Moody's Investors Service assigned an "A1" rating to Allentown, Pa.-based Lehigh Valley Health Network's proposed $48.6 million of series 2016B bonds.
The rating assignment is based on a number of factors, including LVHN's leading market position and history of strong financial performance.
LVHN also faces numerous challenges, including a number of unrestricted investments following its planned capital investment and rapid growth.
The outlook is negative, reflecting Moody's Investors Service's expectation that LVHN's liquidity will remain below expectations.