Moody's Investors Service assigned an "A1" long-term rating to the proposed revenue refunding bonds for Traverse City, Mich.-based Munson Healthcare while also maintaining an "A1" rating on the system's existing debt.
The rating reflects the expectation that Munson will continue to generate strong operating cash flow margins and maintain its healthy liquidity position. The system's stable operating position is balanced by challenges related to its aging population.
The rating outlook is stable.