Moody's Investors Service has assigned "A2" ratings to Bloomington, Minn.-based HealthPartners' proposed $290 million of series 2015A tax-exempt fixed rate revenue refunding bonds and $195 million of series 2015B taxable fixed rate revenue refunding bonds.
The rating assignment is based on a number of factors, including HealthPartners' status as a fully integrated health system with diversified revenue streams, broad market reach throughout the Minneapolis-Saint Paul metropolitan area, continued adequate operating performance in fiscal year 2014 and maintenance of adequate liquidity ratios and strong debt coverage, according to Moody's.
Those attributes are offset by the fact that HealthPartners' hospital and health plan operations face noteworthy competition.
HealthPartners' outlook is stable, which reflects Moody's expectation "that HealthPartners will maintain adequate operating margins and liquidity ratios, and debt coverage will remain strong."
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