Moody's Investors Service assigned its "A2" rating to Marietta, Ga.-based WellStar Health System's four upcoming series 2017 revenue anticipation certificates and hospital revenue bonds totaling $546.7 million. The certificates and bonds will be at a fixed rate and mature in 2047.
Additionally, Moody's affirmed the "A2" rating on WellStar's $350 million of outstanding debt.
The assignment and affirmation are a result of several factors, including WellStar's strong financial performance, sufficient debt service coverage and efficient management team that integrated numerous hospitals into a unified health system.
The outlook is stable, reflecting Moody's expectation that the health system will continue producing large financial margins to support capital spending and improve balance sheet metrics.