Moody's assigns 'A3' rating to Health Quest's bonds

Moody's Investors Service has assigned an "A3" rating to LaGrangeville, N.Y.-based Health Quest's proposed series 2016A and series 2016B fixed rate bonds, affecting $381.4 million.

Moody's also affirmed the "A3" rating on Health Quest's outstanding debt.

The rating assignment and affirmation reflect Health Quest's strengthened margins and improved balance sheet through the first quarter of fiscal year 2016. Offsetting these strengths is continued competition in Health Quest's service area.

The outlook is negative, reflecting Health Quest's risk of departure from current levels of operating performance.

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