Moody's Investors Service assigned its "A3" rating to Nashville, Tenn.-based Vanderbilt University Medical Center's upcoming series 2017A tax-exempt and taxable revenue bonds totaling $117.5 million, which will be fixed rate and mature in 2048 and 2037, respectively.
The rating assignment is based on a number of factors, including the medical center's favorable operating performance, cash flow exceeding expectations and rising acuity due to its strong reputation.
The outlook is stable reflecting Moody's expectation that the medical center's financial performance and liquidity measures will improve.