Moody's Investors Service has assigned "Aa2" and "Aa2/VMIG 1" ratings to St. Louis-based Ascension Health's proposed series 2016 bonds.
The rating assignment is based on several factors, including Ascension's status as the largest nonprofit healthcare system in the U.S. with $21 billion in total operating revenues.
Ascension's challenges include moderate operating margins and competition in most of its markets.
The outlook is stable, reflecting Moody's Investors Service's expectations that Ascension's improved margins will be sustained.
Moody's also affirmed ratings on approximately $5 billion of Ascension's outstanding debt.
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