Moody's Investors Service has assigned an "Aa3" long-term rating to Asheville, N.C.-based Mission Health System's proposed series 2015 tax exempt bonds and series 2015 taxable bonds.
The rating assignment was supported by a number of factors, including the system's dominant market share in western North Carolina and steady operating performance.
The system does face some challenges, which were considered for the rating assignment, such as having below average debt service coverage and leverage metrics relative to like-rated systems.
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