Moody's Investors Service has assigned an "Aa3" rating to Renton, Wash.-based Providence St. Joseph Health's proposed series 2016A, series 2016B and series 2016J bonds.
Providence St. Joseph Health is the organization created by the merger between Renton, Wash.-based Providence Health & Services and Irvine, Calif.-based St. Joseph Health.
The rating assignment is based on a number of factors, including PSJH's large service area, leading market share and large consolidated pro forma revenue base of more than $20 billion.
The outlook is stable under the assumption that the integration of the organizations will proceed without significant difficulties.