Moody's Investors Service has assigned an "Aa3" rating to Los Angeles-based Cedars-Sinai Medical Center's proposed $400 million of series 2015 bonds.
Moody's has also upgraded the rating on Cedars-Sinai's outstanding debt to "Aa3" from "A1" and revising the outlook to stable from positive, affecting approximately $1 million of rated debt.
The rating assignment and upgrade are based on several factors, including Cedars-Sinai's large size, good reputation for clinical services and research, strong financial performance and improving balance sheet metrics.
The outlook on the series 2015 bonds has been revised to stable, reflecting Moody's view that Cedars-Sinai's performance will remain strong.
More hospital outlook and credit rating actions:
Moody's affirms CentraCare Health System's 'A1' rating
Moody's revises Capital Region Medical Center's outlook to negative
Fitch affirms Care New England's 'BBB' rating