Moody's assigns 'Aa3' to Mercy Health

Moody's Investors Service assigned its its "Aa3" rating to St. Louis-based Mercy Health's proposed $230 million series 2018A-B. Concurrently, Moody's affirmed its "Aa3" rating on the health system.

The assignment and affirmation are based on several factors, including Mercy Health's broad service area, favorable cash flow metrics, improving operating margins and solid strategic growth plan.

The outlook is stable, reflecting Moody's expectation that Mercy Health will see further growth in its cash flow as well as improved liquidity through affordable capital spending and divestitures.

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