Moody's Investors Service has assigned a "Baa2" rating to Elizabeth, N.J.-based Trinitas Regional Medical Center's proposed $13 million of series 2016A bonds and proposed $90 million of series 2017A bonds.
The "Baa2" rating is based on a number of factors, including TRMC's excellent unrestricted liquidity, low leverage and consistently surplus operations. TRMC also faces several challenges, including its reliance on governmental payers and location in a competitive service area.
The outlook is stable, reflecting Moody's Investors Service's expectation that TRMC will produce operating cash flow margins around 8 percent.