Moody's assigns 'Baa3' rating to Orange Regional Medical Center's bonds

Moody's Investors Service affirmed the "Baa3" rating on Middletown, N.Y.-based Orange Regional Medical Center's proposed $249 million of series 2017 fixed rate bonds.

The rating affirmation is based on a number of factors, including ORMC's sustained improvement in operating performance and meaningful increases in liquidity.

The credit rating agency also revised the rating to "Baa3" from "Ba1" on ORMC's $300 million of debt.

The outlook is stable, reflecting Moody's Investors Service's expectation that ORMC's market position will continue to support a favorable operating performance.

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