Moody's Investors Service has assigned an initial "A3" rating to Nashville, Tenn.-based Vanderbilt University Medical Center's following bonds:
- $530 million of series 2016A tax-exempt fixed rate bonds
- $250 million of series 2016B taxable fixed rate bonds
- $100 million of series 2016 taxable floating rate notes
- $100 million of series 2016 R-FLOAT securities
The initial rating is based on several factors, including VUMC's status as a leading national academic medical center and its strong demand for tertiary and quaternary services.
The outlook is stable, reflecting Moody's Investors Service's expectation that VUMC's strong profile will translate into adequate cash flow that will support operations and debt service.