Moody's Investors Service has assigned an "A2" rating to Reno, Nev.-based Renown Health's proposed $141 million of series 2015A fixed rate revenue refunding bonds, and upgraded the rating on the system's parity debt to "A2" from "A3."
Moody's also revised the system's outlook to stable from positive.
The rating upgrade was based on a number of factors, including Renown's strong performance in fiscal year 2014, and the system's continued improvement of balance sheet measures.
Renown also faces some challenges, such as operating in a highly competitive environment.
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