Moody's Investors Service affirmed its "Aa3" rating on Grand Prairie, Texas-based Tarrant County Hospital District, affecting $18 million of debt. The district does business as JPS Health Network.
The affirmation is a result of JPS Health Network's important role as a safety-net provider, very low debt burden and solid balance sheet reserves. Offsetting these credit strengths are the provider's unfavorable payer mix and heavy reliance on property taxes.
The outlook was revised to negative from stable, reflecting the district's reliance on external, supplemental funded sources that are projected to decline soon.