Moody's Investors Service has upgraded the long-term and underlying ratings on San Diego-based Rady Children's Hospital's parity debt to "Aa3" from "A1."
The rating upgrade is based on several factors, including Rady Children's Hospital's strong balance sheet, overall stable operating performance, clinical excellence and position as the dominant provider of tertiary and quaternary pediatric services in the greater San Diego region.
The outlook is stable, reflecting Moody's Investors Service's expectation that Rady Children's will continue to produce stable operating performance measures over the next several years.
Moody's has also assigned an "Aa3" rating to Rady Children's Hospital's proposed series 2016A and 2016B refunding revenue bonds, affecting $56 million.