Moody's Investors Service has affirmed the "Aa3" rating assigned to approximately $206 million of Fremont, Calif.-based Washington Township Health Care District's general obligation bonds and revised the hospital district's outlook to stable from negative.
The rating affirmation and outlook upgrade were based on a number of factors, including the hospital's improved financial operations, which are expected to remain stable in the near term.
The rating affirmation is also supported by the hospital district's large and diverse tax base, strong local economy, above average wealth levels and moderate debt burden with significant near-term capital needs, according to Moody's.
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