Moody’s assigns ‘A3’ rating to Tower Health’s bonds


https://www.beckershospitalreview.com/finance/moody-s-assigns-a3-rating-to-tower-health-s-bonds.html

Image result for tower health system

 

Moody’s Investors Service assigned its “A3” rating to West Reading, Pa.-based Tower Health’s proposed $584 million series 2017 bonds.

Additionally, Moody’s downgraded Tower Health’s outstanding ratings to “A3” from “A2.”

The assignment is a result of several factors, including Tower Health’s solid market position, historically healthy operating performance and favorable absolute liquidity metrics. Moody’s also acknowledged the increased risk associated with the health system’s recent purchase of five hospitals, which resulted in the downgrade of Tower Health’s outstanding ratings.

The outlook is revised to negative from stable, reflecting the increased risk of integrating five formerly for-profit hospitals into the nonprofit health network.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s