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Post Bulletin
     September 27, 2018      #42-270 PB1 1
 
Moody's gives Mayo's $200 million in bonds a good rating

Jeff Kiger
jkiger@postbulletin.com


Another prominent financial rating service is giving top marks to the sale of $200 million in bonds to support Mayo Clinic.

Moody’s Investor Service recently gave an Aa2 rating to the $200 million series of tax-free bonds being issued by the City of Rochester in October to fund Mayo Clinic’s expansion and upgrade of Mayo Clinic Hospital — Saint Marys.

It also reaffirmed Aa2 and Aa2/VMIG 1 ratings on approximately $3 billion of outstanding Mayo Clinic debt.

The rating “reflects several ...

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Moody’s Investor Service says Mayo Clinic’s strengths are “balanced against modest operating performance relative to similarly rated peer organizations and plans for higher capital spending over the next several years.”

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