AdventHealth plans $478 million bond offering
July 16, 2019 - Adventist Health System/Sunbelt Obligated Group plans to issue two series of hospital revenue bonds, totaling $478 million. Proceeds will be used to refund prior bonds and reimburse AdventHealth for prior capital projects, a report from Moody's Investors Service said. Moody's assigned an Aa2 investment grade rating to both series of bond issues, saying AdventHealth will benefit from strong margins resulting in low operating leverage, solid cash levels and relatively large scale. AdventHealth is one of the larger healthcare systems in the Tampa Bay area, with hospitals in north Pinellas, Tampa, Carrollwood, Wesley Chapel and Zephyrhills.