New York City’s NYU Langone Hospitals had its outlook revised to positive from stable amid a “very good operating performance” that has helped lead to improved days of cash on hand, Moody’s said.
The system had its “A2” bond rating affirmed.
The upgrade on its outlook comes even as the system takes on significant capital spending in the coming years. Days of cash on hand will remain weaker than many peers as a result even as the metric improves, Moody’s said.
“The positive outlook reflects the expectation that NYULH will continue to generate robust margins to offset high capital spend and allow for continued balance sheet strengthening,” Moody’s said in the note.
NYU Langone consists of five inpatient locations in New York City and on Long Island as well as numerous ambulatory facilities in the five boroughs, Long Island, New Jersey and Florida.
Total debt outstanding is $3.1 billion.
