LOS ANGELES - Moody's Investors Service on Monday affirmed the Baa3 credit rating of a Lancaster, Calif.-based hospital district that had been placed on review for downgrade in June following the unexpected resignations of the chief executive officer and the chief financial officer.

A one-notch downgrade would have bumped the $134 million in outstanding debt held by the Antelope Valley Healthcare District to speculative grade. The debt is fixed-rate, although there is a $55 million bullet in 2017, according to the ratings report.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.