Moody’s assigns ‘Aa3’ rating for RIHEBC Pawtucket bonds

PROVIDENCE – Moody’s Investors Service recently assigned strong ratings to $34 million in revenue bonds issued by the Rhode Island Health and Educational Building Corp.

The “Aa3” rating means the ratings agency has determined high credit quality and low risk for the series 2022a bonds secured based on loan payments from the city of Pawtucket. The rating reflects the state’s stable credit outlook, as well as the city’s ability to meet the debt service on the bonds, according to the report.

The proceeds of the bond will be used to retire 2020 bond anticipation notes, the report stated.

The Rhode Island Health and Educational Building Corp. is a quasi-public agency that helps health care and educational institutions secure low-cost financing for building construction and renovation projects.

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Nancy Lavin is a PBN staff writer. You may reach her at