Moody’s Investors Service has assigned A1 ratings to Hawaii Pacific Health’s proposed $154.5 million Series 2018 A&B Taxable Refunding Revenue Bonds.

The ratings agency, which released its report Monday, also affirmed the A1 ratings on Hawaii Pacific Health’s $347 million of outstanding revenue bonds that were issued by the state Department of Budget and Finance. Fitch said the outlook is stable.

“The A1 reflects certain fundamental credit strengths, including a leading market position in the state, very strong clinical offerings, a dynamic and flexible management style, and ongoing strong operating and balance sheet measures,” Fitch said.

Proceeds from the Series 1018 A&B bonds — $96.9 million for series 2018A and $57.6 million for series 2018B — will be used to refund the Series 2010 A&B bonds and to pay the bonds’ issuing costs.

Moody’s rating follows on the heels of Fitch Ratings, which on Friday assigned a AA- Issuer Default Rating and AA- revenue bond rating on the upcoming bonds. In addition, Fitch also assigned an AA- Issuer Default Rating and upgraded Hawaii Pacific Health’s revenue bond ratings to AA- from A+ on about $305 million of outstanding bonds issued by or on behalf of Hawaii Pacific Health.

Moody’s said that following the completion of a new patient tower at Kapiolani Medical Center for Women & Children in July 2016, capital spending has decreased to more routine levels and is projected to remain stable.

Hawaii Pacific Health is the parent of Kapiolani Medical Center, Pali Momi Medical Center, Straub Clinic & Hospital and Wilcox Medical Center on Kauai.