Moody's assigns 'A1' rating to Vidant Health's bonds

Moody's Investors Service has assigned an "A1" rating on Greenville, N.C.-based Vidant Health's $278 million series 2015 revenue bonds to be issued by the North Carolina Medical Care Commission.

The rating assignment was supported by a number of factors, including Vidant's strong market share.

The system faces some challenges, which were considered for the rating assignment, such as having high balance sheet leverage due to the large increase in outstanding debt.

Moody's also revised Vidant's outlook to negative. That action reflects Moody's expectation "that balance sheet leverage will remain high for several years, and that operating cash flow growth will be minimal, resulting in a slow deleveraging of the balance sheet."

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