Moody's affirms 'A1' on Phoebe Putney Memorial Hospital

Moody's Investors Service affirmed its "A1" rating on Albany, Ga.-based Phoebe Putney Memorial Hospital, affecting $99 million of debt.

The affirmation is a result of the improved financial performance, strong liquidity position and dominant market position of Albany-based Phoebe Putney Health System. PPMH is the flagship facility of PPHS. Moody's also acknowledged the health system's upcoming period of high capital spending and unfavorable payer mix.

The outlook is stable, reflecting Moody's expectation that the health system will maintain favorable cash flow metrics into fiscal year 2018.

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