Moody's Investors Service affirmed its "A2" rating on Rochester, N.Y.-based Highland Hospital, affecting approximately $45.6 million of debt.
The affirmation is a result of several factors, including the hospital's stable operating performance, increasing patient volume, low leverage position, unrestricted cash growth, and its affiliation with the University of Rochester, which has a strong reputation. Moody's also acknowledged the hospital's upcoming period of high capital spending and its competitive service area with limited population growth.
The outlook is stable, reflecting Moody's expectation that Highland will maintain its favorable operating performance to offset its planned, upcoming expenses.