Moody's Investors Service affirmed its "A2" rating on Dayton, Ohio-based Kettering Health Network's revenue bond rating, affecting $644 million of debt.
The affirmation is a result of several factors, including KHN's strong market position, healthy operating performance, liquidity growth and manageable indirect debt. Moody's unfavorably viewed the health network's elevated capital spending and high reliance on governmental payers.
The outlook is stable, reflecting Moody's expectation the health network will maintain its market position and generate stable operating margins.