Moody's Investors Service affirmed its "A3" rating on Cincinnati-based The Christ Hospital's outstanding bonds, affecting $318 million of debt.
The affirmation is a result of several factors, including the hospital's growing market share, improving liquidity metrics and substantial grants from its owner, Cincinnati-based Elizabeth Gamble Deaconess Home Association. Moody's also acknowledged the hospital's modest operating performance in fiscal year, weakened balance sheet and highly competitive market.
The outlook is stable, reflecting Moody's expectation that TCH will improve operating margins and liquidity metrics as it gains traction in the Cincinnati market.