Moody's affirms 'A3' rating for Excela Health

Moody's Investors Service affirmed Greensburg, Pa.-based Excela Health's "A3" rating, affecting $72 million of outstanding debt.

The rating is supported by an enlarged ambulatory network and growing employed physician group, as well as a comfortable liquidity level and low financial leverage. However, the costs of an expanded physician group will suppress margins.

The rating outlook is revised from stable to negative.

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