Concurrently, Moody’s assigned its “Baa1” rating to the hospital’s existing series 2008A revenue refunding bonds.
The affirmation and assignment are based on several factors, including the hospital’s robust liquidity position, favorable cash flow margins, stable volume trends and leading market position. Moody’s unfavorably viewed the hospital’s very high debt load.
The outlook was revised to positive from stable, reflecting Moody’s view that the hospital’s cash flow and operating performance will remain strong to improve debt measures.
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