Moody's Investors Service affirmed its "Baa2" rating on Shelbyville, Ind.-based Major Health Partners, affecting $53.5 million of debt.
The affirmation is a result of several factors, including MHP's strong market position, favorable material cash flow and successful completion of a replacement hospital. Moody's also acknowledged MHP's recent financial variability and margin declines.
The outlook is stable, reflecting Moody's expectation that MHP will see improved margins and liquidity metrics after the initial startup costs for the replacement hospital subside.