Moody's Investors Service has affirmed St. Augustine, Fla.-based Flagler Health Care System's "A3" rating, and the health system's outlook is stable.
The affirmation of Flagler's rating was based on a number of factors. Flagler has a leading market share of 82 percent in its primary service area. The health system is also a community provider with enhanced Medicaid and Medicare reimbursement, which should allow the system to maintain consistent long-term operating performance.
One of the challenges Flagler faces is a relatively high debt load. The health system had debt-to-operating revenues of 47 percent in 2013.
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