Moody's affirms Novant Health's bond ratings

Moody's Investors Service has affirmed the "A1" rating assigned to Winston-Salem, N.C.-based Novant Health's bonds and the "A1/VMIG 1" ratings assigned to its series 2004A and 2004B bonds, affecting approximately $1.1 billion.

The affirmation is based on a number of factors, including Novant's large size, consistent financial performance, growing cash balances and manageable capital spending plans.

High leverage, heavy competition in Novant's markets and a weakened financial performance may pressure the rating.

The outlook remains stable.

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