Moody's assigns 'A2' rating to Southern Ohio Medical Center's bonds

Moody's Investors Service has assigned an "A2" rating to Portsmouth-based Southern Ohio Medical Center's proposed series 2016 fixed rate bonds, affecting $124 million.

The rating assignment is based on a number of factors, including SOMC's leading market position, strong investment balance and conservative debt structure.

Offsetting these strengths are SOMC's modest revenue base and dependence on a small number of admitting physicians for a large share of inpatient admissions.

The outlook is stable, reflecting SOMC's strong balance sheet metrics and Moody's Investors Service's expectation that SOMC will maintain improved leverage metrics.

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