Concurrently, Moody’s affirmed its “A2” rating on Concord Hospital’s outstanding revenue bonds, affecting $83 million of debt.
The assignment and affirmation are a result of several factors, including the hospital’s strong market position, healthy operating performance, light debt burden and solid balance sheet metrics. Moody’s also acknowledge the hospital’s upcoming IT installation, which will result in a more modest financial performance in fiscal year 2018.
The outlook is stable, reflecting Moody’s expectation that the hospital will still meet its budget in 2018, despite the heavy spending on new IT infrastructure.
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