The downgrade is a result of FirstHealth’s inability to return cash flow margins to a historical level. Moody’s also acknowledged the health network’s strong market position, strong liquidity metrics and profitable operating margin.
The outlook is stable at the lower rating, reflecting Moody’s expectation that the health network will maintain its market position to drive profits and strong liquidity ratios as it executes a growth strategy.
FirstHealth of the Carolinas is a nonprofit healthcare provider network with four hospitals across North Carolina.
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