Factors that led to Moody’s rating upgrade include NRHA’s positive operating performance and revenue growth, dominant market share and growth of unrestricted cash and investments. In addition, despite one of its three hospitals being destroyed last year by a tornado in Moore, Okla., the NRHA has maintained positive margins.
However, NRHA also faces some challenges, such as its relatively high remaining debt burden, multi-year decline of inpatient admissions, and a costly upcoming capital project which takes the form of a $28 million outpatient facility in Moore, Okla.
Based on NRHA’s successes and potential challenges, Moody’s revised its outlook from positive to stable.
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