Moody's Investors Service upgraded Cullman (Ala.) Regional Medical Center to "Baa3" from "Ba1," affecting $59 million of rated debt.
The upgrade is a result of several factors, including CRMC's consistently strong operating margin, solid market position, and improvements in liquidity and leverage metrics. Moody's also acknowledged the medical center's heavy debt burden, smaller size and limited opportunities for growth.
The outlook is stable, reflecting Moody's expectation that the medical center will improve its debt position by making timely debt service payments and having modest capital spending plans.