The "A3" rating assigned to Conway (S.C.) Medical Center's bonds has been affirmed by Moody's Investors Service.
Factors leading to Moody's affirmation include Conway's stable market position, location in a service area that isn't overly competitive, impressive balance sheet metrics and financial performance that is both strong and consistent.
Additionally, Conway is showing exceptionally strong operating performance
in the 2014 fiscal year, with an operating cash flow margin of 17.8 percent through 11
months, a multi-year high for the organization.
However, Conway also faces some challenges, such as its small size, which makes it more reliant on its few physicians and more vulnerable to facing operating difficulties. Conway also has a challenging payer mix with 17 percent Medicaid patients and 14 percent self-pay.
Moody's also affirmed Conway's outlook at stable.