Moody's Investors Service affirmed its "A1" rating on the Roanoke, Va.-based Carilion Clinic Obligated Group, affecting $398 million of debt.
The affirmation is a result of several factors, including Carilion Clinic's dominant market position, strong balance sheet metrics and wide array of tertiary and quaternary service offerings. Moody's also acknowledged the clinic's sizable pension obligation and upcoming period of elevated capital spending.
The outlook was revised to positive from stable, reflecting Carilion's strong operating margins that will support its elevated capital spending.