Moody's Investors Service affirmed its "A2" rating on Beaver, Pa.-based Heritage Valley Health System's outstanding debt, affecting $48.7 million of debt.
The affirmation results from several factors, including the health system's solid market position, light debt burden and strong liquidity metrics. Moody's also acknowledged the health system's highly competitive market, declining inpatient volume and an aging patient population.
The outlook is stable, reflecting HVHS' strong cash position, which Moody's expects will support near term capital plans. Additionally, Moody's expects HVHS' operating performance to improve in fiscal year 2018 as it employs a plan of correction to reign in expenses.