Moody's affirms 'A2' rating on Rex Healthcare

Moody's Investors Service affirmed its "A2" long-term rating on Raleigh, N.C.-based Rex Healthcare, affecting $140 million of debt.

The affirmation is a result of several factors, including Rex Healthcare's solid financial performance, healthy market position, favorable service area and its membership in the Chapel Hill, N.C.-based UNC Health Care System. Moody's unfavorably viewed the health system's very competitive market and regular cash payments to UNC Health Care, which reduces its own financial performance metrics.

The outlook is stable, reflecting the agency's expectation that Rex Healthcare will maintain its favorable financial metrics to continue providing good debt service coverage.

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