Moody's Investors Service affirmed its "Aa3" long-term rating on Chapel Hill-based University of North Carolina Hospitals, affecting $330 million of debt.
The affirmation is a result of several factors, including UNC Hospitals' leading market position, strong patient demand and healthy financial performance. Moody's also acknowledged UNC Hospitals' large annual transfers to University of North Carolina Health Care System, which reduce its own operating cash flow and weaken its leverage position.
The outlook is stable, reflecting Moody's expectation that UNC Hospitals will maintain its strong market position to further improve cash flow.
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