Moody's Investors Service has affirmed its "Baa1" revenue bond ratings for Johnson City, Tenn.-based Ballad Health and Mountain States Health Alliance, affecting $535 million and $184 million of rated debt, respectively.
MSHA and Wellmont Health System merged to form Ballad Health in 2018. The affirmation reflects Moody's expectation that Ballad will continue to gain meaningful synergies within the regulatory frameworks of Tennessee and Virginia while preparing for a large IT installation at former MSHA facilities.
The rating outlook has been revised from stable to positive.