Moody's Investors Service has affirmed the "A2" rating assigned to Va.-based Centra Health's bonds issued through the Lynchburg Industrial Development Authority, affecting $154.8 million of outstanding debt.
The rating affirmation is based on several factors, including Centra's leading volume in its primary service area and successful management of multiple new projects.
The rating is offset by the system's weak payer mix, risky capital structure and relative uncertainty surrounding the financial outcomes of its new projects.
The outlook is stable, reflecting Centra's consistent operating metrics in fiscal year 2014 and Moody's expectation that margins should be sustained.