Moody's affirms Davis Health's 'Caa3' rating

Moody's Investors Service has affirmed the "Caa3" rating on approximately $11 million of Elkins, W.V.-based Davis Health System's rated debt.

The rating affirmation is based on several factors, including recent operation traction resulting in healthier margins.

Offsetting these strengths are DHS' weak liquidity position, small size and lack of financial flexibility.

The outlook is negative, reflecting Moody's expectation that potential for violation of strict cash covenant poses risk of acceleration.

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