Moody's Investors Service has affirmed the "A3" assigned to Georgetown (S.C.) Hospital System (GHS) bonds issued through the South Carolina Jobs and Economic Development Authority.
Here are four things to know about the rating action and the system's outlook.
1. The rating action applies to approximately $35 million of rated debt.
2. The rating affirmation is attributed to a number of factors, including GHS' stable financial performance, strong market share in the primary service area and good patient volume growth in certain service lines, according to Moody's. The rating affirmation is also supported by good balance sheet measures.
3. The rating is constrained by the modest size of the system, competition in the broader service area and plans for additional debt in coming years.
4. The system's outlook is stable, which reflects Moody's expectation "that GHS will continue to generate financial performance at current levels."