Moody's affirms Memorial Hospital at North Conway's 'Baa3' bond rating

Moody's Investors Service has affirmed the "Baa3" bond rating assigned to Memorial Hospital at North Conway (N.H.), which affects $18.2 million of outstanding debt issued by New Hampshire Health & Education Facilities Authority.

The rating affirmation was based on a variety of factors, including Memorial's designation as a critical access hospital, leading market share and strong balance sheet position, according to Moody's.

Memorial also faces some challenges, which were considered for the rating affirmation, such as its vulnerability to physician departures and financial variability. In fiscal year 2014, Memorial saw an operating loss and a low operating cash flow margin of 6.5 percent.

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