Moody's Investors Service has affirmed the "Baa2" rating assigned to Norman (Okla.) Regional Hospital Authority's series 1996B bonds, affecting $13.1 million of outstanding debt.
The rating affirmation is based on several factors, including NRHA's continued growth in cash, improved operating performance and strong market presence. NRHA also faces numerous challenges, including its debt load and multi-year pressure on patient volumes.
The outlook is stable, reflecting Moody's expectation that NRHA will complete its rebuilding of the Moore (Okla.) Medical Center — which was struck by a tornado in May — on time and within its budget.
More hospital outlook and credit rating actions:
Moody's affirms Wake Forest Baptist's 'A2' rating
Moody's assigns 'A3' rating to Health Quest System's bonds
Moody's affirms Duke Health System's 'Aa2' rating