Moody's Investors Service assigned its "Baa1" rating to Cabell Huntington (W. Va.) Hospital's series 2018A and 2018B revenue refunding and improvement revenue bonds. In total, the bonds are $260 million.
Concurrently, Moody's affirmed its "Baa1" rating on $79 million of the hospital's outstanding debt.
The affirmation and assignment are based on several factors, including the hospital's dominant market share, recent acquisition of Huntington-based St. Mary's Medical Center, as well as its long-standing relationship as a primary teaching affiliate of Marshall University School of Medicine.
The outlook is stable, reflecting Moody's expectation that Cabell Huntington will see improved operations after a period of suppressed margins due to the acquisition.