Moody's Investors Service has affirmed the "Baa2" rating assigned to approximately $53.8 million of Ohio-based Wood County Hospital Association's series 2012 fixed rate revenue bonds issued by the County of Wood, Ohio.
The rating affirmation was supported by a number of factors, including WCHA's location and leading market share of a good service area, maintenance of good balance sheet ratios and historical track record of double digit operating cash flow margins.
Continued pressure on physician retention and recruitment, WCHA's high debt load relative to its scope of operations and WCHA's small revenue base could threaten the rating.
The outlook remains negative.