Moody's Investors Service affirmed its "Baa1" issuer rating on St. Augustine, Fla.-based Flagler Healthcare System. Concurrently, Moody's affirmed its "Baa1" rating on $32.6 million of the health system's bonds.
The affirmations are a result of the health system's leading market position and improving operating margin. Moody's negatively viewed the health system's high leverage, unfavorable payer mix and small size.
The outlook was revised to stable from negative, reflecting the health system's improving operating performance.