Moody's revises Halifax Regional Medical Center's outlook to stable from negative

Moody's Investors Service has affirmed the "Ba3" rating assigned to Roanoke Rapids, N.C.-based Halifax Regional Medical Center's series 1998 bonds issued by the North Carolina Medical Care Commission and revised the hospital's outlook to stable from negative.

The rating affirmation was based on Halifax's below average financial performance and location in a challenging market with a weak payer mix. Medicare and Medicaid made up a combined 73 percent of the hospital's patient volume in fiscal year 2013.

The outlook revision was based on the hospital's recent improvement in financial performance and maintenance of stable balance sheet metrics. Halifax's operating performance improved significantly in FY 2014 as a result of many initiatives aimed at cutting expenses and improving productivity.