Moody's Investors Service has affirmed the "A3" bond rating assigned to $83.7 million of Greensburg, Pa.-based Excela Health's revenue bonds and revised the three-hospital system's outlook to stable from negative.
The rating affirmation was supported by a number of factors, including Excela's improved operating performance over the last 18 months and strong balance sheet ratios for the "A3" rating category.
The system also faces some challenges, which were considered for the rating affirmation, such as having high Medicare volumes.
The revision of the outlook to stable was based on Excela's improved operating performance, low debt load and strong liquidity.