Moody’s Investors Service affirmed its A2 rating on Southwest General Health Center, located in the Cleveland suburb of Middleburg Heights, and revised its outlook to stable from negative after the center reported three years of improved operating results.
The center has just under $70 million of outstanding debt.
Located in the competitive suburban Cleveland region, the health center enjoys a leading 44% market share. It has improved its operating results and cash-flow generation for three straight years and reported growth in unrestricted liquidity totaling 181 days-cash-on-hand as of the end of August, 2009, Moody’s said.
The center continues to benefit from its affiliation with University Hospitals Health System, one of the largest systems in the state.
The center has a few capital projects planned for this year and next, which will largely be financed with operating cash.
