Moody's Investors Service said it has upgraded Central Washington Health Services Association's (dba Central Washington Hospital (CWH)) revenue bond ratings to Baa2 from Baa3, affecting $112 million of debt issued by the Washington Health Care Facilities Authority.
The outlook remains positive.
The upgrade to Baa2 and the maintenance of the positive outlook reflect a third year of strong operating performance, improved debt measures, and the successful launching of the new agreement with Wenatchee Valley Medical Center to form Confluence Health.
Other strengths include essentiality in the market place, good physician relations, and very high market share. Management here is good, and follows strong oversight and planning practices. Challenges include high leverage, and weak liquidity at the parent level.
