Moody's Investors Service said it has upgraded Bridgeport Hospital's bond rating to Aa3 from A3.
This action affects approximately $34 million of outstanding Series 2012 D fixed rate revenue bonds issued through the Connecticut Health and Educational Facilities Authority.
Bridgeport's rating has been removed from under review. The rating outlook is stable.
The upgrade to Aa3 reflects the recent change in bondholder security in conjunction with Bridgeport joining the newly created Yale New Haven Health (YNHH) obligated group (YNHH is rated Aa3). YNHH's Aa3 rating reflects the system's leading market share over the entire state of Connecticut as a nationally prominent health system anchored by a leading academic medical center, strong affiliation with Aaa rated Yale University, and track record of profitability.
