Moody's Investors Service said it has upgraded to Baa1 the rating assigned to Northeast Health System, Mass.'s (Northeast) bonds reflecting benefits from the affiliation with Lahey Clinic and stable financial performance.
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The outlook has been revised from positive to stable at the higher rating level.
The upgrade of Northeast's rating to Baa1 reflects ongoing benefits from the system's merger with Lahey Clinic combined with stable operating performance and balance sheet strengthening at Northeast.
Benefits of the Lahey affiliation stem from financial integration and access to capital, and an improved market position from being part of a larger system in a competitive market that is increasingly dominated by large healthcare system.
