Fitch Ratings has affirmed the "A+" rating on $48.7 million of series D revenue bonds and $116 million of series C revenue bonds issued on behalf of Lahey Hospital and Medical Center in Burlington, Mass., which is part of Lahey Health.
The rating affirmation was based on a number of factors, including Lahey Health's good liquidity. As of June 30, the system had unrestricted cash and investments of $857 million, which translated to 168.9 days cash on hand.
The system's challenges were also considered for the rating affirmation, including its weak operating performance in fiscal year 2015.
The system's rating outlook is stable.
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