Fitch Ratings has affirmed the "BBB" rating assigned to $64.5 million of series 2013G revenue bonds issued on behalf of Lowell (Mass.) General Hospital by The Massachusetts Development Finance Agency.
The rating affirmation was supported by a number of factors, including the 434-bed hospital's growth in liquidity and improved financial results in fiscal year 2014.
Fitch expects the hospital's modest liquidity growth and recent performance levels to continue. However, "A failure to consistently meet its budget or a drop in liquidity could result in negative rating pressure," according to Fitch.
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