Moody's Investors Service upgraded Plainsboro, N.J.-based Princeton HealthCare System to "Aa3" from "Baa2," affecting about $188 million of outstanding debt.
Princeton HealthCare System became a subsidiary of Philadelphia-based University of Pennsylvania Health System on Jan. 1. In June, the security of Princeton's outstanding bonds was changed to that of U of Penn Health's obligated group. The upgrade was a result of this security change.
The outlook is stable.
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