S&P has raised its rating on $70.7 million of series 2010H bonds issued on behalf of Winchester (Mass.) Hospital, a subsidiary of Lahey Health System, to "A" from "A-."
"The upgrade of Winchester reflects its position as a highly strategic subsidiary of LHS given its importance to LHS' strategy to shift patients to the lowest cost setting, its geographic significance to LHS' market, its solid profitability, equal board representation, and management's stated desire to move Winchester's debt into the LHS obligated group," said S&P analyst Cynthia Keller.
The hospital's rating outlook is stable.
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