S&P has upgraded Hackensack (N.J.) University Medical Center's outlook to positive from stable and affirmed the hospital's "A-" long-term rating and "A-" underlying rating.
"We revised the outlook to positive based on HackensackUMC's material improvement in cash flow," said Cynthia Keller, an S&P analyst. The credit rating agency also considered the hospital's definitive agreement to merge with Neptune, N.J.-based Meridian Health System. "We assessed HackensackUMC's enterprise profile as very strong," said Ms. Keller.
The rating affirmation was based on several factors, including the hospital's leading market share and active participation in a number of joint ventures and affiliations.
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