Standard & Poor's has revised the outlook to stable from negative and affirmed its "BBB+" underlying rating on series 1998A and 1998B bonds issued for Worcester-based UMass Memorial Medical Center, a subsidiary of UMass Memorial Health Care.
"The outlook revision to stable reflects material improvement in financial performance with profitable audited 2014 results and continued positive, although thin, earnings in fiscal 2015 to date," said S&P credit analyst Cynthia Keller.
The rating is also supported by UMass Memorial's strong market position as the major teaching hospital of the area's only public medical school and as the sole provider of tertiary care in Massachusetts.