Moody's Investors Service raised its rating on Saints Memorial Medical Center, Lowell, Mass., to B1 from B, affecting $75.5 million of debt. The New York-based rating agency raised the rating because of "marked improvement" in Saints Memorial's fiscal condition.
Standard & Poor's, meanwhile, increased its rating on Wills Eye Hospital, Philadelphia, to A+ from A, affecting $11.6 million of debt. The move reflects Wills' low leverage, excellent liquidity and implementation of a diversification strategy.
The New York-based agency also increased the rating of Sturdy Memorial Hospital, Attleboro, Mass., to A- from BBB+, affecting $9.4 million of debt. It cited the hospital's strong financial performance.
Also upgraded by Standard & Poor's was Parkview Episcopal Medical Center, Pueblo, Colo., to BBB from BBB-. Market share and utilization gains contributed to the upgrade, affecting $6.9 million of debt.
Cookeville (Tenn.) General Hospital's dominant market position contributed to an upgrade to A from A- by Standard & Poor's. The increase affects $13.8 million of debt.
And the agency boosted the rating on $8.9 million of bonds issued by Hibbing, Minn., for Mesabi Regional Medical Center in Hibbing, to AA from BB+, reflecting an upgrade on the city's bonds and the medical center's merger with University of Minnesota Health System.