Moody's lifts UMass Memorial outlook
Moody’s Investors Service has upgraded its debt outlook for UMass Memorial Health Care from negative to positive, citing an upturn in the Worcester-based organization’s finances.
In a statement Thursday, Moody’s affirmed UMass Memorial’s Ba1 debt rating, which indicates that investing in its debt would pose a low to moderate level of risk for an investor, according to Investopedia.
Moody’s said it upgraded the outlook for UMass Memorial based on recent changes to bank debt agreements that reduce near-term risk to the organization’s capital structure. It also cited operating performance in UMass Memorial’s 2014 fiscal cycle that exceeded expectations, with stronger performance at UMass Memorial Medical Center, and continued positive operations during the first half of its current fiscal year, which ends Sept. 30.
According to data filed with the state, three of the organization’s four hospitals – the medical center, HealthAlliance in Leominster and Marlborough Hospital - returned positive operating margins in the fourth quarter of 2014. The only hospital that finished in the red operationally was Clinton Hospital.
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