Moody's Investors Service affirmed its "Baa1" rating on Beverly, Mass.-based Northeast Health System's series G bonds, affecting $43 million of debt.
The affirmation is a result of several factors, including Northeast Health's solid market position and adequate balance sheet metrics as well as its affiliation with Burlington, Mass.-based Lahey Health, which has a solid brand reputation. Moody's also acknowledged Northeast Health has a weaker operating performance than its similarly rated peers.
The outlook is stable, reflecting Moody's expectation that the health system will improve its financial performance in fiscal year 2018.