Moody’s Investors Service upgraded Harrisburg, Pa.-based PinnacleHealth System’s debt rating to “A1” from “A3,” affecting $287 million of debt.
The upgrade is a result of Pittsburgh-based UPMC acquiring PinnacleHealth System and becoming its debt owner.
The outlook was revised to negative from developing, which Moody’s said was due to UPMC’s rapid expansion project and high execution risk following the acquisition of PinnacleHealth.
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