Standard & Poor's Ratings Services has raised its rating on Westchester County Industrial Development Agency's series 1998 bonds issued on behalf of Bronxville, N.Y.-based Lawrence Hospital to "A" from "BBB+."
Lawrence Hospital was acquired by NewYork-Presbyterian in July 2014 and is now doing business as NewYork-Presbyterian/Lawrence Hospital.
Although the debt remains the responsibility of Lawrence Hospital, "we believe NYPL's overall credit profile benefits from NYP's administrative, strategic and clinical support," said S&P.
The hospital's outlook is stable.
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