MOODY'S PLACES SAINTS MEMORIAL MEDICAL CENTER'S (MA) Caa1 RATING ON REVIEW FOR UPGRADE

Posted on: March 13, 2012, 12:21 pm

NEW YORK, March 13, 2012 --Moody's Investors Service has placed the Caa1 rating assigned to Saints Memorial Medical Center's debt on review for possible upgrade. The action is due to the recent execution of a merger affiliation agreement between Lowell, MA- based Saints and Lowell General Hospital (Baa1/on review for downgrade). If the transaction finalizes, the merger would likely result in Saints' outstanding debt becoming secured by revenues from a merged obligated group that would include both Lowell General Hospital and Saints. The timing of the transaction has not yet been finalized, although we expect it is highly likely that closing will extend beyond our typical 90-day review period. We will extend the review period if necessary. For more information on Lowell General, please see our report dated July 7, 2011...

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