New Hampshire Health & Educ. Fac. Auth. — Moody’s affirms Mass General Brigham Inc.’s (MA) Aa3; outlook stable

Rating Action: Moody’s affirms Mass General Brigham Inc.’s (MA) Aa3; outlook stableGlobal Credit Research – 12 Mar 2021New York, March 12, 2021 — Moody’s Investors Service has affirmed the Aa3, Aa3/VMIG 1 and P-1 ratings assigned to Mass General Brigham Incorporated’s (MA) debt on bonds issued through the Massachusetts Development Finance Agency and by Mass General Brigham. The outlook is stable.RATINGS RATIONALEMass General Brigham will maintain a strong market position in its core market in eastern Massachusetts across a broad range of services and throughout New England for more complex care owing to its excellent clinical reputation, large network of physician practices, hospitals and ambulatory locations and network of clinical affiliations with regional hospitals. Excellent patient demand, particularly amongst the highest acuity and highest reimbursing services will support operating performance over the coming years and near term as the organization continues to rebuild volume as it emerges from the pandemic. A return to stable performance will be important as the organization undertakes several organic growth strategies in light of a challenging regulatory environment that has made acquisitive growth difficult, and a changing market landscape with mergers among two major insurers, acquisition of a major physician group by Optum, and a large and a competing hospital system with a strong clinical reputation. Operating losses at its health insurance division, which…