Moody’s Ratings on Thursday raised Northern Light Health’s outlook from negative to stable, according to the Brewer-based health system.

The upgrade comes less than a month after Standard & Poor’s Global Rating similarly revised its outlook for Northern Light to stable.

“We are encouraged by this news from Moody’s and appreciate that they are recognizing the positive steps we are taking,” says James Rohrbaugh, CPA, Northern Light’s executive vice president and chief financial officer. “This re-affirms that we are heading in the right direction.”

Northern Light has endured major financial trouble in recent years, a period that has seen it shed services, announce the closure of its Waterville hospital and its Bangor walk-in clinic, and the departure of several high-level leaders.

The health system had a $156 million operating loss in fiscal year 2024, but reduced the shortfall to just $15 million during the 2025 fiscal year.