Here are 18 health systems that have had their credit ratings upgraded by Fitch Ratings or Moody’s Investors Service in 2025:

Baptist Health South Florida’s rating was upgraded to “Aa3” from “A1” by Moody’s. The upgrade highlights the Coral Gables-based system’s measurable operational strengthening and rising cash reserves, Moody’s said.

Baylor Scott & White Health’s rating was upgraded to “Aa2” from “Aa3” by Moody’s. The upgrade reflects the Dallas-based system’s consistently strong financial performance, driven by “deep and disciplined leadership” and favorable demographic characteristics, Moody’s said.

Bon Secours Mercy Health’s rating was upgraded to “A1” from “A2” by Moody’s. The upgrade reflects the Cincinnati-based system’s durable improvement in operations and liquidity, and further growth opportunities in both core and non-acute care business lines, Moody’s said.

Care New England’s rating was upgraded to “BB” from “BB-” by Fitch. The upgrade reflects the Providence, R.I.-based health system’s operational and cash flow improvements, which Fitch said are primarily driven by a set of turnaround initiatives implemented in fiscal 2023.

Doylestown (Pa.) Health’s rating was upgraded to “Aa3” from “A3” by Moody’s. The upgrade reflects the fact that all of Doylestown’s obligations are now on par with Philadelphia, Pa.-based Penn Medicine’s other debt. Penn Medicine acquired Doylestown on April 1.

Eisenhower Medical Center’s rating was upgraded to “BBB” from “BBB-” by Fitch. The upgrade reflects the Rancho Mirage, Calif.-based system’s positive financial performance in fiscal 2024, leading to an improved EBITDA operating margin and further strengthening its liquidity position.

Genesis Healthcare System’s rating was upgraded to “Baa1” from “Baa2” by Moody’s. The Zanesville, Ohio-based system’s broad footprint has benefited from its retail pharmacy strategy and an outpatient medical center opened in 2023, Moody’s said.

Marshfield (Wis.) Clinic Health System’s rating was upgraded to “A-” from “BBB” by Fitch. The upgrade reflects the system’s Jan. 1 merger with Sioux Falls, S.D.-based Sanford Health and Fitch’s expectation that the systems’ obligated groups will combine within a reasonable time frame.

Mount Sinai Medical Center’s rating was upgraded to “A2” from “A3” by Moody’s. The upgrade is driven by the Miami Beach, Fla.-based system’s continued strong financial performance, bolstered by increasing patient demand and market capture, Moody’s said.

Northeast Georgia Health System’s rating was upgraded to “A+” from “A” by Fitch. The upgrade reflects the Gainesville, Ga.-based system’s very strong and consistent operating profitability over the past several years as it managed the completion of a new tower expansion project.

Piedmont Healthcare’s rating was upgraded to “Aa3” from “A1” by Moody’s. The upgrade reflects the Atlanta-based system’s successful execution of strategic and operational initiatives, Moody’s said.

Prime Healthcare’s rating was upgraded to “A-” from “BBB+” by Fitch. The upgrade is based on the Ontario, Calif.-based system’s continued improvement in operating results in 2024 and “very strong unrestricted balance sheet resources compared to its debt position,” Fitch said.

Prisma Health’s rating was upgraded to “A” from “A-” by Fitch. The upgrade reflects the Greenville, S.C.-based system’s two-year operating performance improvement and its sound balance sheet. Prisma’s rating was also upgraded to “A2” from “A3” by Moody’s.

ProMedica Health System’s rating was upgraded to “Ba1” from “Baa2” by Moody’s. The upgrade reflects the Toledo, Ohio-based system’s successful completion of corporate restructuring initiatives and “greater discipline managing core operations, which will help sustain material improvement in financial performance and liquidity,” Moody’s said.

Stanford Health Care’s rating was upgraded to “Aa2” from “Aa3” by Moody’s. The upgrade reflects the Palo Alto, Calif.-based system’s consistently strong financial performance, which will allow it to finance growth strategies while maintaining good liquidity and manageable leverage, Moody’s said.

Sutter Health’s rating was upgraded to “AA-” from “A+” by Fitch. The upgrade is supported by the Sacramento, Calif.-based system’s consistently strong growth, which has resulted in an expanded and strengthened care delivery network with solid market positions across all markets, Fitch said.

Tenet Healthcare’s rating was upgraded to “BB-” from “B+” by Fitch. The upgrade reflects the Dallas-based for-profit system’s improving competitive position, with its ambulatory care segment “durably delivering robust EBITDA growth” and recent divestitures funding significant debt reduction and enhancing liquidity, Fitch said.

University Hospital’s rating was upgraded to “BBB+” from “BB-” by Fitch. The Newark, N.J.-based system’s multi-notch upgrade is based on Fitch’s revised “Government-Related Entities” criteria. Fitch said it believes that, if needed, New Jersey would be “very likely” to provide extraordinary support to the University Hospital given its status as the only public academic medical center and teaching hospital in the state.

The post 18 health systems with credit rating upgrades appeared first on Becker’s Hospital Review | Healthcare News & Analysis.