Moody's Investors Service has upgraded Calif.-based Citrus Valley Health Partners' underlying revenue bond ratings to "Baa3" from "Ba2."
The rating upgrade is based on several factors, including CVHP's significantly improved balance sheet measures and the stabilization of core operating performance measures.
The system also faces difficulties, including a challenging payer mix and a highly unionized workforce.
The outlook is stable, reflecting Moody's assumption that underlying core performance will remain at current levels and the balance sheet will remain strong.