Here are 15 health systems that have had their credit ratings upgraded by Fitch Ratings or Moody’s Investors Service in 2026:
Broward Health’s credit rating was upgraded to “A2” from “A3” by Moody’s. The upgrade reflects the Fort Lauderdale, Fla.-based system’s strong financial performance and sustained improvement in its credit metrics, Moody’s said. The system retains a positive outlook at its new rating.
Christ Hospital Health Network’s credit rating was upgraded to “A2” from “A3” by Moody’s. The Cincinnati-based system’s upgrade is driven by its expanding network and market presence in key service lines, Moody’s said.
Erlanger Health System’s credit rating was upgraded to “A” from “A-” by Fitch. The upgrade reflects the Chattanooga, Tenn.-based system’s sustained operating improvement, strong liquidity and a market share nearly twice that of its closest competitor, Fitch said.
Kettering (Ohio) Health’s credit rating was upgraded to “A1” from “A2” by Moody’s. The upgrade reflects the system’s continued strong liquidity and financial performance, which Moody’s said will support an expected increase in capital spending as well as upcoming federal Medicaid cuts.
Lee Health’s credit rating was upgraded to “A1” from “A2” by Moody’s. The upgrade reflects the Fort Myers, Fla.-based system’s successful conversion from a public entity to a private, nonprofit health system.
North Oaks Health’s rating was upgraded to “A+” from “A” by Fitch. The Hammond, La.-based system has strong operating and financial risk profiles, as well as a leading market position in a service area with good population growth, Fitch said.
Peterson Health’s credit rating was upgraded to “A+” from “A” by Fitch. The upgrade reflects the Kerrville, Texas-based system’s improved operating performance, which has continued through the first nine months of fiscal 2026 (ended March 31), exceeding management’s budget expectations, Fitch said.
Phoenix Children’s credit rating was upgraded to “Aa3” from “A1” by Moody’s. The upgrade reflects recent improvement in financial performance, continued improvement in leverage metrics, and Moody’s expectation that the organization will continue to “successfully invest and grow while maintaining excellent liquidity.”
Prisma Health’s credit rating has been upgraded to “A+” from “A” by Fitch. The upgrade reflects Greenville, S.C.-based system’s strong financial profile and operating risk assessment, which Fitch expects to be sustained at or near current levels. Prisma is South Carolina’s largest health system, and nearly half of the state’s population lives within 15 miles of a Prisma provider.
Sarasota (Fla.) Memorial Health Care System’s credit rating was upgraded to “Aa3” from “A1” by Moody’s. The upgrade was driven by the health system’s track record of excellent performance, which will support strong liquidity during a period of high capital spending, Moody’s said.
Tampa (Fla.) General Hospital’s credit rating was upgraded to “A3” from “Baa1” by Moody’s. The health system’s upgrade was driven by its continued diversification, market capture and profitability, Moody’s said.
Tenet Healthcare’s credit rating was upgraded to “BB” from “BB-” by Fitch. The rating reflects the Dallas-based for-profit system’s improved competitive position, including double-digit revenue growth in its high-margin ambulatory segment, Fitch said.
UCHealth’s credit rating was upgraded to “AA+” from “AA” by Fitch. The upgrade reflects the Aurora, Colo.-based health system’s very strong financial profile, benefiting from its market position in a growing service area and a long track record of robust operating margins. UCHealth’s rating also reflects its position as Colorado’s only academic medical center and its close relationship with Boulder-based University of Colorado.
University of North Carolina Health’s credit rating was upgraded to “Aa2” from “Aa3” by Moody’s. The upgrade reflects expectations that the Chapel Hill-based system will continue generating strong cash flow, allowing the system to fund capital needs without significant new debt and absorb near-term reimbursement pressure, Moody’s said.
Wellstar Health System’s credit rating was upgraded to “A1” from “A2” by Moody’s. The upgrade was driven by a continuation of the Marietta, Ga.-based system’s strong operating performance, Moody’s said.
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