Moody’s upgraded the credit ratings of Dayton, Ohio-based Premier Health and Valhalla, N.Y.-based Westchester County Health Care Corp. and Charity Health System on Aug. 18
Premier Health’s rating was upgraded to “A3” from “Baa1.” Moody’s said the upgrade was driven by the system’s continued financial improvement, which supports both strong liquidity and investment in its academic strategy and capital spending.
Moody’s said the A3 rating reflects the system’s strong market position as a key tertiary provider, as well as its growing clinical and strategic integration with Dayton, Ohio-based Wright State University.
Westchester County Health Care Corp. and Charity Health System
Moody’s upgraded Westchester County Health Care Corp.’s rating to “B2” from “Caa1.” The agency also upgraded Charity Health System’s revenue bond rating to “B2” from “Caa1,” reflecting the WCHCC upgrade and its legal guarantee on CHS’ debt.
Moody’s said the upgrade reflects meaningful financial improvement that appears sustainable, supported by ongoing integration and turnaround initiatives, expected benefits from folding nearly all system operations under one health system, and new state grants for operating and capital support.
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