Here are 27 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.
Children’s Nebraska’s credit rating was upgraded to “AA” from “AA-” by Fitch. The upgrade reflects the Omaha-based system’s dominant market position as the only comprehensive pediatric provider in its state and region, as well as the completed Hubbard Center for Children expansion, which has helped stabilize its strong financial profile, operating cash flow and market share, Fitch said.
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.
Community Health Systems’ credit rating was upgraded to “Caa1” from “Caa2” by Moody’s. The upgrade reflects the publicly traded for-profit system’s material deleveraging in recent years through substantial debt paydown, while maintaining revenue and EBITDA at a nearly flat level, 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.
Excela Health’s credit rating was upgraded to “Baa1” from “Baa3” by Moody’s. The upgrade reflects expected strategic and financial benefits from the Greensburg, Pa.-based system’s integration with Morgantown, W.Va.-based WVU Health System, Moody’s said. WVU Health System acquired Excela parent Independence Health System’s five hospitals Oct. 1. Moody’s expects WVU Health System’s scale and resources, including expense management opportunities and substantial capital investments, to support improved financial performance, market share and patient volume growth at Excela. The system has a positive outlook at its new rating.
Genesis HealthCare System’s credit rating was upgraded to “Baa3” from “Ba1” by Moody’s. The upgrade reflects the Zanesville, Ohio-based system’s continued deleveraging alongside a sustained run of solid financial performance, Moody’s said. The rating also reflects the system’s essential role as a sizable rural provider and its limited competition as a sole community provider.
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.
Palomar Health’s credit rating was upgraded to “B2” from “Caa1” by Moody’s. The upgrade comes after the Escondido, Calif.-based system and UC San Diego Health completed the formation of a joint powers authority on July 1. A JPA is a legal entity that allows two public health agencies to jointly run hospitals and clinics, share decisions and improve care for the community. The formation of the JPA materially reduces risk of near-term default, Moody’s said. Palomar has a positive outlook at its new rating.
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.”
Premier Health’s credit rating was upgraded to “A3” from “Baa1.” Moody’s said the upgrade was driven by the Dayton, Ohio-based system’s continued financial improvement, which supports both strong liquidity and investment in its academic strategy and capital spending, Moody’s said.
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.
ProHealth Care’s credit rating was upgraded to “Aa3” from “A1” by Moody’s. The upgrade reflects the Waukesha, Wis.-based system’s sustained strong financial performance and liquidity well above peers, which have helped it pay down debt, Moody’s said.
San Antonio Regional Hospital’s credit rating was upgraded to “A3” from “Baa1” by Moody’s. The upgrade reflects the Upland, Calif.-based hospital’s strengthened balance sheet, including sustained operating cash flows that have remained resilient through industry headwinds, Moody’s said. The hospital also has a leading market position in a competitive Southern California service area.
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.
UF Health Jacksonville’s credit rating was upgraded to “Baa2” from “Ba1” by Moody’s. The upgrade reflects the Jacksonville, Fla.-based system’s stronger-than-expected financial performance and liquidity tied to new directed payment programs, strategic initiatives and new leadership, Moody’s said. The system has a growing strategic role as the hub of UF Health’s northeast Florida expansion, including growth at its North campus and ambulatory sites.
UF Health Shands’ credit rating was upgraded to “A2” from “A3” by Moody’s. The upgrade reflects the Gainesville, Fla.-based system’s financial performance and liquidity, which have far outpaced expectations, driven by new directed payment programs and strategic initiatives carried out after structural changes and the arrival of a new management team, Moody’s said. The system has a strong academic medical center franchise, a growing regional footprint and deepening alignment with the University of Florida.
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.
Wayne HealthCare’s credit rating was upgraded to “BBB-” from “BB+” by Fitch. The upgrade reflects two years of improved financial operations and a strengthened balance sheet following the Greenville, Ohio-based hospital’s conversion to a critical access facility in June 2024, Fitch said. Growth in the hospital’s cardiology and orthopedic surgery service lines, improved revenue cycle performance, and strong cost controls also support the upgrade. The hospital has a positive outlook at its new rating.
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.
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. Both are located in Valhalla, N.Y.
