Greenville, S.C.-based Prisma Health’s rating was upgraded to “A2” from “A3” by Moody’s.
The upgrade reflects the system’s maintenance of strong operating cash flow, translating into improving liquidity, Moody’s said in a July 15 report.
Moody’s also said that the A2 rating reflects Prisma’s large size, good clinical reputation and strong market position across a 21-county service area in South Carolina.
“Prisma’s good brand and position in service areas with strong population growth will drive patient demand and volume growth, particularly in outpatient service,” the ratings agency said in the report.
The system has a positive outlook at its upgraded rating, which reflects the likelihood that “continued strong financial performance will allow Prisma to maintain good liquidity and low leverage despite elevated capital spending as the system continues to invest in order to meet growing demand,” Moody’s said.
Prisma’s rating was also upgraded to “A” from “A-” by Fitch in late June. The system also has a positive outlook with Fitch.
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