Ashland, Ky.-based UK King’s Daughters credit rating was upgraded to “A2” from “A3” by Moody’s.
The upgrade reflects King’s Daughters’ accelerated and comprehensive integration with Lexington-based University of Kentucky, which Moody’s said has generated meaningful clinical and financial benefits for the system over a short period of time.The university acquired the health system in December 2022.
Operating alignment with the university has resulted in improvements in physician recruitment, payer negotiations, care delivery and IT functions, Moody’s said in its March 30 report.
The rating also reflects King’s Daughters’ leading market position, according to the report.
The system has a stable outlook at its new rating.
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