Here are seven health systems that had their outlooks upgraded by Fitch Ratings or Moody's Investors Services since March 22.
Note: This is not an exhaustive list. Health systems were compiled from credit rating reports.
Care New England's outlook was upgraded to stable from negative by Fitch. The revision reflects the Providence, R.I.-based system's improved credit profile since Fitch assigned a negative outlook in 2022. Care New England has a "BB-" rating with Fitch.
Fairview Health Services' outlook was upgraded to stable from negative by Moody's. Moody's said the revision reflects anticipated improvements in the Minneapolis-based system's operating cash flow margins in fiscal year 2024 and beyond. Fairview has a "Baa1" rating with Moody's.
Prime Healthcare's outlook was upgraded to stable from negative by Fitch. The upgrade reflects Fitch's expectation that the Ontario, Calif.-based system will further reduce contract labor expense, realize increased revenue from state Medicaid supplemental payment programs and benefit from an industry-wide upturn in volume growth. Prime has a "B" rating with Fitch.
Memorial Health's outlook was upgraded to stable from negative by Moody's. The revision reflects the Springfield, Ill.-based system's recent rebound in operating performance toward pre-pandemic levels, which will likely be durable, Moody's said. Memorial has an "A1" rating with Moody's.
Stanford Health's outlook was upgraded to positive from stable by Moody's. The boosted outlook reflects the Palo Alto, Calif.-based system's "exceptional patient demand and operational momentum, enabling it to generate strong cash flow," Moody's said. Stanford has an "Aa3" rating with Moody's.
Sutter Health's outlook was upgraded to positive from stable by Fitch. The upgrade reflects Fitch's expectation that the Sacramento, Calif.-based system's broad delivery of care network will continue to grow and remain in strong demand across all its markets. Sutter has an "A+" rating with Fitch.
Tenet Healthcare's outlook was upgraded to positive from stable by Fitch. The rating reflects the Dallas-based system's improving competitive position and the durability of its financial results in recent years, led by the increasing contribution of an ambulatory segment. Tenet has a "B+" rating with Fitch.