Moody's upgraded Chattanooga, Tenn.-based Erlanger Health System's credit rating to "Baa1" from "Baa2."
Erlanger's outlook remains positive at the higher rating level, Moody's said in a July 15 report.
The upgrade and positive outlook reflect Erlanger's successful execution of key initiatives to drive stronger operating results and grow liquidity, which improve operating flexibility, Moody's said.
Erlanger's rating is anchored by its growing market position and service area essentiality as a Level 1 trauma center, tertiary care service provider, and dedicated children's hospital, Moody's said.