Fitch raised revenue cycle management company Waystar's rating to "BB-" from "B."
The ratings agency said in a June 13 report that the upgrade reflects its expectations for decreased leverage following the completion of Waystar's IPO and that the company has used the proceeds to pre-pay a portion of the term loan.
Fitch also noted that with Waystar's completed integration of its eSolutions and Patientco acquisitions, it expects the company to be "one of the more meaningful revenue cycle management providers, with a continuing pace of share gains."
"The company's RCM offering is unique with processing capabilities across commercial and governmental payers and a strong patient engagement/payments platform," Fitch said.