Fitch Ratings upgraded the rating on Beaver, Pa.-based Heritage Valley Health System's revenue bonds to "AA-" from "A+," affecting $51.6 million of debt.
Concurrently, Fitch assigned HVHS an issuer default rating of "AA-."
The upgrade and assignment are based on several factors, including HVHS' healthy market position, solid operating performance, low leverage metrics and favorable liquidity metrics. Fitch also acknowledged the health system's unfavorable service area with an aging and declining population base.
The outlook is stable.