Fitch Ratings upgraded the rating on Mount Sinai Medical Center of Greater Miami's debt to "A-" from "BBB+."
Concurrently, Fitch assigned the medical center an issuer default rating of "A-"
The upgrade and assignment are based on several factors, including the medical center's favorable market share, historically strong operating performance, moderate leverage metrics and improving liquidity. Fitch also acknowledged the medical center's high debt burden. However, the debt burden is expected to lower after its construction project is completed in late 2018.
The outlook is stable.