Fitch Ratings upgraded Daytona Beach, Fla.-based Halifax Health's series 2016, 2015 and 2008 revenue bonds to "A-" from "BBB+," affecting $343 million of debt total.
In addition, Fitch assigned Halifax Health an issuer default rating of "A-."
The upgrade and assignment are a result of several factors, including the health system's healthy operational performance, strong market position and tax revenue base. Fitch also acknowledged Halifax Health's upcoming capital project and increased debt burden.
The outlook is stable.