Moody's upgraded Baltimore-based Mercy Health Services' rating to "A3" from "Baa1."
The upgrade reflects the health system's "increased unrestricted liquidity and lower leverage achieved over multiple years owing to strong and stable operating performance, a governance consideration," Moody's said in an Aug. 22 report.
Moody's said ongoing investment in ambulatory services and physician recruitment will contribute to good volumes and enable the system to maintain strong financial performance.
Mercy Health Services has a stable outlook with Moody's.