S&P Global Ratings raised the rating to "A-" from "BBB" on Elizabethtown, Ky.-based Hardin Memorial Hospital's series 2013 bonds.
"The upgrade acknowledges meaningfully improved financial performance over the past two years, largely reflecting Medicaid expansion in Kentucky, growth in outpatient services and the hiring of additional physicians," said S&P analyst James Fielding.
The outlook is stable.