S&P Global Ratings upgraded Southfield, Mich.-based Beaumont Health's long-term rating to "A+" from "A."
The upgrade is a result of several factors, including the health system's leading market position, strong leadership team, manageable debt burden and growing cash on hand. S&P acknowledged the health system's decline in inpatient utilization.
The outlook is stable, reflecting Beaumont's successful implementation of various operating strategies to maintain cash flow.