18 health systems with credit rating upgrades

Here are 18 health systems that have had their credit ratings upgraded by Fitch Ratings or Moody’s Investors Service in 2025: Baptist Health South Florida’s rating was upgraded to “Aa3” from “A1” by Moody’s. The upgrade highlights the Coral Gables-based system’s measurable operational strengthening and rising cash reserves, Moody’s said. 

Baylor Scott & White Health’s rating was upgraded to “Aa2” from “Aa3” by Moody’s. The upgrade reflects the Dallas-based system’s consistently strong financial performance, driven by “deep and disciplined leadership” and favorable demographic characteristics, Moody’s said.  Bon Secours Mercy Health’s rating was upgraded to “A1” from “A2” by Moody’s. The upgrade reflects the Cincinnati-based system’s durable improvement in operations and liquidity, and fur