LENAWEE CO. — ProMedica has received a credit rating upgrade from Moody’s, returning the health system to investment-grade status.
Moody’s Ratings upgraded ProMedica to a B-a-a-3 rating with a positive outlook. The report cites ProMedica’s position as a market leader in northwest Ohio and southeastern Michigan, supported by its network of hospitals and physicians providing high-acuity care.
Moody’s also pointed to the completion of organizational restructuring, stronger operating discipline, and improved liquidity as key factors behind the upgrade. Those changes are expected to support better cash flow and allow ProMedica to meet ongoing expenses and debt obligations.
ProMedica is a nonprofit health care organization based in Toledo. It operates 10 hospitals, has an affiliated interest in one additional hospital, and employs more than 1,300 health care providers across nine states.