While dozens of health care providers have experienced a ratings downgrade, things are looking up for Baycare, the largest health care system in the Tampa Bay area.
It was one of just three Florida not-for-profit health providers to see a ratings upgrade during the second quarter of 2012, according to Moody’s Investors Service.
BayCare was upgraded to Aa2 from Aa3.
The report attributes its consistently strong operating performance to its rapid debt repayment led by a solid management team.
A total of just nine not-for-profit providers nationwide received upgrades in the second quarter.
“The increased proportion of downgrades were driven by the continued slow economic recovery, increasing pressure on state budgets, and a large and growing federal deficit,” Carrie Sheffield, Moody’s associate analyst, said in a statement.
“The deficit problem may lead to reductions in Medicare and Medicaid, which translate into weak volumes and revenue declines for hospitals.”
