Moody’s Investors Service last week upgraded to Baa2 from Baa3 its rating on Ball Memorial Hospital, affecting $101 million of bonds.
The Delaware County Hospital Authority issued the debt on the hospital’s behalf.
The outlook is positive, Moody’s said.
Strong credit characteristics include a dominant market share — Ball Memorial is the only hospital in Delaware County — as well as improving operating margins and benefits from its relationship with Indiana University Health, Moody’s said.
IU Health, formerly called Clarian Health Partners, became the sole corporate member of Ball Memorial in January 2009.
