NEW YORK - Moody's Investors Service has upgraded to Baa2 from Baa3 the long-term ratings assigned to Mount Sinai Medical Center of Florida's (MSMC) outstanding debt issued through the city of Miami Beach Health Facilities Authority. The rating outlook is stable at the higher rating level. Approximately $245.3 million of debt is affected by this action.

The upgrade to Baa2 follows a fundamentally improved operating profile, improved balance sheet measures, and increased volume capture, particularly in higher end clinical areas such as cardiac services.

These strengths are tempered by the competitive market in which MSMC operates, ongoing Medicaid funding pressures in Florida and above average leverage measures. The stable rating outlook reflects our expectation that continued revenue and expense initiatives will result in maintenance of current operating margins and further strengthening of the system's cash position.

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