Fort Lauderdale, Florida — In a nod to Broward Health’s ongoing optimal financial performance, Moody’s Ratings has upgraded the system’s bond rating. Moody’s upgraded the North Broward Hospital District (NBHD), which operates as Broward Health, to A3 from Baa1. Moody’s also raised the five-hospital healthcare system to positive from stable, citing sustained operational strength and improved liquidity.
“Our continued focus on high-quality care and operational discipline is delivering measurable results,” said Alisa Bert, chief financial officer and senior vice president of financial operations. “Moody’s recognition affirms the financial strength Broward Health is building and our commitment to maintaining a strong health system for our community.”
According to Moody’s, the upgrade to A3 from Baa1 reflects a sustained trend of strong operations, substantial liquidity growth and a notable decrease in the average age of plant, reflecting a positive shift in board structure and policies.
“The A3 reflects NBHD’s vital role in Northern Broward County, as a safety net provider,” Moody’s reported. “NBHD has demonstrated a consistent pattern of robust cash flow and increasing cash reserves.”
Additional rating improvements from S&P Global Ratings and Fitch Ratings further demonstrate the system’s progress toward long-term financial stability. S&P Global Ratings upgraded its long-term rating on Broward Health’s 2017B revenue bonds from A- to A+. The two-rating upgrade from S&P is a rare achievement that underscores significant improvements in Broward Health’s financial stability and operational performance.
Fitch Ratings assigned an A+ Issuer Default Rating and an A+ long-term rating to Broward Health’s 2017B revenue bonds. Fitch also upgraded the outlook to positive, reflecting continued confidence in the system’s financial strength.
“All of these rating upgrades from independent financial bodies are a clear indication that Broward Health has made significant strides in its financial performance,” said Shane Strum, President & CEO of Broward Health. “Our patient volumes and revenues have exceeded expectations while operational expenses have been held in check. These successes enable Broward Health to make significant capital investments across the county, acquiring new properties, building new freestanding emergency departments and purchasing the latest technology.”
In fiscal year 2025, Broward Health served more than 1.17 million patients, with notable increases in physician, pharmacy and primary care visits. This was a 4.3% over the prior year.
“We are currently performing at a very high level, and patients recognize that and are choosing Broward Health as their provider of choice,” concluded Strum. “The future has never been brighter for Broward Health.”
Broward Health, founded in 1938 and headquartered in Fort Lauderdale, Florida, ranks among the 10 largest public healthcare systems in the United States. Nationally recognized for its focus on high-quality care for the residents of Broward County and beyond, Broward Health boasts five hospitals, two trauma centers, a dynamic academic partnership with Florida Atlantic University, was the county’s first statutory teaching hospital and has an ever-growing graduate medical education program. It includes more than 50 health centers and physician practices covering virtually every healthcare specialty.
Broward Health never stops working toward its mission of Exceptional Care, Extraordinary Compassion and Everyday Excellence. Driven by more than 11,000 talented employees and physicians who deliver care to all patients, regardless of their ability to pay, Broward Health is one of the largest employers in Broward County with an operating budget of $1.6 billion, and annually provides more than $522.6 million of charity and uncompensated care.
