Broward Health has received a major boost from national credit agencies, with Moody’s Investors Service upgrading the North Broward Hospital District’s (NBHD) revenue bond rating from Baa1 to A3 and shifting its outlook to positive from stable. The improvement reflects sustained operational strength, rising patient volumes, and a growing financial foundation across the five-hospital public health system.
Broward Health serves the diverse communities of South Florida, including a large Caribbean-American population that relies on its hospitals, emergency departments, and community health services.
“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 reflects sustained operational strength, substantial growth in liquidity, and a meaningful decrease in the average age of plant — improvements the agency linked to enhanced board structure and strengthened financial 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 credit agencies also boost ratings
Broward Health’s improving performance has been recognized by other major agencies as well.
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S&P Global Ratings upgraded its long-term rating on the system’s 2017B revenue bonds from A- to A+, a rare two-notch increase highlighting major gains in financial stability.
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Fitch Ratings assigned an A+ Issuer Default Rating and an A+ long-term rating on the 2017B bonds, and raised its outlook to positive.
“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.”
Strum added that the strengthened financial position will allow Broward Health to continue expanding services, including investments in new facilities, technology upgrades and freestanding emergency departments.
Broward Health served more than 1.17 million patients in fiscal year 2025 — a 4.3 percent increase over the previous year — with notable growth in physician visits, pharmacy services and primary care.
“We are currently performing at a very high level, and patients recognize that and are choosing Broward Health as their provider of choice,” Strum said. “The future has never been brighter for Broward Health.”
