CONSHOHOCKEN, PA — AdaptHealth Corp. (Nasdaq: AHCO) said Moody’s Ratings has upgraded its credit profile, citing progress in debt reduction and stronger financial flexibility as the healthcare-at-home provider sharpens its strategic focus.
Moody’s Ratings raised the Corporate Family Rating of AdaptHealth, LLC to Ba2 from Ba3 and upgraded the company’s senior unsecured notes rating to Ba3 from B1. The move follows an issue-level upgrade by S&P Global Ratings on AdaptHealth’s senior unsecured debt in November 2025.
“Moody’s Ratings’ upgrade follows S&P Global Ratings’ upgrade of our issue-level rating on our senior unsecured debt in November 2025 and is yet another important recognition of the actions we are taking to strengthen our balance sheet, improve our risk profile, and increase our financial flexibility,” said Suzanne Foster, chief executive officer of AdaptHealth.
Foster said the company has made a “meaningful reduction” in its term loan A balance since the third quarter of 2024, driven by strong free cash flow generation and proceeds from the sale of non-core assets. She said debt reduction remains a top capital allocation priority.
“We believe a strong balance sheet is essential to unlocking and sustaining value for shareholders,” Foster said.
AdaptHealth provides patient-centered healthcare-at-home solutions, including home medical equipment, medical supplies, and related services. The company operates across four segments: Sleep Health, Respiratory Health, Diabetes Health, and Wellness at Home.
Its Sleep Health segment focuses on therapy and equipment for obstructive sleep apnea, including CPAP and BiLevel services. Respiratory Health provides oxygen and home mechanical ventilation for chronic respiratory conditions. Diabetes Health supplies devices such as continuous glucose monitors and insulin pumps, while Wellness at Home supports patients transitioning from acute care or managing complex conditions with durable medical equipment and in-home services.
The company partners with a broad network of referral sources, including hospitals, sleep labs, pulmonologists, skilled nursing facilities, and clinics. AdaptHealth serves Medicare, Medicaid, and commercially insured patients, reaching about 4.3 million people annually across all 50 states through approximately 640 locations in 47 states.
The ratings upgrade signals increased confidence from credit agencies as AdaptHealth continues to reduce leverage and streamline operations amid ongoing demand for in-home healthcare services.
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