In this paper, some issues related to the impedance based stability criterion such as RHP poles in the minor loop gain, how to specify source and load impedances, and nodedependent stability margins are discussed and the vector fitting method is used to improve the method. This results in an eigenvalue analysis of the system instead of using the Nyquist diagram, and leads to obtain more information about the system. Furthermore, a participation factor analysis can be used to identify the problematic subsystem. The proposed method is examined in the assessment of a stable and an unstable system and simulation results are used for verification.