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News
09/24/2010
Moody’s upgrades PVHS bond ratings, citing strong financial performance
Moody’s Investors Service announced September 23 that it upgraded the bond ratings of Poudre Valley Health System based upon the health system’s consistently strong financial performance.

Moody’s upgraded $340 million in bonds from A3 to A2 and $30 million in bonds from Baa1 to A3. The ratings carry a stable outlook.

This was the second upgrade of PVHS bond ratings this month; Standard & Poor’s Rating Service upgraded the health system’s rating from A- to A on September 1.

Moody’s stated in an announcement that the improvement reflected the health system’s strong financial performance and favorable patient volume trends at the two PVHS-hospitals: Poudre Valley Hospital, Fort Collins, and Medical Center of the Rockies, Loveland.

“We expect performance in fiscal year 2010 to be strong as well,” Moody’s stated.

Rulon Stacey, PVHS president and CEO, said Moody’s upgrades reflect the health system’s decade-long effort to develop a healthy financial position while providing high quality patient care.

“Our focus on quality continues to enhance our financial position,” he said. “For this, we can thank our employees, physicians and volunteers who have emphasized quality while minimizing expenses. This combination truly provides healthcare value to the communities we serve.”

Stephanie Doughty, PVHS chief financial officer, said the health system’s strong financial condition is an important benefit in a time when national healthcare reform may have significant impacts on the industry.

“Currently, there are many unknowns on the horizon for health care, so it’s critically important for us to remain financially solid,” she said.

For more information, contact Gary Kimsey, 970.495.7427.
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