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News
09/01/2010
Standard & Poor’s upgrades PVHS bond rating to solid A
Standard & Poor’s Ratings Services has announced that it upgraded the bond rating for Poudre Valley Health System from an A- to A rating, noting “marked improvements to an already sound balance sheet” and strong business position as evidenced by further growth in market share.

Standard & Poor’s credit committee made the announcement September 1, giving PVHS a stable outlook. This was the second rating increase for PVHS in two years.

S&P’s issuing report recognized that PVHS has continued to build its financial profile, posting excellent financial results and generating robust cash flow. Factors supporting the A rating include the locally-owned health system’s operating results; continued profitability and maturation of Medical Center of the Rockies (the PVHS acute care hospital located in Loveland, Colorado, which opened in 2007); excellent liquidity with 270 days cash on hand; strong coverage of maximum annual debt service; solid and growing business position in northern Colorado; and a sound, stable and forward-looking management team.

“In meeting with the Standard & Poor’s officials, we were told that it is highly unusual to receive a rating increase the year following an increase. We have worked hard to improve our performance, and we are ecstatic about this news,” said Rulon Stacey, president and CEO of Poudre Valley Health System.

Stacey said the news from Standard & Poor’s comes at a time when the national health care system awaits the unknowns of health reform. “There is a significant amount of fear around what reform will bring. I believe PVHS is in a much better position to face these challenges than most healthcare organizations in America.”

Stephanie Doughty, PVHS’s chief financial officer, relates PVHS’s success to a focus on patient care quality. “A focus on quality helps us serve our communities well and prepare for the future. These improvements have truly been a combined effort by staff, physicians and volunteers to drive quality, minimize expenses and reduce capital expenditures,” says Doughty. According to Stacey, “Financial stability and excellence in patient care go hand-in-hand. It’s impossible to have one without the other.”

In its report, S&P notes an expectation that PVHS will continue to produce strong margins and cash flow, as well as balance capital spending with available resources.

The report also highlights PVHS’s long-term strategy of fostering relationships with other regional providers, including its recent affiliation with 115 physicians across multiple cities; its joint venture relationship with Longmont United Hospital to develop a health campus in Frederick, Colorado; and Poudre Valley Medical Fitness, scheduled to open in Windsor, Colorado in December.

For more information, contact Pam Brock, 970.237.7012.
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University of Colorado Health employees dedicate themselves to providing patients and other customers with world-class care and service. Outside organizations recognize that, calling University of Colorado Health's hospitals some of the best in Colorado and even the best in the nation. Some of those accolades are listed below:

 




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