Moon Township, PA, (December 28, 2011) –As part of its recent bond refinancing, Heritage Valley Health System was the recipient of high ratings and “stable outlooks” from the three top financial ratings agencies: Standard & Poor's (S&P) Ratings Services, Fitch Ratings, and Moody’s Investment Services. Standard & Poor’s issued a long term rating of “AA-”; Fitch Ratings assigned an “A+” rating, and Moody’s assigned an “A1” rating to Heritage Valley Health System’s 2012 Bonds.

“Through their hard work and dedication each and every day, our medical staff and employees realize that the organization is a community resource and must be managed with care. These ratings from the top New York rating agencies affirm that Heritage Valley Health System continues to be headed in the right direction,” said Norm Mitry, president and CEO of Heritage Valley Health System. “Our visionary and well-disciplined board of directors continues to reinvest in our organization while emphasizing an attention to fiscal responsibility, ensuring that our health system remains an asset to the communities we serve.”

Standard & Poor’s Ratings Services expanded on the rationale of the rating in its report, stating that Heritage Valley Health System’s balance sheet is very strong and is highlighted by a very low debt load and good unrestricted liquidity. The stable outlook, reflected in the S&P report, states that the organization anticipates Heritage Valley “will sustain improvement in operations achieved in the second half of fiscal 2011 and the first four months of fiscal 2012 as a result of management’s substantial cost-saving efforts.”

Fitch Ratings points to the following key rating drivers in determining the “A+” rating for Heritage Valley Health System: strong market share, excellent liquidity, light debt burden, adequate operating performance, and solid strategic position. The report states the “Stable Outlook reflects Fitch’s belief that HVHS’s [Heritage Valley Health System] financial profile will remain stable over the near term, with no major debt issuance expected.”
Moody’s Investor Services also issued a stable outlook for Heritage Valley, which it stated in its report “reflects our expectation that HVHS will demonstrate a return to profitable operations in FY2012 while maintaining healthy balance sheet metrics.”

“There’s no doubt that these are challenging times for the health care industry,” said Bryan Randall, vice president and chief financial officer at Heritage Valley. “At Heritage Valley we are monitoring these challenges and initiating proactive management strategies so that we continue to be recognized – locally and nationally – as a leader in the delivery of community health care.”