Heritage Valley Bond Ratings Upheld with Stable Outlook Reviews
Heritage Valley Health System received favorable ratings and stable outlook reviews from the three leading financial rating agencies - Moody’s Investors Service, S&P Global Ratings and Fitch Ratings. The ratings for Heritage Valley Health System released in the last quarter of 2017 included ratings of “A2” by Moody’s Investors Service, “A+” by S&P Global Ratings and “A+” by Fitch Ratings. The agencies affirmed a “Stable” outlook for Heritage Valley Health System.
“The positive feedback is the direct result of the Heritage Valley Health System board of directors’ commitment to fiscal responsibility as a means to ensure that our health system remains an asset to the communities we serve,” said Norm Mitry, president and CEO of Heritage Valley Health System. “The ratings and outlook from these leading financial ratings agencies reflect the dedication that our medical staff and employees exhibit every day to ensure that we efficiently and effectively manage in the ever-changing and ever-challenging healthcare industry,”
All three ratings agencies referenced Heritage Valley’s solid local market position, robust liquidity, modest debt load and expense management as reasons to maintain the Health System’s current ratings and outlook.
“At Heritage Valley, management, medical staff, and employees understand the organization’s commitment to fiscal responsibility,” said Bryan Randall, vice president and chief financial officer at Heritage Valley. “Managing our operations every day with this in mind has made Heritage Valley a health system that continues to be recognized – locally and nationally – as a leader in the delivery of community health care.”
About Heritage Valley Health System
Heritage Valley Health System is a $480 million integrated delivery network providing comprehensive health care for residents of Allegheny, Beaver, Butler and Lawrence counties, in Pennsylvania; eastern Ohio; and the panhandle of West Virginia. In partnership with 3,500 employees and more than 480 physicians, Heritage Valley offers a broad range of medical, surgical and diagnostic services at its two hospitals, Heritage Valley Sewickley and Heritage Valley Beaver; in 60 physician offices; and 18 community satellite facilities. For more information about Heritage Valley Health System, please visit www.heritagevalley.org.