Moody’s Affirms “A2” Rating of Heritage Valley Health System
Heritage Valley Health System was the recipient of a high rating and “stable outlook” from Moody’s Investors Service. Moody’s affirmed a long term rating of “A2” for Heritage Valley Health System’s 2012 Bonds.
“The rating and outlook 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 health care industry,” said Norm Mitry, president and CEO of Heritage Valley Health System. “The favorable feedback from Moody’s is the direct result of the board of directors’ commitment to fiscal responsibility as a means to ensure that our health system remains an asset to the communities we serve.”
Moody’s expanded on the stable rating outlook indicating the rating reflects their belief that operating performance and the balance sheet will maintain at these levels as management continues its focus on maintaining profitability and liquidity.
“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 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.”