Moody’s Investors Service has announced that it upgraded the bond rating for Poudre Valley Health System to reflect the favorable momentum demonstrated by the health system.
Moody’s made the announcement March 19 that the upgrade from Baa2 to Baa1 rating is for $377 million of outstanding debt issued through the Colorado Health Facilities Authority.
This was the second time in six months that Moody’s upgraded its view of PVHS.
In October, the investor service revised its outlook of PVHS from stable to positive.
"This is all great news that demonstrates an excellent trend for PVHS and health care in our region," said Rulon Stacey, PVHS president and CEO. "In a bond market that is facing challenging times, Moody’s upgrade speaks very well to the path that PVHS is on."
Stacey said the news from Moody’s comes at a time when national health-care organizations have been applauding the high quality of the health system’s services.
On March 17, the PVHS Poudre Valley Hospital in Fort Collins was named one of the nation’s 100 top hospitals by Thomson HealthCare, which cited superior outcomes, patient safety, and operational and financial performance as the reasons for the designation.
In late January, the hospital received a prestigious award from the American Nurses Association for achieving continued nursing excellence. PVH was the first and only hospital in the U.S. to receive the award.
"Financial stability and excellence in patient care go hand-in-hand," Stacey said. "It’s impossible to have one without the other."
In announcing its upgrade, Moody’s pointed to these strengths of PVHS: