CLEVELAND – Due to its strong financial performance despite a challenging economic environment, University Hospitals has been able to affirm its bond ratings.

Both Standard and Poor’s Ratings Services and Moody’s Investors Service made public University Hospitals’ A and A2 ratings, respectively, with a stable outlook. The ratings agencies’ favorable assessments are based on University Hospitals’ (UH) financial and operating performance, and reflect the health system’s continued achievement of budget expectations.

“These ratings, which are based on a thorough review of our operations and financial performance, are a confirmation of University Hospitals’ strong financial position,” says Michael A. Szubski, Chief Financial Officer, UH. “The ratings also reflect our ability to achieve our strategic objectives and maintain market share in a competitive health care environment.”

UH is in the market over the next week, selling up to $100 million of fixed rate bonds, $45 million of which are to complete the external bond financing of the health system’s Vision 2010 projects, and the remainder of which are to restructure certain other UH indebtedness. These positive financial ratings enable University Hospitals to continue to secure capital to complete Vision 2010, UH’s $1.2 billion construction and technology upgrade throughout Northeast Ohio.

Construction projects include the UH Ahuja Medical Center in Beachwood, the UH Cancer Hospital and Center for Emergency Medicine at UH Case Medical Center and the recently completed Neonatal Intensive Care Unit at UH Rainbow Babies & Children’s Hospital, UH Concord Health Center and UH Twinsburg Health Center.