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Bond Ratings and Disclosures

UPMC’s close attention to quality and costs has yielded tangible returns in the financial markets, as reflected in its credit ratings from all three major rating agencies: Moody’s Investors Service, Fitch Ratings, and Standard & Poor’s (S&P).


On September 25, 2015, Moody’s Investors Service affirmed its “Aa3” long-term rating on UPMC’s bonds. The rating outlook is changed to Negative.

The “Aa3” rating is attributable to UPMC's size and market reach, well-positioned community hospitals, and ownership of a sizable health plan.

Fitch Ratings

On September 22, 2015, UPMC received an affirmation of its "AA-" long-term credit rating from Fitch Ratings. The rating outlook is revised from Negative to Stable.

Fitch views UPMC’s market share, its revenue diversification, and its growth in insurance services as its credit strengths in the midst of a stabilizing competitive market.

Standard & Poor’s

On September 25, 2015, Standard & Poor’s (S&P) affirmed UPMC’s “A+” long-term credit rating and revised its outlook from Stable to Negative.

This rating reflects S & P’s view of UPMC’s strong enterprise profile as a key credit factor, highlighted by its significant revenue diversity and provider presence in Western Pennsylvania.

Most Recent Bond Rating Letters

UPMC Quarterly Disclosure
For the period ended
March 31, 2016 (PDF)

UPMC FY2016 Q3 financial results press release and support slides (PDF).

Audited Consolidated Financial Statements Years ended June 30, 2015 and 2014 with report of independent auditors.


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