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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 8, 2014, Moody’s Investors Service affirmed its “Aa3” long-term rating on UPMC’s bonds. The rating outlook is Stable.

The “Aa3” rating continues to reflect UPMC's leading and growing market position in Western Pennsylvania, strong patient demand, preeminent clinical reputation rooted in tertiary and quaternary clinical campuses throughout the greater Pittsburgh area and a large network of well-positioned community hospitals throughout western Pennsylvania, and a long track record of effectively addressing operating challenges.

Fitch Ratings

On September 8, 2014, UPMC received an affirmation of its "AA-" long-term credit rating from Fitch Ratings. The rating outlook is maintained at Negative.

Fitch views UPMC’s dominant market share and its revenue diversification as its credit strengths in the midst of increasing competitive pressure.

Standard & Poor’s

On September 8, 2014, Standard & Poor’s (S&P) affirmed UPMC’s “A+” long-term rating and Stable Outlook.

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

Most Recent Bond Rating Letters

UPMC Quarterly Disclosure
For the period ended
June 30, 2015 (PDF)

UPMC FY2015 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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