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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 13, 2013, 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 17, 2013, UPMC received an affirmation of its "AA-" long-term credit rating from Fitch Ratings. The rating outlook has been revised to Negative from Stable.

Fitch Ratings continues to credit UPMC’s dominant market share presence and strong management practices for its "AA-" rating.

Standard & Poor’s

On September 16, 2013, Standard & Poor’s (S&P) affirmed UPMC’s “A+” long-term rating and Stable Outlook.

This rating reflects UPMC’s record of effectively addressing operating challenges; and its strong business position as an integrated regional delivery system based in Pittsburgh, with a dominant business position in Allegheny County and a solid position in a large 29-county area in western Pennsylvania.  

Most Recent Bond Rating Letters


Unaudited Quarterly Disclosure Statement
For the period ending
June 30, 2014.

Audited Consolidated Financial Statements Years ended June 30, 2013 and 2012, with report of independent auditors.

FY2014 UPMC financial results press release and support slides (PDF).



Digital Assurance Certification LLC

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