November 2002

Catholic Health Initiatives Debt Rating
Upgraded to AA

Three major debt rating agencies – Standard & Poor’s, Moody’s Investors Service and Fitch Ratings – have upgraded their debt ratings for Catholic Health Initiatives to AA.
  • In upgrading Catholic Health Initiatives rating from AA- to AA, Standard & Poor’s cited the system’s three years of sustained improvement in financial performance; strong controls at the system and market levels; and solid levels of liquidity.
  • Moody’s upgraded Catholic Health Initiatives from AA3 to AA2 based on strong diversification of facilities; good diversification of operating cash flows; and an adequate balance sheet profile.
  • Fitch upgraded Catholic Health Initiatives from AA- to AA based on "improved and sustained profitability, brought about by effective management practices."
"We are grateful to all throughout Catholic Health Initiatives who worked so diligently to support these upgrades," said Geraldine M. Hoyler, CSC, senior vice president of finance and treasury for Catholic Health Initiatives. "We know that hard work will be required to maintain these favorable ratings."