Akron, OH, June 20, 2013 – Fitch Ratings, one of the nation’s leading rating agencies, has affirmed Summa Health System’s BBB+ bond rating and its stable outlook. The affirmation affects approximately $435 million of rated debt.
In affirming the rating and outlook, Fitch cited Summa’s execution of its Performance Improvement plan to improve operating profitability, solid liquidity metrics, manageable debt burden, leading market share and alignment with Catholic Health Partners.
Fitch’s last review of Summa came in July of 2012.
About Summa Health System
Summa Health System is one of the largest integrated healthcare delivery systems in Ohio. Encompassing a network of hospitals, community health centers, a health plan, a physician-hospital organization, a multi-specialty physician organization, research and multiple foundations, Summa is nationally renowned for excellence in patient care and for exceptional approaches to healthcare delivery. Summa's clinical services are consistently recognized by the American Nurses Credentialing Center (Magnet® status), U.S. News and World Report, Thomson Reuters and The Leapfrog Group. Summa also is a founding partner of the Austen BioInnovation Institute in Akron. For more information, visit www.summahealth.org or find us on Facebook at www.facebook.com/summahealth and Twitter at www.twitter.com/summahealth.