University of Colorado Hospital upgrade

Moody's Investors Service has upgraded University of Colorado Hospital's revenue bond rating, citing "very strong" operating margins and a stable outlook.

"Moody's announcement is a rare burst of bright sunshine in a generally gloomy economic time for hospitals and the world in general," said Bruce Schroffel, President and CEO of University of Colorado Hospital.

"This tremendous news means the hospital will pay less interest on bonds, saving hundreds of thousands of dollars annually," said Schroffel. It comes at a time when many other hospitals around the country are experiencing deep financial difficulties.

In its decision, Moody's cited University of Colorado Hospital's successful operating performance since moving to the Anschutz Medical Campus in June 2007, strong operating margins and positive growth. Patient volume has continued to grow briskly.

"We've been able to achieve this financial strength while continuing to meet the community's need for substantial increases in uncompensated care, which we estimate will be $195 million for fiscal year 2009, 15 percent higher than 2008" Schroffel added.