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Moody's Removes West Penn Allegheny Health System From 'Watchlist'

PITTSBURGH, Nov. 10 /PRNewswire/ -- West Penn Allegheny Health System (WPAHS) confirmed today that Moody's Investors Service has removed it from its Watchlist for potential downgrade.

Christopher T. Olivia, M.D., President and Chief Executive Officer of WPAHS, said:

"This is an encouraging development, particularly in Moody's affirmation of the 'new management team's relatively quick identification and response to a substantially weaker financial condition, the retention of consultants and the development of a significant improvement plan (half of which has already been implemented).'"

Dr. Olivia continued:

"Most important is Moody's recognition that we are making steady progress in our turnaround plan, as we continue to bolster our financial strength and enhance the delivery of quality medical service to our primary constituents, the people of Western Pennsylvania."

SOURCE West Penn Allegheny Health System
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