The CHUM is proud of its Aa2 Moody's rating

MONTREAL, May 27, 2011 /CNW Telbec/ - Today, Moody's Investors Service assigned an Aa2 rating with a stable trend to the Centre hospitalier de l'Université de Montréal (CHUM). This Aa2 rating is the same as that of the Québec government.

"We are proud of the stability of our results and our financial performance over the past few years, and happy that Moody's has recognized the quality of our management. This is excellent news," said Christian Paire, Director General of the CHUM.

In its analysis, Moody's indicated the CHUM's importance as a leading healthcare institution in Québec. Moody's recognizes that "the CHUM has a seasoned managerial team" whose effective and prudent management style is most notably reflected in its adherence to the budgetary objectives set by Québec's ministry of health and social services (MSSS). Lastly, Moody's pointed out that the hospital's sound credit rating could be attributed to such factors as its stable financial results and reasonable debt level.

DBRS's rating for Health Montréal Collective Limited Partnership
It should be noted that on May 19, 2011, the DBRS rating agency assigned a BBB rating (high) with a stable trend to the consortium selected to design, build, finance and maintain the new CHUM, namely the Santé Montréal Collectif SEC/Health Montreal Collective LP. The consortium will soon issue $1.39 billion worth of bonds in order to finance the new hospital, which is slated to open in 2016.

About the CHUM
The Centre hospitalier de l'Université de Montréal (CHUM) is the largest francophone teaching hospital in North America. Known for excellent care and the expertise of its specialists, every year it welcomes more than half a million patients not only from the greater Montreal region but also the entire province of Quebec. The essence of its mission is the application of innovative approaches to healthcare, the search for new knowledge, the promotion of health and the transfer of knowledge. Boasting a rich history, the CHUM is looking to the future with the ongoing construction of new facilities and its research centre in downtown Montreal, a comprehensive project on a single site valued at approximately $2.5 billion. The CHUM Research Centre will open its doors in 2013. It will be followed in 2016 by the unveiling of the new CHUM, a world-class teaching hospital in tune with its community where it plays a major role, in a socially aware perspective of sustainable development and concerted urban approach. It is also an active member of the Réseau universitaire intégré de santé (RUIS) de l'Université de Montréal. chumontreal.com


SOURCE CENTRE HOSPITALIER DE L'UNIVERSITE DE MONTREAL

For further information:

Source : 
Communications Division
Centre hospitalier de l'Université de Montréal (CHUM)

Information:  
Lucie Dufresne
Communication Advisor
Centre hospitalier de l'Université de Montréal (CHUM)
Telephone: 514 890-8000, Ext. 15380
Pager: 514 860-7110

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