Business Digest

Hospital’s outlook

Akron

Moody’s Investors Service recently revised the investment outlook for Akron Children’s Hospital from negative to stable on the hospital’s now $117.7 million of outstanding debt. Though the A1 grade remained unchanged, the outlook improved based on the hospital’s improved operating performance and maintenance of solid liquidity and debt coverage in 2009, the hospital said in a press release. The hospital system’s strong volume growth is largely due to the opening of the pediatric hospital in Boardman and the leasing and operating of the neonatal special-care nursery at St. Elizabeth Health Center in Youngstown. Akron Children’s plans on investing an estimated $31 million in capital expenditures in 2010.

Wholesale prices

washington, D.C.

Wholesale prices rose more than expected in March as food prices surged to their highest point in 26 years. The Producer Price Index rose by 0.7 percent in March, due to a rise in food and energy costs, the Labor Department reported Thursday. There was little sign of inflation in the report, which measures price changes before they reach the consumer. Excluding food and energy costs, which can be volatile, wholesale prices rose by 0.1 percent. Low inflation has allowed the Federal Reserve to keep short-term interest rates at a record low in an effort to boost the economy.

Vindicator staff/wire reports