A1 rating for ACH

A1 rating for ACH

AKRON

Moody’s Investors Service has re-affirmed Akron Children’s Hospital’s A1 rating, with a stable outlook on its $190 million of outstanding debt.

According to Moody’s, the A1 rating is based on Akron Children’s leading market share as a regional pediatric provider, strong operating performance and maintenance of good balance-sheet ratios.

Additionally, the Aug. 12 issue of Becker’s Hospital Review cited Akron Children’s as one of five hospitals and health systems with strong operational metrics and solid financial positions based on recent reports from Moody’s and Fitch Ratings.

Alcoa expanding

NEW YORK

Lightweight-metals leader Alcoa is expanding its research-and-development center in Pennsylvania to accelerate the development of advanced 3-D-printing materials and processes. Alcoa will produce materials designed for aerospace, automotive, medical and building and construction markets. The $60 million expansion is under construction at the Alcoa Technical Center in Pittsburgh.

Alcoa completed its merger with RTI International Metals Inc., with a plant on Warren Avenue in Weathersfield.

BWC memorial

COLUMBUS

The Ohio Bureau of Workers’ Compensation on Thursday had the fifth annual Fallen Workers Memorial honoring Ohio workers who died as the result of a workplace accident. BWC Administrator/CEO Steve Buehrer was joined by members of the BWC Board of Directors, along with labor and business leaders, at the ceremony in BWC’s William Green Building.

The names of 132 workers were read aloud during the ceremony, including 64 allowed claims with dates of death in the last policy year and another 68 allowed claims with dates of death that fell within the two-year filing period and were not included in previous memorials.

Talks with India

CLEVELAND

Youngstown/Warren Regional Chamber President and Chief Executive Officer Tom Humphries and Vice President of Economic Development Sarah Boyarko joined a group of Northeast Ohio business leaders for discussions with India Consul General Dnyaneshwar M. Mulay and Deputy Consul General Manoj Kumar Mohapatra. The Indian officials provided updates on the latest opportunities for U.S. companies interested in investing or doing business with India.

“The new prime minister of India is pro-business, so the opportunity is upon us to attract companies willing to make substantial investments in the Valley and bring high-paying jobs into our region,” Humphries said.

Trade deficit falls

WASHINGTON

The U.S. trade deficit fell in July to the lowest level in five months as exports posted a small gain while imports declined, reflecting a big drop in shipments of consumer goods such as cellphones.

The deficit narrowed to $41.9 billion in July, a 7.4 percent decline from a June imbalance of $45.2 billion, the Commerce Department reported Thursday.

Staff/wire reports