Moody’s, S&P affirm Bellin Health’s bond rating
Agencies cite Bellin’s stability and performance
GREEN BAY — Moody’s Investor Services and Standard & Poor’s Rating Services both affirmed Bellin Health’s bond rating last week, citing the health system’s market strength amongst its competitors and its diversification of services.
Moody’s affirmed Bellin’s A3 rating and issued an outlook of stable. In 2006, Moody’s upgraded Bellin to A3 from Baa1.
S&P also affirmed its rating for Bellin, giving it an A-, and graded the health system’s long-term future as stable. In 2006, S&P upgraded Bellin to an A- from BBB+.
In its rating report, Moody’s noted Bellin’s “ability to generate generally good operating results” and a “disciplined approach to meeting the system’s ongoing capital needs.”
Similarly, in its report, S&P noted solid operations, a stable balance sheet, adequate cash flow, and a forward-looking and strategic management team. The report stated, “Bellin was able to increase its operating margin by focusing on increasing revenues while holding expenses down.”
George Kerwin, Bellin Health president and CEO, applauded Bellin’s staff for the continued success and demonstrated stability. “These ratings reaffirm the hard work and vigilance within our organization,” he said. “By controlling expenses, we are in a position to continue improving our services while helping consumers manage their health care costs.”