S&P affirms Bellin Health’s bond rating
GREEN BAY – Standard & Poor’s Rating Service recently affirmed Bellin Health’s long-term bond rating, citing the health system’s increased market share and continued strong operating performance.
In 2010, S&P raised its rating for Bellin to A from 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 latest ratings report on Bellin Health, S&P noted the Green Bay-based health system’s:
• Improved business position and market share stemming from diversified services, service line growth, and an expansion its service area
• Strategic focus on growth, cost and clinical quality resulting in favorable payer contracts and the ability to operate profitably
• Trend of strong operating performance in the past three years and solid maximum annual debt service coverage
• Increasing and good liquidity
George Kerwin, Bellin Health president and CEO, said the report’s findings are indicative of Bellin’s continued and focused effort to provide top-quality health care services at an affordable cost to residents in the Northeastern Wisconsin region and Michigan’s Upper peninsula.
“Bellin Health continues to strive for operational efficiency while producing superior results and pursuing our vision that the people in our region are the healthiest in the nation,” Kerwin said. “This most recent bond rating affirmation is an indicator that our services are aligned with the needs of the communities we serve and our efforts to control our internal costs continue to translate to high-quality care at an affordable rate for health care consumers.”