Moody’s upgrades Bellin Health’s long-term ratings
GREEN BAY – For the second consecutive year, a major financial ratings organization has upgraded Bellin Health’s long-term financial rating.
Moody’s Investors Service recently upgraded Bellin Health’s long-term and unenhanced ratings from A3 to A2, citing the health system’s continued favorable operating performance.
“The outlook is revised to stable from positive at the higher rating level,” a report summary says.
This fall, another financial rating organization – Standard & Poor’s Rating Service – affirmed the Green Bay-based health system’s long-term bond rating, citing Bellin’s increased market share and strong operating performance. In 2010, S&P raised its rating for Bellin Health 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, Moody’s noted the health system’s:
• Broad service area throughout Northeastern Wisconsin and the Southwestern Upper Peninsula of Michigan
• Track record of favorable operating performance
• Inpatient volume growth in recent years leading to market share growth
• Very high acuity and diversification of services
• Absence of new money debt plans through 2015
George Kerwin, president and CEO at Bellin Health, said Moody’s findings are indicative of Bellin’s efforts to manage growth, operate efficiently, and maintain a level of excellence in patient care quality while effectively aiding consumers’ efforts to manage health care costs.
“As a locally-based health system, we are ever mindful of controlling expenses while continuing to provide localized, top-quality health care to the populations we serve,” he said. “This rating upgrade is a solid indicator that our services are fully aligned with the growing needs of the communities and people we serve and that our efforts to control our internal costs continue to translate to high-quality care at an affordable cost for health care consumers.”