S&P Upgrades Bellin Health’s Bond Rating
Financial profile “very strong,” report says
Standard & Poor’s Rating Service this week raised Bellin Health’s long-term bond rating, citing the health system’s solid management and prudent capital investments.
S&P raised its rating for Bellin to A+ from A, grading the organization’s long-term future as stable. Bellin’s rating has been upgraded three consecutive times since its initial BBB+ rating in June 2004.
In its ratings report on Bellin Health, S&P noted:
• The health system’s “very strong” financial and enterprise profiles
• A good management team
• Growing utilization in a very competitive market
• Continued prudent capital investments
George Kerwin, Bellin Health president and CEO, said the upgrade reflects Bellin’s commitment to the organization’s core principles.
“At every turn, our focus is providing consumers a superior experience while helping them manage their healthcare costs,” Kerwin said. “This commitment to cost, quality and the patient experience is reflected in everything we do — and affirmed by this most recent upgrade.”
The S&P bond rating release comes amid news that Bellin Health will issue $45 million in double tax-exempt bonds beginning Thursday, March 19.
Community residents and other interested investors have the opportunity to purchase the bonds through Piper Jaffray, the investment bank underwriting the offering. Individuals interested in a purchase can contact Piper Jaffray’s Don O’Leary at (800) 552-0614.
Bonds will be offered subject to availability. Municipal bonds are not suitable for all investors, especially those in a lower tax bracket. Bonds are subject to market fluctuation and interest rate risks and may be worth more or less than the original cost if sold prior to maturity.
About Bellin Health
Bellin Health, www.bellin.org, is an integrated healthcare delivery system based in Green Bay, Wis. It has serviced people in Northeast Wisconsin and Michigan’s Upper Peninsula since 1908. Bellin Health has more than 3,500 employees and is known for its emphasis on preventive healthcare and is the region’s leader in cardiac, orthopedics, sports medicine, digestive health, mental health, and primary care medicine. It is comprised of Bellin Hospital, Bellin Psychiatric Center, 31 Bellin Health primary care physician clinics, and several retail health clinics known as Bellin Health FastCare. Bellin also operates Bellin Health Partners, a physician-hospital organization with more than 150 specialty physician members, Bellin Health Oconto Hospital, a critical care access hospital in Oconto, Bellin Fitness, and Bellin College. Through its Bellin-ThedaCare Healthcare Partners collaboration, the health system is also a participant in the Centers for Medicare & Medicaid Services (CMS) Pioneer Accountable Care Program, generating $10.8 million in savings since 2012.