S&P upgrades Bellin Health’s bond rating
GREEN BAY – Standard & Poor’s Rating Service recently raised Bellin Health’s long-term bond rating, citing the health system’s strategic growth and cost containment efforts.
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 ratings report on Bellin Health, S&P noted:
• Strategic growth in new geographic and service areas
• Enhanced payer contracts
• Cost containment and strong operating performance
• Improving balance sheet and good unrestricted cash-to-debt ratio
• Successful physician recruitment
• Growing volumes
George Kerwin, Bellin Health president and CEO, noted Bellin’s ability to grow and operate efficiently, while maintaining its level of excellence in patient care.
“As a community-based health system, we are mindful of controlling expenses while continuing to provide high quality care to a growing population,” he said. “Throughout our organization, we strive to operate efficiently while producing superior results, and helping consumers manage their health care costs.”