Moody’s Affirms Bond Rating for Bellin Health
Outlook is stable, good results expected
Moody’s Investor Services has affirmed Bellin Health’s A2 bond rating and issued a stable rating outlook, indicating its expectation that the bonds will continue to generate good operating results.
Released earlier this month, the rating reflects continued strength for Bellin’s bonds. In 2001, the organization was assigned a BBB+ rating, and it has been upgraded twice since that time.
In its ratings report on Bellin Health, Moody’s noted:
• The organization’s broad service area
• A track record of profitability, with particularly strong results in fiscal year 2014
• Favorable adjusted debt coverage ratios
• A disciplined approach to meeting ongoing capital needs
George Kerwin, Bellin Health president and CEO, said the tone of the Moody’s report is positive.
“As a community-based healthcare system, we continually strive to be good stewards of our resources while maintaining the highest standards of quality care,” Kerwin said. “This focus allows us to continually improve our services while helping consumers manage their healthcare costs.”
Bellin Health recently completed a bond sale in which $45 million in double tax-exempt bonds were made available for public purchase.