Moody’s Affirms Bond Rating for Bellin Health

Outlook is stable; service area, profitability cited in report

Moody’s Investor Services has affirmed Bellin Health’s A2 bond rating and issued a rating outlook of stable, citing the health system’s broad service area and a trend of strong profitability, among other factors.

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:
• A broad and favorable service area that spans Northeast Wisconsin and the Upper Peninsula of Michigan
• A trend of strong profitability, with FY 2017 interim results showing improvement over the year prior
• Healthy growth of unrestricted cash and investments
• A conservative and modest direct debt profile, providing for ample debt coverage.

George Kerwin, Bellin Health president and CEO, said the tone of the report is positive.

“We strive to be good stewards of our resources while maintaining the highest quality care and providing the best possible experience for our patients,” Kerwin said. “This focus allows us to continually improve the services we offer while helping patients manage their healthcare costs.”