S&P Affirms A+ Bond Rating for Bellin Health

Outlook is stable; strength through pandemic, innovative management cited in report

S&P Global Ratings has affirmed Bellin Health’s A+ bond rating and issued a rating outlook of stable, citing a financial profile that has improved despite the pandemic, among other factors.

The rating reflects continued strength for Bellin’s bonds. In 2015, S&P raised its rating for Bellin to A+ from A, grading the organization’s long-term future as stable. It was the third consecutive upgrade since the health system’s initial BBB+ rating in June 2004. Bellin has maintained the A+ rating ever since.
In its ratings report, S&P noted Bellin’s:
• Financial profile, which has improved over the last 18 months even as the health system operated through the pandemic
• Bellin’s “coexist with COVID” strategy, which allowed the health system to maintain its normal workflow even as it operated through last fall’s COVID patient surges
• Innovative management team and population health infrastructure, which have enabled growth in a competitive market
• Healthy cash flow and a positive operating margin

“This rating reflects the tireless efforts of the Bellin Health team to persevere throughout this pandemic, continuing to provide the very best in quality, affordability and the patient experience while maintaining financial sustainability,” said Bellin Health President & CEO Chris Woleske. “Serving as good stewards of our resources is a critical element of our commitment to population health, which is our steadfast commitment to equitably optimizing health and wellbeing for all.”