FITCH RATINGS UPGRADES BELOIT HEALTH SYSTEM TO ‘A’ AND ASSIGNS ‘A’ TO SER 2020 BONDS’ OUTLOOK TO STABLE

BELOIT, WI. (November 11, 2019) Beloit Health System has once again been upgraded for the second time in 18 months as Fitch Ratings credit rating agency has assigned an 'A' rating to Beloit Health System's revenue issued by Wisconsin Health & Educational Facilities Authority. Evaluated annually by Fitch, the health system was also recognized as having a positive fiscal outlook for the future.

The upgrade to 'A' reflects Beloit Health System’s strong and consistent operating performance supported by its leading local market position in a stable service area. Operating performance is supported by key service line growth, a large and growing outpatient footprint, and a highly aligned medical staff.

 “Our financial strength and stability, along with our growth and positive patient outcomes, earned our improved rating in the financial markets. This financial stability ensures that our patients can remain in their community, cared for by friends, family, and neighbors at Beloit Health System.  This positive outcome is a direct result of the hard work and commitment of our employees and medical staff,” commented Tim McKevett, President and CEO.

Beloit Health System opened its current location in 1970. Since then, the hospital has expanded by partnering with Beloit Clinic, partnered with the University of Wisconsin to provide comprehensive cancer care, improved access to holistic care by opening NorthPointe Wellness and enhanced its cardiology services by opening the Hendricks Family Heart Hospital. The Family Care Center is open and undergoing state of the art renovations.

 

About Beloit Health System

Beloit Health System is an independent community health system serving northern Illinois and southern Wisconsin. We offer world-class facilities and services to improve the overall health of the communities we serve with cornerstones for quality, engagement, integrity and patient satisfaction.

 

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If you would like more information about this release, please contact Megan Goggin, Manager of Marketing and Community Relations at Beloit Health System at 608.363.5714 or email mgoggin@beloithealthsystem.org

 

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