{"id":469313,"date":"2021-03-31T21:48:04","date_gmt":"2021-04-01T01:48:04","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469313"},"modified":"2021-03-31T21:48:04","modified_gmt":"2021-04-01T01:48:04","slug":"moodys-upgrades-ballad-health-credit-rating","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/moodys-upgrades-ballad-health-credit-rating\/","title":{"rendered":"Moody\u2019s Upgrades Ballad Health Credit Rating"},"content":{"rendered":"<h2>\nDespite its ongoing negative outlook for the hospital industry, Moody\u2019s cites Ballad Health\u2019s \u201cfavorable\u201d governance, \u201ctenured management team\u201d and \u201cdemonstrated ability to operate effectively to demonstrate the value created by the merger\u201d in upgrade to A3 rating<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>JOHNSON CITY, Tenn., March  31, 2021  (GLOBE NEWSWIRE) &#8212; Moody\u2019s Investor Services announced today it has upgraded the credit rating for Ballad Health to A3 from Baa1, the highest rating experienced by Ballad Health or its predecessor organizations by Moody\u2019s.\u00a0This upgrade follows\u00a0a recent report by Fitch Credit Ratings affirming Ballad Health\u2019s \u201cA\u201d rating.<\/p>\n<p>\u201cBallad Health\u2019s governance considerations continue to be favorable with a tenured management team,\u201d Moody\u2019s\u00a0stated.\u201cThe Board is reflective of the community and has diverse competencies.\u201d<\/p>\n<p>Moody\u2019s cited strong governance as a consideration under its Environmental, Social and Governance framework for consideration in credit ratings.<\/p>\n<p>Moody\u2019s added: \u201cManagement has demonstrated the ability to operate effectively within the limits of regulation\u2026\u00a0and continues to demonstrate the value created by the merger for the service area\u2026\u201d<\/p>\n<p>Citing ongoing challenges for not-for-profit hospitals,\u00a0which face uncertainty with patient volumes and revenue due to the\u00a0novel coronavirus (COVID-19) pandemic,\u00a0Moody\u2019s pointed to continued population decline as a risk\u00a0in the Ballad Health service area, in addition to the increased shift of payer mix from commercial to Medicare, Medicaid and other governmentalpayers.\u00a0Ballad Health\u2019s inpatient payer mix is one of the most challenging in the nation, with less than 20%\u00a0of inpatients having commercial health insurance.<\/p>\n<p>Moody\u2019s\u00a0did\u00a0attribute part of Ballad Health\u2019s volume decline to a \u201cdecrease in readmission rates as quality metrics improve and care shifts to outpatient and lower cost settings.\u201d\u00a0Ballad Health has publicly\u00a0reported\u00a0its efforts to reduce lower-acuity admissions\u00a0and\u00a0readmissions and divert patients to lower-cost sites for care as part of its quality improvement initiatives, in addition to improving 13 out of 17 agreed-upon quality measures since\u00a0its inception in 2018.\u00a0Most recently, Ballad Health was performing in the top decile of American hospitals on\u00a0five\u00a0quality measures, making it among the best-performing in the nation.<\/p>\n<p>\u201cBallad Health has remained focused on\u00a0delivering high-quality care, reducing the cost of healthcare and being good stewards of our resources,\u201d said Ballad Health Chairman and Chief Executive Officer Alan Levine.\u00a0\u201cWe are pleased Moody\u2019s cited our improved quality and lower cost of care, because it demonstrates\u00a0that\u00a0our strategy of reducing unnecessary duplication, investing in needed services and using our scale and resources to expand access can work.\u00a0Already,\u00a0we know that we have reduced the cost of healthcare by more than $200 million annually, which benefits our employers, patients and taxpayers.<\/p>\n<p>\u201cWhile the majority of credit ratings changes for health systems in the United States have been negative and downgrades during the last year, we are proud that against the backdrop of a negative outlook for the industry, Ballad Health has emerged with the highest credit rating it or its predecessor organizations have ever had.\u00a0To accomplish this even in the middle of a global pandemic is certainly unusual and rare, but it underscores the effectiveness of our focus on execution of our plan,\u201d Levine continued.\u00a0<\/p>\n<p>\u201cIt is our understanding that in the year since March\u00a01, 2020, Moody\u2019s has upgraded only\u00a0five\u00a0health systems, while downgrading more than\u00a0five\u00a0times that many.\u00a0So this action is truly remarkable for Ballad Health and for our communities.\u201d<\/p>\n<p>\u201cThis upgrade to an A3 is historic for Ballad\u00a0Health\u00a0and its predecessor organizations, as none had ever had an \u201cA\u201d rating from Moody\u2019s,\u201d said Ballad Health\u2019s lead independent member of the Board of Directors, David Lester.\u00a0\u201cAs we celebrate this\u00a0milestone, our Board\u00a0also recognizes that Ballad Health has reduced the cost of healthcare, been effective stewards of our financial resources, has dramatically improved access to care and measurably improved quality.\u00a0All these things combined are good news for the people we are entrusted to serve.\u201d<\/p>\n<p>More information about Ballad Health is available at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=o_vDw5zOWJ5i2c7gMYiIKLo5u8OqWAKdYNYENJyn8K3lQx1f4mF_ofkgGiGKfeI5FztB-2NBL7T4IByaU0Bz6djQhtvwlOvC5MlgNzQwLJEVqjmBNNC7IjNXyh-h33tlqSViXGwW52aR7YlpHsfeKSmPlyNBhTlMNlocDy7BEikYn4QXGBUvl3XCuyzoUgSz7qs65E612IUrBuOg6EuNbXtGrdTfBOnbP-ZpKxCbwR_yumRJPBWAntuZTV5UiYVlvJKogGnMzjmkdNW0x2PgU3alZCp21DJpxLQZ8AjeMXZndSFzk1o-dIAQNlX4Fl2hUUhlgctN7e9k57Kz-CRnajGHJ_ey-Y8AlxQWp4HJ5RkHtMNZex4Q63a2IBM-nkDAdjkkBHXgIg3SxMZ_icU3KIt_Xld8Az1lBdNTExMk0EzwaF-4vVgYBfJMGHgTTx2tRHZqNPrWNyGUYSA2pVvn4MnwjTFF0_OAJ1vmIl5UAh_-xJ-2vO-dphOU8lqQNuyQjPqYAhKr579ocaF5kQysMt_AkMJCDcvT9f5RNKM1HIWJgZ3Q3Rv4kMcyZcCHGmzmrjyBEJijIjTWVHHGiCNEd2u9So3ESiWEW3kaQluzmEOx-My7l3mmgynS0PjTuJI2ivtIv7pkBkOT2LEdhC4VsOmgvRaRtwC2fmpqwV7qp2QMFrPGg3O6cBQrtUI1vH2JqGV_vQtM4-WQSFVIH57YKMCgb_oceagM9yQ9R7N5SKABtPP-Zt-TQUHzx1FjMMJBaSJ-glrWt5qjY8wk4eyj1aP0OE2HvZD1zjzXIIeZS2B66Nz0Kj7K3OPvqsoo_FwQ\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.balladhealth.org<\/a>.\u00a0<\/p>\n<p>\u00a0<\/p>\n<p align=\"center\">###<\/p>\n<p>\u00a0<\/p>\n<p>\n        <strong>About Ballad Health<\/strong>\n      <\/p>\n<p>Ballad Health is an integrated healthcare system serving 29 counties of Northeast Tennessee, Southwest Virginia, Northwest North Carolina and Southeast Kentucky. Our system was created to improve the health of the people we serve. Ballad Health operates a family of 21 hospitals, including three tertiary medical centers, a dedicated children\u2019s hospital, community hospitals, three critical access hospitals, a behavioral health hospital, an addiction treatment facility, long-term care facilities, home care and hospice services, retail pharmacies, outpatient services and a comprehensive medical management corporation. At Ballad Health, we\u2019re completely invested in our communities because we\u2019re your neighbors, and this is our community too. We\u2019re here to listen to you and address your unique needs \u2013 and we\u2019ll always be accountable. Learn more at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=PCQAPvadqwE_fLHiJuKsLuTD9QkMHVf0pz60MfVEr8gEC0IOMXtd_KSruj6761LwjW9s_YCWBJFZu-Zakpeiuyt-qQbtoIFLd_xpCgK0h8W9_VBor5wWC7WFyDjAkHRcJHTVvPGLCfvkZN_snMU8hUPQSHTP2ZuwGBqumbBQA4Ja6C3-uK3gDRQaWF47AMmjE6U34ag9zgU3-vwxB0SNEfuHm4qGYlJgHIhMUzt9A3FsQiWSi5swWC-e-OxpENMZYehk_qZ0VTllw0GmFC8nTvZL4qQtM63ojCGKCeGCrZI2RHWUpyDVw1xKVv7uJZihxGw7n-7OTW005B0BCE9EJtrc0UWGIzFN3KZi3Q4upAWnadsZq8w1QgyH2r9bnh_07avh_EWOURFUHuvG2n9zXSq5QdiznR4Te86evECDpsd1zG7beKKM8B9F1fWTQMmjNgXDelrJdpSO060LbzEDiFrgDfsg2ZbJoW50zruMdvE0UEe5hjVpK8b39JOf6xXxpb-5wC8Kvtwh99NF9oTznLgKqGg-eISASgtz2pq6AGcJPGylEi9IUPvejroGtGbgjRU07dSGZ2d8oROobtfR_D6PZpXSx5qrsz77QIzev113K4hIaLok06tjovrl6N6Cyj-jIHvXMHUi5nIjIe9wlC8ymoLEjSr4U7xapSZkvN3OjbuSHkA9IIJWf8vat2ZhHaDIDVGj9qZ0KaOqEy-2vvLQIivgBtARIBO9_4RKBOI2mDMRFFqdoxMXwhPtGD_O6DHKJwFreMg7jtC7_UFz336SgXiYOe0HATuHLtOoauxw7r7VX61l0BWHmHlrhvACMfOEzThK6YXqoeciYeOP--SmTvgtty4jenfEJlpyMrhBpSXYoCN7BarOWUZn3mZrMPRQow_hp3qwcCkJw1oJ-jFXYx_3qxGHasVdD_7mwUBA4kicHu1YjIU-aJGRdu2Zh40bfA3L5_y6WpGp8u4mIEE7x-trnwaHl6VeJdfwVfWLXsXmUQeMI_qg7LEBU7Nhj5NFXxqGyFZJHxblIIF9-XS33a8EQK4IARyKP6eml4tQEhwEz_-j0TDNn7NRXa_P6dooRAzSNjB6dUI8cuCstC4tRTQQe0mJx3UwpplTOxsr0zw4EFMfyBnNy7miFPJyKP16jbl80-oCKndGVGdyIbjfuXVbjxG3G1_4u2RbXmwSUbQWSVo_u4M2D9m6sePbhhvHIROIOIJ8F_q8__YQENBX4Vov13fad4gqhxzH8769jbCADlDbjMkqx10vtlCthB8lNIT3QDdntmfnl-5O5rISsC2AzL_0Iv18lQuQj2v0nGlKTc9GCG3XxVm87VVYQezLqO8Y20POTHzum5tTLaIRR47TtY2ZlDY13Nyl_QQsX2o5p0kzjgyWQ41ZF-Exzf_TV5KfsVTLlfMZ-oyvQeSmNS7f6vNNALS4XJsC1Lhs17G6vSc5eFphiO_7GMri2eagXq5bTIi0j604lTxTx5IAPBxHauchy6Y3u7wpM0ZAyrgq4wpL-5TZ7XENmw_2Tjl40b4VJkT4MI0aXAV_lT_NdKuB8fncKxo3ubL4Sh7ZTQVCeYSI3Dxk2SPSOJZbCt-Nru2X8FK4fAbZfxzpDilTXGZBEPB-zX2_vg_5WzT8Z6NyDppdlyq2OMGdaEZrih83VsXWORp2bD1axVduw8OrLnvGioDhkULvdjEGXyWb4wtzWgl1X02HVm7I2nOddJ-qORV8yLMBPMQ_TcrAvdlARV7VFN9yWGseEjPyfWdIBHr5Ay0XLo_0y3KIngkdTj-rQhQdBFi7t4LeshGdR0cfwMLksXiHKn6KRqNDymHjftORgqehDD36YbcEuVdQAf08nkesUpcLtxi55s-HbZPtCbJu2_SWCxQfPOSnjww=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.BalladHealth.org<\/a>.<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIwOTk1NyM0MTAxNzI1IzIxMjM1ODE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/f0d942c5-9bfe-4eb3-b157-2619418ebf5d\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Ashlea Ramey\r\nBallad Health\r\n423-427-1356\r\nashlea.ramey@balladhealth.org\r\n<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Despite its ongoing negative outlook for the hospital industry, Moody\u2019s cites Ballad Health\u2019s \u201cfavorable\u201d governance, \u201ctenured management team\u201d and \u201cdemonstrated ability to operate effectively to demonstrate the value created by the merger\u201d in upgrade to A3 rating JOHNSON CITY, Tenn., March 31, 2021 (GLOBE NEWSWIRE) &#8212; Moody\u2019s Investor Services announced today it has upgraded the credit rating for Ballad Health to A3 from Baa1, the highest rating experienced by Ballad Health or its predecessor organizations by Moody\u2019s.\u00a0This upgrade follows\u00a0a recent report by Fitch Credit Ratings affirming Ballad Health\u2019s \u201cA\u201d rating. \u201cBallad Health\u2019s governance considerations continue to be favorable with a tenured management team,\u201d Moody\u2019s\u00a0stated.\u201cThe Board is reflective of the community and has diverse competencies.\u201d Moody\u2019s cited strong governance as a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/moodys-upgrades-ballad-health-credit-rating\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Moody\u2019s Upgrades Ballad Health Credit Rating&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-469313","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Moody\u2019s Upgrades Ballad Health Credit Rating - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/moodys-upgrades-ballad-health-credit-rating\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s Upgrades Ballad Health Credit Rating - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Despite its ongoing negative outlook for the hospital industry, Moody\u2019s cites Ballad Health\u2019s \u201cfavorable\u201d governance, \u201ctenured management team\u201d and \u201cdemonstrated ability to operate effectively to demonstrate the value created by the merger\u201d in upgrade to A3 rating JOHNSON CITY, Tenn., March 31, 2021 (GLOBE NEWSWIRE) &#8212; Moody\u2019s Investor Services announced today it has upgraded the credit rating for Ballad Health to A3 from Baa1, the highest rating experienced by Ballad Health or its predecessor organizations by Moody\u2019s.\u00a0This upgrade follows\u00a0a recent report by Fitch Credit Ratings affirming Ballad Health\u2019s \u201cA\u201d rating. \u201cBallad Health\u2019s governance considerations continue to be favorable with a tenured management team,\u201d Moody\u2019s\u00a0stated.\u201cThe Board is reflective of the community and has diverse competencies.\u201d Moody\u2019s cited strong governance as a &hellip; Continue reading &quot;Moody\u2019s Upgrades Ballad Health Credit Rating&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/moodys-upgrades-ballad-health-credit-rating\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-01T01:48:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIwOTk1NyM0MTAxNzI1IzIxMjM1ODE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/moodys-upgrades-ballad-health-credit-rating\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/moodys-upgrades-ballad-health-credit-rating\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Moody\u2019s Upgrades Ballad Health Credit Rating\",\"datePublished\":\"2021-04-01T01:48:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/moodys-upgrades-ballad-health-credit-rating\\\/\"},\"wordCount\":801,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/moodys-upgrades-ballad-health-credit-rating\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIwOTk1NyM0MTAxNzI1IzIxMjM1ODE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/moodys-upgrades-ballad-health-credit-rating\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/moodys-upgrades-ballad-health-credit-rating\\\/\",\"name\":\"Moody\u2019s Upgrades Ballad Health Credit Rating - 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