JOHNSON CITY, Tenn., May 27, 2022 (GLOBE NEWSWIRE) — Days after Fitch Ratings issued its “A” rating on Ballad Health’s credit, Standard and Poor’s issued its own report, concluding it affirms Ballad Health’s “A-” credit rating with a stable outlook.
S&P Global Ratings’ report cites both pre-pandemic performance of Ballad Health in its execution of the merger between Mountain States Health Alliance and Wellmont Health System, as well as its assessment of Ballad Health’s performance during, and emerging from, the pandemic.
Ballad Health governance and management performance related to merger and pandemic
“In our opinion, Ballad has an experienced management team that has responded well to the challenges of the pandemic and taken a proactive and purposeful approach to the merger that includes developing a strong strategic vision, setting explicit financial and non-financial goals, aligning executive and functional leadership, integrating cultures, and leveraging integration best practices,” stated the S&P Global Ratings report. “Furthermore, we believe management is making some difficult decisions around the need to consolidate services across the system, and to improve quality and performance, while maintaining access across the region.”
“Before the pandemic, Ballad was coming off a positive operating performance in fiscal 2019, as management was making progress on many fronts, and was active in implementing cost reductions and…
