DETROIT – Citing continued growth and its unique position within the market, Standard & Poor’s Global Ratings delivered positive financial news to Henry Ford Health System at the end of 2017. Standard & Poor’s reaffirmed Henry Ford’s ‘A’ long term bond rating with stable outlook.
“These ratings continue to demonstrate the momentum we’ve experienced over the last few years,” said Wright L. Lassiter, III, Henry Ford Health System president and CEO. “Serving a greater number of people throughout Michigan is a top priority for us and we’ve taken substantial steps to achieve that, including the formation of strong partnerships and improvements in operating efficiency.”
Among the reasons Standard & Poor’s cites continue to be the system’s unique, fully integrated provider and health plan model, its solid business position within the competitive southeast Michigan market, and its expanding footprint with the additions of Henry Ford Allegiance Health in Jackson, MI and HealthPlus in Flint, MI.
Mentioning Henry Ford’s historic bond transaction that allowed the health system to restructure a majority of its existing debt, Standard & Poor’s described Henry Ford’s debt profile as conservative, also mentioning other key initiatives that have contributed to its financial success and stability.
“We were very pleased with the success of that bond transaction,” said Lassiter. “Additionally, we are continuing to build upon our executive leadership team, as well as taking a concentrated, meaningful approach to operational improvements and enhanced integration. All of this helps us to better serve our communities.”
Brenda D. Craig
Director, Media Relations Henry Ford Health System
About Henry Ford Health System:
Henry Ford Health System is a six-hospital system headquartered in Detroit, Michigan. It is one of the nation’s leading comprehensive, integrated health systems, recognized for clinical excellence and innovation. Henry Ford provides both health insurance and health care delivery, including acute, specialty, primary and preventive care services backed by excellence in research and education. Henry Ford Health System is led by President & CEO Wright Lassiter III. Visit HenryFord.com to learn more.