Moody's Investors Service said it downgraded a record $20 billion in not-for-profit healthcare debt in 2012, an increase of 213% from the $6.4 billion downgraded in 2011, and the highest amount of downgraded debt in one year in the sector since the rating agency began tracking the metric in 1995.
Moody's: 2012 Not-for-Profit Healthcare Sets Record in Downgraded Debt
FEB 12, 2013 10:42am ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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