CHICAGO — The “national explosion of consolidation” across the health care sector differs in key ways from past trends, as providers face new, complex problems and new players have entered the game to craft merger models that include risks and benefits, Moody’s Investors Service said in a report released Thursday.

For bondholders, the outcome is often often positive but can pose risks depending on the structure of the merger, Moody’s said in its report, “New Forces Driving Rise in Not-for-Profit Hospital Consolidation.”

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