The $2.78 billion of downgraded debt of the U.S. not-for-profit healthcare sector in the second quarter exceeded the dollar amount of upgraded debt, $2.11 billion, for a ratio of 1.32 to 1, says Moody's Investors Service in a report, "US Not-For-Profit Healthcare Quarterly Ratings: Downgraded Debt Trumps Upgraded Debt in Second Quarter 2012, Reversing Prior Trends."

The finding contradicts eight of the past 13 quarters in which total upgraded debt exceeded downgraded debt as many of the upgrades were for larger systems that carry more debt than smaller providers.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.