CHICAGO — Investors gobbled up $54 million of low-investment grade health care paper sold Wednesday by a hospital in Wood County, Ohio, oversubscribing the deal by more than four times, according to the underwriters.

It was Wood County Hospital’s first borrowing since 2008 and its first-ever rated deal. Moody’s Investors Service gave it an initial rating of Baa2 with a stable outlook. The borrowing includes all of the hospital’s debt.

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.