That is the highest amount of downgraded debt since Moody’s first tracked that metric roughly 18 years ago. The data were part of Moody’s exhaustive annual report on its non-profit healthcare debt portfolio in 2012.
Here are 13 statistics from the report that may interest non-profit hospital and healthcare leaders. Note: Figures represent only non-profit hospitals and health systems rated within Moody’s portfolio.
Total downgraded debt: $20 billion
Total upgraded debt: $9.7 billion
Number of credit downgrades: 40
Number of multi-notch downgrades: 6
Average debt per downgraded hospital: $500.1 million
Number of downgraded hospitals with total operating revenue below $500 million: 25 (63 percent)
Number of credit upgrades: 38
Average debt per upgraded hospital: $262.9 million
Number of upgraded hospitals with total operating revenue below $500 million: 19 (50 percent)
Total number of credit rating affirmations: 278
Number of positive affirmations: 38
Number of negative affirmations: 21
Percent of rating activity represented by affirmations: 79 percent
More Articles on Hospitals and Credit Ratings:
Moody’s: Record $20B of Non-Profit Healthcare Debt Downgraded in 2012
Scottsdale Healthcare CFO Todd LaPorte: 5 Ways to Approach Your Credit Rating Meetings
S&P: West Penn Deal Weakens Highmark’s Financial Profile
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