The third quarter result was only the second time in two years that upgrades exceeded downgrades, and the decline in downgrades was larger than any quarter over the past 10 years, according to the release. Additionally, the $2.1 billion in upgraded debt outweighed the $4.6 million in downgraded debt.
Jennifer Ewing, an associate analyst for Moody’s, said the causes for the third quarter results were “idiosyncratic” and do not reflect the negative credit trends, such as payor pressures and slowed volumes, that most hospitals are facing.
By the year’s end, they expect the total downgrades will still outpace upgrades, according to the release. Through the first three quarters of 2011, there have been 23 downgrades and 18 upgrades.
Related Articles on Hospital Ratings:
4 Health Systems Receive Credit Downgrades
From Stable to Negative: 6 Reasons Behind Gloomy Non-Profit Hospital Outlooks
Moody’s Raises Outlook for LifePoint Hospitals
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
