In the third quarter of CY07, downgrades outpaced upgrades by a ratio of 1.2 to 1, with seven downgrades and six upgrades among healthcare organizations rated by Moody’s Investors Service, according to the October 2007 Moody's Not-for-Profit Healthcare 2007 Quarterly Ratings Monitor. This is an improvement over the third quarter of 2006 and compared with historical trends. At Moody's, cumulative downgrades continue to outpace upgrades 1.3 to 1 through nine months of CY07, as compared to 1.5 to 1 through nine months of CY 2006. The dollar amount of the third quarter upgrades exceeds the dollar amount of downgrades, largely reflecting the credit strengthening of two sizable health systems whose debt accounted for 62% of the upgraded debt in the third quarter. For more information, contact Moody's at (212) 553-1653.
