Moody’s health service firms have $42.2 billion due by ’14
Moody’s Investors Service, New York, said investor-owned healthcare services companies face $42.2 billion in bank credit facilities and bonds that come due by the end of 2014. Moody’s believes that they will be able to refinance thanks to their modest company-specific risk and the return of investor appetite for highyield corporate bonds. All but $200 million of the debt coming due is rated as speculative grade, or below investment grade. Moody’s also noted that healthcare speculative-grade issuers as a whole paid down $5.6 billion of their 2010-14 maturities with new debt within the past six months. Facilities-based services account for two-thirds of the amount owed by these issuers. Hospital companies make up three of the top five for the amount of speculative-grade debt due by the end of 2014. Nashville-based HCA is tops with $13.8 billion.