According to Moody's, the "280 ratings affirmations in 2009 were on $114.5 billion in debt, representing nearly 79% of total rating actions and were on par with 2008 rating affirmations. Eighty, or 29%, of the affirmations were accompanied by outlook changes, 47 in a negative direction, and 33 in a positive direction."
"For the first time in six years, the absolute amount of downgraded debt, $14.8 billion, was greater than the absolute amount of upgraded debt [$8.2 billion] by a ratio of 1.8 to 1," said Patel. "The total downgraded debt measured the highest since 2000, while total upgraded debt measured the lowest in the six years since 2003."
Heading into 2009, six ratings in the not-for-profit healthcare sector were on Moody's Watchlist for possible downgrade and one for possible upgrade, according to Moody's.