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Healthcare Revenue Growth Slows to All-Time Low: Moody's
The not-for-profit healthcare sector's operating revenue growth hit an all-time low last year as a national shift toward outpatient and preventative care led to a decline in in-patient visits, according to a report from Moody's Investors Service.
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The holiday shortened week's volume will drop to just over half of last week's issuance, led by a $350 million Texas school offering. more »
The Michigan Finance Authority said it received orders from 30 firms on its $108 million state aid revenue note sale on behalf of Detroit Public Schools that saw a sharp drop from last year in interest rate penalties imposed on the struggling district. more »
August's volume this year came in higher than it did for the same month during 2013, but analysts are divided over whether this means issuance will pick up for the rest of the year. more »
KeyBanc Capital Markets has hired Zachary Kau to work as a managing director in the San Francisco office heading its healthcare finance business in the Public Finance Group. more »
Unrated Irvine, Calif., dirt bonds were oversubscribed by five to eight times when they priced in early August amid overall yield compression. more »
Detroit’s $1.8 billion water and sewer revenue bond sale this week drew about $7.6 billion of orders, officials said, allowing the city to lower interest rates and carve out some additional savings. more »
The Kroll Bond Ratings Agency assigned its AA rating to Los Angeles' general obligation bonds Tuesday, its first rating of the city. more »
Miami-Dade County commissioners will consider placing a $540 million bond issue on the November ballot to build a new courthouse. more »
As the end of summer approaches and supply continues to dwindle, weekly volume in the municipal market is expected to sink to $2.53 billion, the lowest level in almost six months. A $480 million offering from the Virginia Public Building Authority is the largest deal on the new-issue calendar this week. more »
Fitch Ratings shifted its outlook on O'Hare International Airport to stable from negative citing steady air traffic trends and more certainty over American Airlines' future at the airport after the airline's exit from bankruptcy. more »
Detroit has asked the federal judge in charge of its Chapter 9 to consider forcing bond insurer Syncora Guarantee to issue an apology for suggesting that federal mediators have tainted the bankruptcy process. more »
Detroit Public Schools will move forward with a plan to issue $111 million of state aid notes as well as an updated deficit elimination plan that calls for 10% pay cuts and the closure of up to 24 schools. more »
Georgia privately placed $26 million in bonds to finance the tolling system for a start-up express lane project south of Atlanta. more »

Issuance of municipal MSA tobacco bonds by states was the subject of a highly critical article published by ProPublica. The article attempts to make a case that states erred in deciding to issue tobacco bonds. The article was widely circulated across social media. As we frequently observe, the national media focus on the muni market is appreciated, but the facts got muddied in the pursuit of a good story.

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