Ratings

Connecticut's GO deal is expected to benefit from its improving fiscal reputation, embodied in two rating outlook revisions to positive ahead of the pricing.

The first chip in the state's triple-A crown comes ahead of plans to competitively auction $1.2 billion of general obligation bonds next week.

S&P Global Ratings revised the outlook on bonds issued for the University of Chicago Medical Center to negative from stable.

Mayor Brandon Johnson and Chicago's finance team talked up the Windy City's economy and talked up bond sale plans at an event for municipal bond investors.

Fitch raised its rating on about $260 million of municipal bonds, backed by payments-in-lieu-of-taxes, from C — the lowest category before default — to CC.

Fitch Ratings cited new rating criteria and increases in state funding in giving Milwaukee a three-notch bond rating boost. The outlook is stable.

The rating agency revised the outlook on the state's AA general obligation rating to positive from stable and said there is a one-in-three chance of a future rating upgrade.

Alaska's efforts to manage its cyclical revenues brought an upgrade from S&P Global Ratings and positive outlook from Moody's Ratings.

S&P Global Ratings joined Moody's in assigning a negative outlook to its triple-A rating, but a criteria change pushed Fitch's rating of the city up to AAA.

Moody's Ratings on Monday revised Illinois' outlook to positive from stable and affirmed the state's A3 issuer rating and the A3 rating on its GO debt.

"The rating action reflects our view of MIA's substantial demand, which surpasses pre-pandemic activity, and its leadership in enplanement growth for large hub airports since the fiscal 2019 peak," said S&P's Nora Wittstruck.

Fitch Ratings said the negative outlook on the BB-plus rating reflects Miami Jewish's thin operating profile.

"The upgrade is supported by strengthened debt service coverage ratios due to better than expected recovery from the pandemic," Fitch said.

S&P affirmed the state's AA issuer credit rating, citing healthy reserves and plans to increase permanent fund totals to mitigate revenue fluctuations.

The replacement Hollywood Burbank Airport terminal won't have more gates, but will be less cramped and resolve its noncompliance with FAA safety regulations.

Duluth-based St. Luke's affiliation with Aspirus Inc. has lifted the prospects for its speculative-grade bonds; S&P placed the hospital on CreditWatch positive.

S&P's upgrade to BBB from BB-plus follows a March upgrade from Moody's Ratings, bringing the city to investment grade a decade after its historic bankruptcy.

Fitch Ratings analysts, who downgraded the bonds to junk in January, said they continue to monitor progress on the airport's automated guided rail system.

"The upgrades incorporate our view of New Hampshire's improved economic and demographic growth trends that continue to perform near or above those of the U.S. and regional peers," said analyst Thomas Zemetis.

"The upgrades reflect our view of Louisiana's demonstrated commitment to improving and maintaining reserves above levels that we consider very strong," said S&P.