Ratings

The rating agency expects that an uptick in revenues will outpace expenses as the not-for-profit hospital industry gets a handle on labor costs.

The upgrade brings Illinois up to the A-minus level across the board. The state had three BBB-minus or equivalent ratings as recently as July 2021.

California received a negative outlook from the rating agency in May amid revenue uncertainty. The Public Works Board lease revenue bonds are rated Aa3.

Analysts discussed proposed changes to its metrics that will be finalized in January. An estimated 35% of ratings could experience upgrades or downgrades.

S&P Global Ratings placed Maryland Heights, Missouri, on credit watch with negative implications because of bonds from a related authority for a hockey rink.

Bonds tied to Destiny USA in Syracuse were cut deeper into junk by Moody's Investors Service on doubts about its ability to extend an outstanding loan.

Fitch Ratings affirmed the city's AA-plus GO rating while bumping the outlook on certificates of participation sold for its city courthouse.

The rating agency removed the negative outlook it had assigned after the community college district's accreditation was threatened.

Moody's also affirmed the A3 rating on the MTA's $20.6 billion of transportation revenue bonds.

The rating is the first so far released for a controversial debt sale that will begin financing a $5 billion, 15-year toll road expansion project.