NEW YORK - Moody's Investors Service said it has upgraded the debt rating assigned to Chesapeake Regional Medical Center's (formerly Chesapeake General Hospital) bonds to A2 from A3.
The upgrade is attributable to multiple years of strong operating performance that have allowed the organization to grow the balance sheet to very strong levels.
The outlook remains stable at the higher rating level.
Issuance continues to drive performance in the muni market. Despite Friday's run-up in USTs, muni yields adjusted "less dramatically," said Ajay Thomas, head of public finance at FHN Financial.
"I would say we were pleasantly surprised that there aren't mandates that are laced in this proposal," GFOA's Emily Brock said.
Illinois Comptroller Susana Mendoza announced her candidacy for mayor of Chicago last week, pledging "to respect the taxpayer dollar and stretch its value."
The developer faces no penalties from the missed interest payment.
The House Appropriations Committee approved the fiscal year 2027 Transportation, Housing and Urban Development and Related Agencies last week by a vote of 34 to 27.
The $1.2 billion deal, issued by the California Community Choice Financing Authority and underwritten by Goldman Sachs, saw Alphabet as its funding recipient.
