Capital markets

Moody's downgraded $651 million of Main Line Health Services revenue bond debt to A1 from Aa3.

Hospital fiscal wounds have mounted this year and the balance sheet damage is expected to extend into 2023 as labor pressures show little sign of easing.

The Missouri-based firms say they will boost client relationships and expand capabilities with the pending merger, which will retain the L.J. Hart & Co. brand.

The downgrades for Alaska's largest city come less than two months after the mayor set returning the city's ratings to AAA as a goal in his fiscal 2023 budget.

Municipal underwriting fixture, Jaime Durando, announced his retirement from the industry after more than 30 years.

Enrollment and inflation-adjusted net tuition trends are negative.

Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.

Investment bank expands with three former Citigroup muni veterans at the helm.

The upgrades follow Fitch's upgrade of Morgan Stanley, the guarantor to the gas supplier in all of the transactions.

Fitch Ratings revised its outlook to stable from negative on BATA's AA-minus subordinate debt, retaining its stable outlook on AA-rated senior debt.

The borrowing arm of the Missouri Department of Transportation will take competitive bids on $489 million of new money debt Tuesday.

Both S&P Global Ratings and Kroll Bond Rating Agency revised their outlooks for Chicago general obligation bonds to positive from stable.

Fitch also affirmed the A rating on $800.3 million of senior lien seaport revenue bonds Miami-Dade County issued on behalf of its seaport department.

Chicago's upcoming general obligation sale will carry a Moody's rating for the first time since at least 2014.

Seven years after dropping Chicago to speculative grade citing pension funding, Moody's returned the city to investment grade, citing pension funding.

The rating agency lifted the outlook of the Los Angeles Unified School District, the nation's second largest, to positive.

Chicago, upgraded Friday by Fitch, will follow City Council's expected passage of a new 2023 budget next month with a new money general obligation bond issue.

The strength of the California economy suggests it deserves higher ratings, CreditSights said, but slowing revenues could mean the state's credit has peaked.

The upgrade reflects the city's improving pension funding practices, commitment to a sound reserve position and ability to institute structural budget measures, Fitch said.

The sale will fund improvements and repairs to public parks, waterfronts, and roads across the double-A-plus rated city.