Capital markets

Decisions by three organizations to drop Moody's ratings underscore an industry-wide trend as the sector struggles with rising costs and narrowing margins.

CommonSpirit Health priced more than $1 billion of debt on schedule Tuesday after disclosing a ransomware attack that has impacted some IT operations.

The two hires boost Bancroft's muni staff to 11 in offices in Dallas, Fort Washington, Pennsylvania, and San Mateo, California.

Moody's says Hawaii's tourism-based economy is disproportionately vulnerable to high inflation. It affirmed the state at Aa2 ahead of a $800 million GO deal.

Ohio's growing economic diversity helped draw a positive outlook from Moody's, a month after a Fitch Ratings upgrade.

The rating outlook boost to positive from stable follows recent progress on steadying reserve rates and paying down debt, S&P said.

Steve Genyk, head of middle markets, will assume leadership of the public finance team on an interim basis, the firm said.

The Sherwood school district in northwest Oregon had its issuer rating downgraded to A3 from A1 by Moody's Investors Service.

Ratings for Kansas have not changed since it was downgraded three times during the prior decade due to structural budget problems in the wake of tax cuts.

Friday's action brings the state's outlook to positive with all four major credit rating agencies.

Moody's affirmed its Baa3 rating and concluded a two-month-old review of the troubled city, which is under state fiscal oversight.

With interest rates expected to keep rising, the deal will tap all of the remaining authorization from the $3.5 billion Rebuilding Michigan bond program.

The Puerto Rico Oversight Board is seeking the return of fees connected with Puerto Rico bonds and swaps.

Improved commitments to pension funding, coupled with other changes to the two states' retirement systems, have yielded bond rating upgrades for both.

The healthcare chain won breathing room as its letter of credit provider waived a rating covenant and removed an event of default provision for junk downgrades.

"The labor noise is probably a little louder and is probably going to be with us for longer than we expected in late 2021 and is probably going to result in lower margins for a bit of time," S&P's Suzie Desai said.

Fiona Ma delivered speeches Monday at The Bond Buyer California Public Finance conference and California Debt and Investment Advisory Commission pre-conference.

Monday's opening panel of The Bond Buyer California Public Finance conference in Los Angeles was an insiders' look at muni market challenges and opportunity.

Fitch raised Wayne County's rating to A from BBB-plus, putting its fiscal distress further in the rearview mirror following a round of upgrades this year.

The upgrade "reflects material strengthening of the state's financial resilience and budget management, particularly over the past two biennia," the rating agency said.