Downgrades

Pittsburgh-based Robert Morris University was downgraded by Moody's Ratings. The private university is part of a growing list of smaller higher education institutions, particularly in the Northeast, that are facing increasing financial pressures as the pool of potential students shrinks.  

Escalating operating losses led to bond rating downgrades for Wise Health System ahead of its potential acquisition this quarter.

The nonprofit regional healthcare system reported six straight years of operational losses in its most recent financial report.

While it's still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.

Tioga Independent School District, located north of Dallas, has a state-appointed monitor to develop and implement "a corrective action plan."

Mild economic conditions resulted in slight changes to upgrades and downgrades in the third quarter, compared to the second quarter, S&P said.

The downgrade of Kaweah Delta Health Care District's revenue bonds to Ba1 affected $218 million of debt.

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.

S&P has Muncie and Plainfield on its watch list with negative implications.

The city, which Moody's downgraded last week, is appealing a Nassau County judge's ruling that has it on the hook for $131 million over a dispute with a developer.

The shift means that lease-revenue bonds supporting federal leases will no longer be notched off the federal government’s rating.

The mammoth California hospital chain reached a preliminary $575 million settlement agreement in March in an antitrust lawsuit.

S&P Global downgrades Tri-State Generation and Transmission Association to BBB-plus amid plans to reduce coal consumption and lower costs for members.

Kansas City will follow up a GO sale from last month with $186 million of tax-exempt, taxable new money and refunding special obligation bonds Wednesday.

Fitch Ratings downgraded Anaheim's bonds on Friday, as the governor announced amusement parks and stadiums could open April 1.

Disneyland amusement park in Anaheim has been closed since March as California struggled to reduce its COVID-19 numbers.

San Francisco Unified School District's rating was lowered a notch to Aa3 by Moody's Investors Service.

Predictably, the rating agency cited COVID-19 effects in its downgrade to AA-minus from AA.

Moody's downgraded Wisconsin's largest city by one notch due to budgetary pressures.

The rating agency cited coronavirus-related curbs on economic activity in the commonwealth.