Economy

American Advanced Management signed a letter of intent for a lease-to-buy agreement for Hazel Hawkins Memorial Hospital in Hollister.

The Tennessee Valley Authority has $19 billion of outstanding bonds and provides power to 10 million people.

Major bondholder Preston Hollow and the trustee for $86 million of debt sold for Mercy Iowa City in 2011 and 2018 pointed to default events.

Extreme temperatures affecting much of the United States add an additional challenge to hospitals still reeling from the pandemic.

Over the next few months, the state will be crafting regulations for a carbon emissions bill it hopes will provide an additional revenue source to help smooth some of the state's economic volatility.

Almost all of the $1.55 billion surplus will go into the state's rainy-day fund, raising its balance to a record $3.7 billion, a 2,700% jump since 2019.

The state, burdened with volatile revenue streams because of its dependence on natural resources, has lower ratings from Fitch, Moody's and S&P .

Energy-producing states are riding out oil and natural gas price swings that affect severance tax collections.

The bill will move onto the Senate in hopes of reaching President Biden's desk before the current Federal Aviation Administration authorization expires on Sept. 30.

The one-notch upgrade to AA reflects growth in Kansas Department of Transportation available fund balances and the state's improved credit quality, Fitch said.

"With this year's budget, we're creating a more future-ready Miami-Dade, building for today and investing in tomorrow," Mayor Daniella Levine Cava said.

Nonprofit assisted living and nursing home bonds continue to be under stress, with defaults and impairments on the rise.

Transactions announced for the second quarter rose to 20 involving $13.3 billion of revenues from 15 in the first quarter and hit a milestone in more closely resembling pre-COVID-19 mergers and acquisition activity, according to Kaufman Hall's quarterly review.

Facing revenue shortfalls, funding for Gov. Gavin Newsom's zero-emission efforts had been put on a waiting list.

Much uncertainty remains as the second half of the year begins, with Federal Reserve rates, recession and inflation all still to be decided.

S&P expects improvement although for some borrowers that simply means a reduction in losses, or breakeven to just slightly positive margins.

John Di Stasio, president of the Large Public Power Council, said while the industry faces some pressures, public power systems are stable with growing revenues and healthy cash coverages.

California Gov. Gavin Newsom and lawmakers struck a budget agreement just days before the start of the fiscal year.

Virginia Wong, a partner in Nixon Peabody's public finance group, talks with Chip Barnett about effective mentorship and building successful teams. (15 minutes)

The FAA's reauthorization is facing trubulence before its expiration in September, but the enormous amount of cash airports have received from recent legislation situates them well regardless.