Economy

Gov. Phil Murphy is behind the push for the Garden State to develop offshore wind power, ramping up from 3,500 megawatts by 2030 to 11,000 megawatts by 2040.

Hospital margins ticked up in November, but 2022's bruising will linger well into this year straining some ratings.

The action affects about $312 million of debt. The outlook, previously positive, is stable at the new, higher rating.

The administration gave priority to large bridge projects that are ready to proceed with construction.

"I think the bond market is right, a recession is coming," said Liz Young, head of investment strategy at SoFi, "and the economic indicators reinforce that message."

Inflation is a chief risk to public officials eager to launch new projects, but it's a boon for infrastructure investors, who view the asset class as a natural hedge.

Arkansas, Louisiana, and Oklahoma will submit an application to the U.S. Department of Energy for their HALO Hub, which involves public-private partnerships.

Daniella Levine Cava, Mayor of Miami-Dade County, Florida, talks with Chip Barnett about the county's robust economy as it recovers from the COVID-19 pandemic. She talks about how the seaport and airport are booming and looks at some challenges ahead such as environmental and housing issues. Taped live in Miami on Dec. 7. (10 minutes)

Oil and natural gas-related taxes and payments are driving projected increases in the state's general fund and stirring concerns about a future revenue drop.

Attacks pose acute financial threats and longer term reputational and legal risks, analysts said.

"I'm thrilled to have that opportunity to join the team," Patrick McCoy says. "It's a very important project with regional implications. To be part of that team is going to be very exciting."

Moody's dropped Sparrow Health's rating a notch as it's not yet factoring in the financial and operational benefits of its acquisition by UM Health, which won't extent to a debt guarantee.

Balance sheet damage from labor costs, the pandemic and a cybersecurity breach triggered covenant violations for Capital Region Medical Center.

The regulation would establish a universal standard requiring dealers in any transaction with a customer to use reasonable diligence to get the customer the best price.

The change would give broker dealers, municipal securities dealers and municipal advisors until Jan. 31 to annually affirm the information on Form A-12, among other changes.

Agency says it's the highest general obligation bond rating it has received in 47 years.

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

University of Michigan Health will acquire Sparrow Health System in a move that provides a fiscal infusion for Sparrow's operational and capital ailments.

The Municipal Securities Rulemaking Board has announced its fifteen-member Compliance Advisory Group for the 2023 fiscal year, which includes eleven women and four men.

Arrick was formerly a managing director and healthcare group leader for S&P Global Ratings.