Economy

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.

If a recession comes in third quarter, the forecast's economists said it will be mild and brief for both the nation and California.

After big oil hiked gas prices and made record profits, Gov. Newsom convened a special session of the Legislature and called for a price-gouging penalty on oil companies.

Advocate Aurora Health and Atrium Health finalized their merger Friday.

Texas trails only Florida for first-time payment defaults on bonds issued for senior health and living facilities for seniors since 2009, according to MMA data.

Entering into long-term leases for toll lanes in urban areas would free up transportation dollars for rural areas, said Gov. Bill Lee.

"The MTA's structural gaps remain huge and demand immediate action and a multi-party, multi-year plan" says Citizens Budget Commission President Andrew Rein.

The ruling marks the first major defeat for OTA in lawsuits seeking to derail its plan for a $5 billion, bond-financed extension project.

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 Securities and Exchange Commission's 2020 amendments to rule 15c2-11 on the publication of quotes by broker dealers won't be enforced until 2025.

Powell said smaller interest rate increases are likely ahead — and could start as early as next month.

The authority said it expects production problems and higher costs in the near future.