Healthcare

Hospital spreads have widened as investors wait to see how the One Big Beautiful Bill will impact providers.

The Montana Facility Finance Authority can directly issue debt for a broader array of organizations following a legislative change.

Charlotte will sell $330 million of bonds and Duke Health will offer $540 million.

S&P noted volume growth and solid operating margins at the large Florida-based healthcare system.

The commission also approved converting a GO bond sale from competitive to negotiated.

Another big deal from a major borrower is moving forward after Rochester's City Council last week approved a conduit bond sale for the Mayo Clinic.

Fitch Ratings cited the San Diego-area health district's ongoing fiscal woes in dropping its rating to B-minus from B and revising its negative watch to a negative outlook.

The Federal government's long-term budget challenges could mean dramatic changes for hospitals and health systems nationwide, derailing the post-COVID credit recovery that helped turn the healthcare sector into the fastest-growing segment of the municipal market in 2024.

The San Diego County-based healthcare district is at risk of "breaching financial covenants which, absent lender cooperation, could lead to acceleration of all of Palomar's outstanding revenue debt," Moody's Ratings analysts wrote.

The Bond Buyer's Deal of the Year awards will mark the 23rd year it has recognized outstanding achievement in municipal finance. The event, to be held Dec. 3 in New York City, will also include the presentation of the Freda Johnson Awards for Trailblazing Women in Public Finance.