Healthcare industry

The Affordable Care Act is helping lift the non-profit health care sector out of its years-long torpor, according to Standard & Poor’s, which revised its outlook on the sector to stable from negative.

The Illinois Finance Authority board advanced nearly $400 million of new borrowing plans at its meeting Thursday in deals that highlight the popularity of direct placements.

Fitch Ratings downgraded to junk $683 million of Loma Linda University Medical Center, Calif. revenue bonds saying the hospital plans to issue more debt next year to tackle earthquake safety projects than it had anticipated.

Moody’s Investors Service downgraded the rating of Lancaster, Calif.-based Antelope Valley Hospital District further into junk territory citing the sudden resignation of the hospital’s chief executive officer this summer.

The Oregon Facilities Authority is preparing to sell a cross-border deal when it issues $71.1 million of bonds for Providence Health & Services in Washington.

OSF Healthcare System in Illinois heads into the market next week with its $368 million sale with a second dose of good credit news.

A struggling hospital in an affluent Detroit suburb has merged with Ascension Health, the largest non-profit health care system in the country.

Illinois-based OSF Healthcare System won an upgrade ahead of its September new money and refunding sale for $367 million in recognition of its improved financial performance.

West Jefferson Medical Center, La.'s bond ratings were cut three notches to Ba2 due to a "precipitous" downturn in operating performance, Moody's Investors Service said.

Pittsburgh-based PNC Capital Markets LLC hired public finance banker Kerry Rudy in Chicago to lead its national healthcare sector and is bolstering its New York team with the addition of Lawrence Stephens to lead coverage of the city.