Healthcare industry

SAN FRANCISCO - A California health care district is swaying once again on the edge of bankruptcy after emerging from Chapter 9 protection only three years ago.

Standard & Poor’s lowered its rating one notch on $35 million of outstanding bonds issued for Casa Colina Inc. and Affiliates to BBB from BBB-plus.

The Children’s Hospital of Orange County received A ratings from Fitch Ratings and Standard & Poor’s on $105 million of fixed-rate bonds expected to sell on Oct. 24.

San Francisco-based Catholic Healthcare West, which operates 40 hospitals throughout California, Nevada and Arizona, is planning a $645 million new-money and refunding deal next week.

Moody’s Investors Service affirmed Hazelden Foundation’s A3 rating ahead of its upcoming $20 million sale of fixed-rate debt to finance various projects that will raise the prominent Minnesota-based treatment center’s debt load by 70%.

Moody’s Investors Service last week withdrew its Ba3 rating on Methodist Hospital after it failed to provide sufficient financial information.

Standard & Poor’s has revised its outlook on Rush University Medical Center Obligated Group’s underlying A-minus rating to positive in recognition of its operating performance and a reduction in construction risks as it nears completion on a new patient tower.

CHICAGO - A weak real estate market continues to plague the long-troubled senior living sector, though providers have enjoyed some stabilization in the last year, Standard & Poor's said in a new report.

An 18-story hotel in New Orleans that never reopened after Hurricane Katrina in 2005 will be imploded next month to make way for Louisiana State University’s new academic hospital.

CHICAGO - The Illinois Finance Authority board Tuesday advanced borrowing plans for several retirement communities and authorized up to $480 million in bonds for the University of Chicago to refund debt and fund projects, including a new research center for its molecular engineering program and astronomy and astrophysics work.

Standard & Poor’s has downgraded the Cascade Medical Center in Chelan County to BBB-minus from BBB.

The California Health Facilities Financing Authority granted the Downey Regional Medical-Center Hospital permission at its Sept. 29 board meeting to proceed with negotiations to sell its outstanding bonds to a private purchaser to enable it to exit bankruptcy in mid-November.

LOS ANGELES - Chapman University, a private university in Orange County, Calif., best known for its film, business, and law schools, wants to increase its health science offerings.

The board of the Cook County Health and Hospital System, the third-largest hospital system in the country, last week adopted a budget of $828 million.

The Philadelphia Hospitals and Higher Education Facilities Authority will negotiate a $270 million sale of tax-exempt, fixed-rate bonds Thursday to benefit the Children's Hospital of Philadelphia project.

DALLAS - The Tomball Hospital Authority near Houston has called or defeased its $111.4 million of tax-exempt bond debt after the sale of the Tomball Regional Medical Center to for-profit Community Health Systems.

CHICAGO - The University of Minnesota Regents on Wednesday will sell about $82 million of debt, in a mix of taxable general obligation bonds and tax-exempt special purpose revenue bonds backed by a state appropriation, to provide financing for facilities in its Biomedical Discovery District.

Standard & Poor’s revised its outlook to stable from negative and affirmed its BB-minus rating on the Rhode Island Health and Educational Building Corp.’s remaining $12.7 million series 1998 revenue bonds, issued for Roger Williams Medical Center.

Standard & Poor’s raised its underlying rating on various bonds issued by the New Jersey Health Care Facilities Financing Authority for Saint Barnabas Corp. to BBB from BBB-minus.

Health care investment banking shop Cain Brothers has hired a senior banker to help lead its distressed credit team.