Healthcare industry

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.

CHICAGO — Michigan-based Trinity Health Corp. will bring the year's largest health care deal to market next week when it sells $648 million of debt, some of which will finance its recent acquisition of Loyola University Health System.

Moody's Investor Service has revised its outlook to positive from stable on Aspirus Wausau Hospital's A2 rating in recognition of strong operating profitability for a third consecutive year.

CHICAGO — After investors agreed to take a haircut in a restructuring last year, an upscale retirement facility in downtown Chicago is again asking bondholders for more breathing room.

The Dormitory Authority of the State of New York has approved $1.5 billion in financing for education and health care.

WASHINGTON - States' unfunded liabilities for health care and other non-pension post-employment benefits totaled $545 billion in fiscal 2010, Standard & Poor's said in a report issued Thursday.

California Gov. Jerry Brown is weighing one bill that secures bondholders if a hospital declares bankruptcy, and has already signed another that proponents said could help corporate investment in municipal bonds.

DALLAS - Texas Sen. Kirk Watson, D-Austin, outlined a 10-part, 10-year plan Tuesday to build an academic hospital and medical school at the University of Texas in Austin.

The Louisiana Joint Legislative Committee on the Budget last week accepted a revised business plan for a $1.088 billion state hospital in New Orleans.

The Connecticut Health and Educational Facilities Authority plans to sell $260 million of fixed-rate, tax-exempt Series A revenue bonds for Hartford HealthCare Corp. on Thursday, following a one-day retail order period.