Healthcare industry

Massachusetts Attorney General Martha Coakley will hold a public hearing at 6 p.m. on Aug. 9 at Quincy High School on the proposed $38 million sale of Quincy Medical Center Inc. to Steward Health Care System LLC.

CHICAGO - The Illinois Finance Authority board Tuesday signed off on Advocate Health Care Network's sale of up to $533 million of new-money and refunding bonds, and the newly merged Central DuPage Health-Delnor Health System's $190 million direct-purchase issue.

Moody's Investors Service last week affirmed Fairfield Medical Center's Baa2 rating and revised its outlook to stable from negative, citing its sustained operating improvements. The action affects $34.2 million of rated debt.

Moody's Investors Service has revised its outlook on Saint Luke's Health System's A1 rating to stable from negative due to its improved operating performance. The action affects $532 million of debt issued through the Missouri Health and Educational Facilities Authority.

Moody's Investors Service changed its outlook on Decatur Memorial Hospital's A2 rating to negative from stable due to a downturn in its operating performance. The action applies to nearly $40 million of debt.

DALLAS - After pricing $347 million of general obligation bonds for expansion of state facilities Monday, Texas is preparing another $300 million of taxable debt for its Cancer Prevention Research Institute next week.

Massachusetts Attorney General Martha Coakley has asked a bankruptcy judge to review the proposed $38 million sale of Quincy Medical Center Inc. to Steward Health Care System LLC.

DALLAS - The board overseeing the construction of a proposed $1.2 billion state hospital in New Orleans decided Wednesday to take another look at the proposed financing.

Moody's Investors Service has upgraded Loyola University Chicago's rating one level to A2 following the completion of the school's sale of its health system to Trinity Health on June 30.

The Internal Revenue Service closed a routine audit without changing the tax-exempt status of $147.5 million of auction-rate securities sold by the New Mexico Hospital Equipment Loan Council in May 2004.

DALLAS — The board set up to finance and operate a new state teaching hospital in New Orleans has withdrawn its request for federal enhancement of revenue bonds needed to build the $1.2 billion University Medical Center.

Fitch Ratings has placed on watch the BB-minus rating on $747.7 million of Series 2007A revenue bonds issued by the Allegheny County Hospital Development Authority on behalf of the West Penn Allegheny Health System of Pittsburgh.

Fitch Ratings has affirmed its stable outlook and A-minus rating for the University of Medicine and Dentistry of New Jersey.

Quincy Medical Center Inc. has sought bankruptcy protection as a part of a plan for Steward Health Care System LLC of Boston to take it over.

Milwaukee-based Robert W. Baird & Co. is moving into the health care and senior-living financing sectors with the new hire of a public finance banking veteran.

Novi, Mich.-based Trinity Health has closed its acquisition of Chicago's Loyola University Health System in a deal that totals more than $1 billion.

Moody's Investors Service raised its rating to Baa1 from Baa2 on $137 million of bonds issued on behalf of the Altru Health System by the city of Grand Forks. The outlook is stable.

The Illinois Health Facilities and Services Review Board last week denied applications from two competing hospital systems seeking to build new facilities in the growing region north of Chicago in McHenry County.

Moody's Investors Service last week downgraded Northwest Community Hospital's rating one notch to A1 due to its weakened financial performance.

CHICAGO — Cleveland has sued the Cleveland Clinic over its decision to close a hospital on the city's east side, arguing in part that the prestigious clinic's acceptance of tax-exempt funding from the state requires it to provide equitable services to the city.