Healthcare industry

The New York City Health and Hospitals Corp. said it will use all tax-exempt bonds in its $513.8 million deal pricing this week instead of including a portion of Build America Bonds.

WASHINGTON — A professional group of accountants is asking the Internal Revenue Service to give large nonprofit hospitals a grace period of at least three years to fix any tax compliance problems that could jeopardize their tax-exempt status.

CHICAGO — The Illinois Finance Authority board this week advanced deals to help fund projects for the University of Chicago Medical Center and DePaul University and announced the successful pooling of federal recovery zone facility bond allocations from at least 15 cities and counties for Navistar International Corp.

CHICAGO — Moody’s Investors Service downgraded more nonprofit health care providers than it upgraded during the third quarter, a trend it expects to continue through 2011, the agency said in a new report.

Fitch Ratings affirmed the BB-plus rating on Mount Sinai Medical Center of Greater Miami and revised the outlook to positive last week.

The New York City Health and Hospitals Corp. plans next week to market its first new-money bonds in seven years. The corporation plans to sell up to $225 million of taxable Build America Bonds and up to $500 million of tax-exempt refunding bonds Tuesday, following a one-day retail order period Monday.

CHICAGO — Novi, Mich.-based Trinity Health Credit Group, one of the country’s largest health care systems, enters the market Wednesday with $276 million of debt.

Fitch Ratings dropped a Lee’s Summit Industrial Development Authority issue for John Knox Village to BBB-minus — the last rung of investment-grade — due to ongoing fiscal strains.

Central DuPage Health and Delnor Health System have reached a memorandum of understanding that is expected to lead to a merger that will yield one system serving Chicago’s western suburbs.

The Oklahoma Hospital Association came out last week in opposition to a proposed Oklahoma amendment that would boost aid to public education because the group said it would reduce the money available for Medicaid funding.

DALLAS — A nonprofit corporation responsible for heating and cooling 13 million square feet of space at the Texas ­Medical Center in Houston will issue $52 million of revenue bonds to keep pace with the growing campus.

CHICAGO — Chicago-based BMO Capital Markets has hired senior public finance health care banker David Johnson and three of his colleagues from Ziegler Capital Markets for its merged higher education and health care practices, and named a fouth colleague to lead its strategy and analytics efforts.

Moody’s Investors Service upgraded to Aa3 from Baa2 its rating on St. Luke’s Hospital after it officially joined ProMedica Health System.

CHICAGO — The continuing-care retirement community sector is starting to show signs of stabilization after suffering through two years of hardship, according to credit analysts.

CHICAGO — Michigan’s largest charity-care provider, already junk-rated, saw its outlook revised to negative by Moody’s Investors Service Monday.

Fitch Ratings downgraded to A-plus from AA its rating on Reid Hospital & Healthcare Services Inc., affecting $188 million of debt. The outlook remains negative at the lower rating.

CHICAGO — Illinois hospitals pump more than $75.1 billion into the state’s economy annually and provide about $4.9 billion in community benefits, including $500 million in charity care, a new report from the Illinois Hospitals Association asserts.

CHICAGO — A federal bankruptcy court judge on Tuesday approved Senior Care Development LLC’s $40 million bid to purchase two Chicago area bond-financed continuing care retirement communities although the size of a final payout for bondholders remains unclear.

The Victor Valley Community Hospital filed for Chapter 11 bankruptcy protection earlier this month.

A report on how much debt can be supported by the proposed new state teaching hospital in New Orleans will be released by the first of October.