Healthcare industry

Harris County Hospital District is planning to issue $104 million of senior-lien refunding bonds this week in variable-rate mode with a letter of credit from JPMorgan Chase. The tax-exempt bonds will retire Series 2007B auction-rate bonds that were converted to taxable debt in April 2008.

The Dormitory Authority of the State of New York created a finance committee last week to comply with a public authority reform law enacted last year. The committee will review all proposals for bond financings with DASNY staff before they are brought to the board for approval.

WASHINGTON — Rating agencies have expressed serious concerns about the District of Columbia’s financial status, particularly regarding its foreclosure this month on a troubled hospital, according to a letter the chief financial officer sent to city officials Wednesday.

CHICAGO — All five southeastern Wisconsin school districts involved in a failed investment scheme tied to funding their non-pension retiree health care trusts are reneging on their moral obligation pledge to repay asset-backed notes issued by the trusts and sold to Depfa Bank Plc.

Because Congress has failed to extend federal Medicaid assistance funds, Georgia Gov. Sonny Perdue last week ordered most state agencies to cut their budgets by 4%. Only the budget supporting K-12 schools was exempt from the cuts.

Moody’s Investors Service revised its outlook to stable from negative on Wheaton Franciscan Services Inc.’s Baa2 rating, citing progress in turning around its financial performance.

Standard & Poor’s last week revised its outlook to stable from negative and affirmed its A-minus rating on Memorial Hospital and Health Center, a 131-bed hospital located in the town of Jasper.

WASHINGTON — Florence County, S.C., will begin issuing $122.4 million of revenue bonds Monday for several projects at the McLeod Regional Medical Center as the hospital chain has demonstrated credit strength despite a struggling regional economy and the changing health care environment.

CHICAGO — A Wisconsin Supreme Court decision overturning the state diversion of $200 million from a medical malpractice fund will force a new round of budget cuts, Gov. Jim Doyle’s administration said Tuesday.

Moody’s Investors Service has dropped Juneau County’s rating to A2 from A1 due to a weakened general fund and a negative balance in its health services fund. The downgrade affects $12.4 million of outstanding general obligation debt.

Moody’s Investors Service last week upgraded HealthPartners Inc.’s rating to A3 from Baa1, citing a track record of profitability with improved performance in fiscal 2008 and 2009.

The Detroit Economic Development Corp. last week approved an inducement resolution to issue $15 million of recovery zone facility bonds to finance construction of a new medical office building in the city.

DALLAS — New Orleans is spending millions to purchase a hospital damaged by Hurricane Katrina and renovate the vacant facility to serve residents of the city’s east side.

WASHINGTON — Congress returns to work this week still lacking a clear game plan for extending bond programs and other federal assistance for state and local governments, despite pleas for the extensions from governors meeting in Boston through the weekend.

Travis County Healthcare District, which operates as Central Health, plans to seek authorization from Travis County commissioners for $18 million of 20-year certificates of obligation to finance a new health clinic.

BOSTON – U.S. governors this weekend called for greater fiscal discipline in their states to calm bond market fears over their debts, but they offered little consensus on efforts to extend certain federal government stimulus programs, specifically Build America Bonds.

CHICAGO — The Minnesota Nurses Association and 14 hospitals in the Twin Cities area reached an agreement late last week on a new contract, averting a threatened strike by 12,000 nurses that was set to start this week.

Bexar County commissioners will be asked to move up the sale of the fourth and final tranche of debt to finance Bexar County Hospital District’s ongoing expansion project of its facilities in San Antonio.

Kansas Gov. Mark Parkinson joined other governors last week in support of a proposal to continue a $25 billion program of emergency federal aid to state Medicaid programs.

Congress’ failure to pass a six-month extension of enhanced federal matching funds under the Federal Medicaid ­Assistance Program will deprive states of billions of dollars in expected revenue, lead to drastic cuts in programs and result in the loss of thousands of jobs, 13 governors warned Wednesday.