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BRADENTON, Fla. — A myriad of options, including the use of pension bonds, are being considered in Atlanta, where spending on retirement benefits has soared to 20% of the city’s $523 million annual operating budget and the unfunded liability is now $1.5 billion.
February 24
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Beginning in 2011 Essex County, N.J., may need to repay bondholders on more than $2 million of outstanding debt, as the Garden State Cancer Center is in technical default on the loan.
February 24 -
CHICAGO — The Indianapolis Local Public Improvement Bond Bank today will price $466.6 million of debt, marking the second piece of financing for a new $754 million public safety hospital in downtown Indianapolis.
February 23 -
After two years of turmoil, the nonprofit health care sector might see some relief in 2010, Standard & Poor's said in a new outlook report.
February 18 -
Moody's Investors Service downgraded the Health Alliance of Greater Cincinnati to A2 from A1 after two hospitals separated from the five-hospital system and two more have said they intend to leave. The outlook remains negative.
February 16 - Kentucky
BRADENTON, Fla. — The Owensboro Medical Health System in Kentucky this week is expected to price $545 million of fixed-rate revenue and refunding bonds as part of a finance plan to build a new hospital and terminate two swaps.
February 12 -
CHICAGO — The Illinois Finance Authority this week advanced plans for $750 million of health care borrowing planned by Alexian Brothers Health System, the University of Chicago Medical Center, Palos Community Hospital, and a continuing-care community.
February 10
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DALLAS — Arguments got under way Wednesday in a New Orleans federal district court in an effort by historic preservationists to derail construction of a bond-financed state hospital in the city.
February 10 -
The North Carolina Baptist Hospital is expected to price $330 million of revenue refunding bonds on Wednesday to redeem all its outstanding bonds.
February 10 -
CHICAGO — Fitch Ratings and Moody’s Investors Service are maintaining their negative outlooks on the nonprofit health care sector, warning that the industry faces a slew of pressures ranging from risks associated with variable-rate debt to the uncertainty of national health care reform and the likelihood of state and federal reimbursement cuts over the next 12 to 18 months.
February 9 -
Two rating agencies have revised Provena Health’s outlook to stable from negative ahead of its $126 million debt restructuring that took place on Monday.
February 9 -
The University of Pittsburgh Medical Center next week will issue $720 million of tax-exempt revenue bonds, part of the health care provider’s $1.1 billion debt refinancing plan.
February 8
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A Newark, N.J., bankruptcy court Tuesday approved St. Mary’s Hospital’s reorganization plan, a move that will now require New Jersey to pay $1.5 million per year through 2027 to help meet debt service payments on state contract bonds sold on behalf of the health care provider.
February 2 -
CHICAGO — The Indianapolis Local Public Improvement Bond Bank will enter the market today with about $200 million of bonds, in the first of two borrowings that will finance construction of a new, $754 million safety-net hospital for Marion County.
February 2
- Texas
AUSTIN — The $1.3 billion effort to replace Dallas County’s public hospital was able to get off the ground with the use of Build America Bonds, which reduced the debt service burden on county taxpayers.
February 2 -
A plan to build a new hospital advanced last week when the Merrick County Board of Supervisors approved a plan by Litzenberg Memorial County Hospital to build a new $25 million facility and a $9 million long-term care facility.
February 2 -
The Dormitory Authority of the State of New York could sell bonds to refinance the troubled St. Vincent’s Hospital’s debt, according to a spokesman for Congressman Jerrold Nadler, D-Manhattan.
February 1 -
An oversight committee Tuesday urged the bond-funded California Institute for Regenerative Medicine to improve its transparency and accountability. CIRM was created as part of a 2004 ballot measure that authorized $3 billion in state general obligation bonds to finance stem-cell medical research.
January 28 -
CHICAGO — Cleveland’s single-A rated University Hospitals Health System Inc. plans to open a retail order period Monday for roughly $92 million of refunding bonds in a transaction that will shift a chunk of the system’s variable-rate debt into a fixed-rate mode.
January 27
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Moody’s Investors Service last week downgraded the Ohio Valley General Hospital to Baa3 from Baa2. The outlook remains negative.
January 22
