Healthcare industry

Hospitals operating in the state provided more than $1.8 billion in community-related benefits in 2007, up by $200 million a year earlier, according to a report released last week by the Missouri Hospital Association.

Standard & Poor’s revised its credit outlook on Howard University to negative as the school and its affiliated hospital have suffered operating losses.

CHICAGO — The Illinois Finance Authority board signed off on more than $1 billion worth of nonprofit health care deals and accepted the resignation of executive director John Filan, but then rehired him in an advisory capacity to help implement a revamped $3 billion program for renewable energy.

Standard & Poor’s has revised its outlook on Chicago-based Swedish Covenant Hospital’s BBB-plus issuer credit rating to stable from positive due to operating losses last year.

Standard & Poor’s revised its outlook on Chippewa County Memorial Hospital’s below-investment-grade credit of BB-plus to stable from positive.

Arizona State University in August will open its new College of Nursing and Health Innovation in downtown Phoenix that has been built with proceeds from bonds issued by the city.

The New Jersey Health Care Facilities Financing Authority tomorrow will head to market with $150 million of state-backed, fixed-rate bonds that will help finance the consolidation of acute-care services in northern New Jersey.

Former Vermont Gov. Howard Dean and former Indianapolis Mayor Stephen Goldsmith yesterday announced the launch of a working group that will push for the creation of a new federal "center of excellence" that municipal and state officials could consult for guidance on public-private partnerships.

The Weirton Municipal Hospital Building Commission’s $7.5 million of revenue debt was downgraded by Fitch Ratings on Friday.

Moody’s Investors Service has revised its outlook to negative from stable on Elmhurst Memorial Healthcare’s Baa1 rating as a result of the hospital’s weakened credit profile. The action affects $502 million of debt.

DALLAS - Louisiana Gov. Bobby Jindal said a more detailed business plan is needed for a proposed state hospital complex in New Orleans that would replace storm-damaged Charity Hospital.

Congress should be careful when considering whether to legislatively require nonprofit hospitals to meet national minimum standards to remain tax-exempt, because the legislation could impose unfair burdens and costs and potentially damage the hospitals' bond ratings, an attorney warned earlier this week.

The Dormitory Authority of the State of New York yesterday approved up to $1.27 billion of refundings of state-backed debt and took actions to deal with the downgrade of a liquidity provider used by some of its conduit borrowers.

DALLAS - The Lower Rio Grande Valley would get its first medical school under legislation awaiting Texas Gov. Rick Perry's signature.

CHICAGO - Chicago-based Resurrection Health Care's "sizeable" losses, which have eroded the Catholic system's liquidity and debt service coverage ratios, prompted Standard & Poor's yesterday to revise its outlook on the underlying BBB-plus credit to negative from stable.

The Senate Finance Committee is considering mandating nonprofit hospitals to provide a minimum level of charitable patient care and meet other requirements to retain their tax-exempt status and issue 501(c)(3) bonds.

CHICAGO - The triple-A rated University of Michigan enters the market tomorrow with $225 million of debt - the first piece in about $315 million of borrowing planned through early June that includes $50 million of Build America Bonds to finance a new women's and children's hospital and stadium renovations.

CHICAGO - Joliet, Ill.-based Silver Cross Hospital and Medical Centers is looking at entering the market as soon as this week with its long-planned sale of $250 million of fixed-rate bonds to help finance construction of a replacement hospital - an undertaking that officials believe was worth multiple-notch downgrades over the long term.

BRADENTON, Fla. - A Kentucky lawmaker said he will raise questions today about whether a lease transaction to finance the purchase of a hospital exposed a flagship state university to risks posed by an underlying swap and letter of credit.

WASHINGTON - The top Republican on the Senate's tax-writing committee yesterday suggested that nonprofit hospitals, which are currently tax-exempt and have the ability to issue tax-exempt bonds, should instead become taxable and receive tax deductions or credits for charitable activities.