Healthcare industry

Minnesota-based HealthEast Care System lost its Fitch Ratings investment grade rating over its lack of progress in improving profitability.

Mission Regional Medical Center, in the Lower Rio Grande Valley of Texas, suffered a five-notch downgrade to B-minus from Standard & Poor's Global Ratings. The downgrade affects $26.5 million of outstanding debt.

Gov. John Bel Edwards, a Democrat, blasted a budget proposal by House Republicans to address a $600 million deficit by funding a college scholarship program at the expense of health care programs.

The nation’s largest issuer is collaborating with the New York Department of Health (DOH) to expedite reimbursements from bond proceeds for the state’s healthcare institutions.

Catholic Health Initiatives, the nation’s second-largest nonprofit healthcare system, was downgraded by Moody’s Investors Service, affecting $7.3 billion of rated debt.

Texas hospitals will continue to be reimbursed under the federal Medicaid program after the state received an extension of a waiver for 15 months, a positive credit factor for the state's nonprofit hospitals, according to ratings analysts.

Two hospital districts in the Permian Basin oil producing region of West Texas took downgrades from Moody’s Investors Service, one to speculative grade.

Missouri-based St. Luke’s Health System heads into the market with a $250 million refunding Thursday that will enhance the conservative structure of its debt portfolio.

The Mayo Clinic is returning the market Tuesday with a $200 million refunding, a follow up to its $350 million taxable new-money issue in March.

Hawaii signed a lease agreement with Kaiser Permanente in which the health system will take over three struggling Maui hospitals.

Illinois-based MercyRockford Health System is bringing a $495 million deal to lay the groundwork for both a new hospital and new identity as Mercy Health Corp.

An uptick in patient volume and the November acquisition of Allegiance Health helped boost Detroit-based Henry Ford Health System’s credit rating outlook.

St. Louis-based Ascension Health Alliance is set to bring $1.9 billion of bonds to market in deals that fold into one package the system's new money needs, refunding opportunities and refinancing of inherited debt.

Citing “persistent and large operating losses,” Standard & Poor’s downgraded Catholic Health Initiatives one notch to A-minus and retained a negative outlook.

Ohio-based Kettering Health Network won an upgrade from Standard & Poor’s ahead of its upcoming $90 million sale.

San Francisco-based Dignity Health had its outlook revised to negative from stable by Standard & Poor's, which cited a decline in financial performance.

Ascension Health Alliance, the nation's largest not-for-profit healthcare system, plans to sell about $1.9 billion of debt over the next month.

The Philadelphia Area Municipal Analyst Society will explore how the city’s academic medical centers can adapt to stay ahead of a rapidly evolving healthcare environment at the organization’s meeting next week.

Loma Linda University Medical Center received mixed messages from two rating agencies as it prepares what will be the municipal bond market’s largest junk rated deal of the year so far.

Cook County board President Toni Preckwinkle will introduce plans next week for a privately financed $600 million redevelopment of the county’s long-closed historic hospital along with a new $118 million bond-funded addition to its current hospital campus.