Healthcare industry

Fitch Ratings has placed $112.5 million of revenue bonds issued for the J. David Gladstone Institute on negative outlook due to "unsustainable" draws on the organization's endowment fund.

The Affordable Care Act is helping lift the non-profit health care sector out of its years-long torpor, according to Standard & Poor’s, which revised its outlook on the sector to stable from negative.

The Illinois Finance Authority board advanced nearly $400 million of new borrowing plans at its meeting Thursday in deals that highlight the popularity of direct placements.

Fitch Ratings downgraded to junk $683 million of Loma Linda University Medical Center, Calif. revenue bonds saying the hospital plans to issue more debt next year to tackle earthquake safety projects than it had anticipated.

Moody’s Investors Service downgraded the rating of Lancaster, Calif.-based Antelope Valley Hospital District further into junk territory citing the sudden resignation of the hospital’s chief executive officer this summer.

The Oregon Facilities Authority is preparing to sell a cross-border deal when it issues $71.1 million of bonds for Providence Health & Services in Washington.

OSF Healthcare System in Illinois heads into the market next week with its $368 million sale with a second dose of good credit news.

A struggling hospital in an affluent Detroit suburb has merged with Ascension Health, the largest non-profit health care system in the country.

Illinois-based OSF Healthcare System won an upgrade ahead of its September new money and refunding sale for $367 million in recognition of its improved financial performance.

West Jefferson Medical Center, La.'s bond ratings were cut three notches to Ba2 due to a "precipitous" downturn in operating performance, Moody's Investors Service said.

Pittsburgh-based PNC Capital Markets LLC hired public finance banker Kerry Rudy in Chicago to lead its national healthcare sector and is bolstering its New York team with the addition of Lawrence Stephens to lead coverage of the city.

Moody's Investors Service upgraded Citrus Valley Health Partners, Calif.'s underlying revenue bond ratings to Baa3.

Moody's revised its outlook on the nonprofit health care sector to stable from negative, where it has been since 2008, citing significant gains in several key areas.

Diane Stanton began work Monday as executive director of the California Health Facilities Financing Authority, a conduit issuer for the state's non-profit hospitals, according to the treasurer's office.

Multiple factors are pressuring Puerto Rico's nonprofit universities and hospitals, Standard & Poor's said Thursday.

Puerto Rico's ongoing fiscal struggles could have negative credit implications for some health care providers on the island.

The Chapter 11 bankruptcy filing of Clayton County, Ga.'s only hospital is a favorable credit factor for the county, according to Moody's Investors Service.

Moody's Investors Service has revised its outlook on Wisconsin-based Mercy Alliance's A2 rating to negative from stable due to execution risks with the system's January merger with Rockford Health System.

Standard & Poor's announced Friday that it is withdrawing its rating on Palm Drive Health Care District, Calif. after repeated attempts to get necessary information from the issuer failed.

The Illinois Finance Authority advanced plans for nearly $1 billion in borrowing on behalf of not-for-profit schools and hospitals led by the University of Chicago.