Healthcare industry

St. Joseph Health System and Hoag Memorial Hospital Presbyterian, two California hospital systems that formed an affiliation, plan to price $763 million in debt on Wednesday through California Health Facilities Financing Authority.

Arizona Gov. Jan Brewer is expected to sign an $8.8 billion budget that includes expansion of the state Medicaid program for the working poor.

The University of Pittsburgh Medical Center accused Pittsburgh Mayor Luke Ravenstahl of suing it over its nonprofit status to cover a scandal in his administration, according to a court filing.

Moody's upgraded San Diego, Calif.-based Sharp HealthCare's rating to A1 from A2 affecting approximately $475 million of outstanding debt.

Moody's Investors Service placed Antelope Valley Healthcare District's Baa3-rated bonds on review for downgrade following the unexpected resignations of the chief executive officer and the chief financial officer.

Dallas' Parkland Hospital Board has approved $42 million of bonds for a new $1.3 billion hospital financed mostly by Build America Bonds issued in 2009.

Moody's Investors Service said it has downgraded the long-term rating assigned to Proctor Hospital, Ill., to B2 from Ba2.

Moody's Investors Service Monday upgraded to Baa2 from Baa3 its rating on Mercy Memorial Hospital Corp., reflecting three years of improved performance.

A lawsuit filed in Cook County Circuit Court against the Illinois Department of Revenue claims changes made in 2012 to the state's charity care law that governs not-for-profit hospitals violates the state constitution.

Local opposition to Gov. Rick Perry's refusal to expand Medicaid surfaces, as the state's 254 counties cope with the nation's highest rate of uninsured residents.

Ascension Health Alliance will make its first foray into the long-term taxable market this week when it sells $1 billion of refunding bonds in a mix of tax-exempt and taxable paper.

A New York law gives the state's government until June 15 to consider a four-year plan that would cost at least $457 million to sustain Brooklyn hospitals.

Standard & Poor's upgraded Palisades Medical Center to the investment grade BBB-minus from the speculative grade BB-plus on Wednesday, citing its improved balance sheet.

Judith Frank, 71, of Los Angeles, has been re-appointed to the California Health Facilities Financing Authority.

Standard & Poor's dropped the rating on Rutgers University's general obligation debt to AA-minus from AA, citing risks associated with the planned merger with University of Medicine & Dentistry of New Jersey.

Cincinnati-based Catholic Health Partners, Ohio's largest health care system, announced last week it is acquiring Kaiser Permanente Ohio, a northeast Ohio health plan.

Moody's Investors Service Monday affirmed its A2 rating on Bronson Healthcare Group and revised the outlook to stable from positive, saying the system has had softer operating margins following a 2011 merger and faces higher capital demands in 2013.

Moody's Investors Service said a court ruling that allows California to cut its Medi-Cal program is a negative for the credit ratings of hospitals, and positive for the state's fiscal flexibility.

The California Health Facilities Financing Authority, a conduit issuer, last week approved an $850 million bond issuance for St. Joseph Health System, according to a spokesman.

The highly-regarded Rehabilitation Institute of Chicago received a first time rating of A-minus from Fitch Ratings that banks on a successful fundraising campaign to help repay debt being issued to finance a $550 million replacement facility.