Not-for-profit healthcare

Balance sheet damage from labor costs, the pandemic and a cybersecurity breach triggered covenant violations for Capital Region Medical Center.

Moody's downgraded $651 million of Main Line Health Services revenue bond debt to A1 from Aa3.

University of Michigan Health will acquire Sparrow Health System in a move that provides a fiscal infusion for Sparrow's operational and capital ailments.

Arrick was formerly a managing director and healthcare group leader for S&P Global Ratings.

Advocate Aurora Health and Atrium Health finalized their merger Friday.

Texas trails only Florida for first-time payment defaults on bonds issued for senior health and living facilities for seniors since 2009, according to MMA data.

Hospital fiscal wounds have mounted this year and the balance sheet damage is expected to extend into 2023 as labor pressures show little sign of easing.

University of Chicago Medicine and City of Hope are borrowing through the IFA for acquisitions that expand their footprint

The merger talks between South Dakota-based Sanford Health and Minnesota-based Fairview Health are the not-for-profit sector's latest consolidation attempt.

S&P said the ProMedica's divestiture helps address operating losses but it's a longer road ahead to return to investment grade.