Bond Markets news and information

BATON ROUGE, La.—Plans to privatize most of Louisiana State University's public hospitals means borrowing for repairs and construction of the health facilities will be taxable. That borrowing will cost the state more. The Louisiana State Bond Commission learned that bonds issued for...
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Not-for-profit healthcare borrowers are enjoying more options to borrow and at better rates.
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HCA announced it was planning a special stock dividend of $2 a share and also planned a $1 billion offering in senior notes due in 2021.
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Moody's Investors Service calls the proposed merger between Catholic healthcare giants Trinity Health and Catholic Health East credit positive for the not-for-profit hospital industry.
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Fitch Ratings lowered its already low rating for West Penn Allegheny Health System to CCC from B+, a multi-notch drop, as the chance of debt restricting grows and an acquisition by Highmark looks less certain.
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One major credit rating agency upgraded more not-for-profit hospitals and systems than it downgraded between July and September, and deals—mergers, acquisitions and leases—were behind better credit in several cases.
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Later this week, Catholic Health Initiatives is expected to enter the taxable market to borrow $1.5 billion, joining a string of not-for-profit systems that have bypassed tax-exempt debt thanks to the flexibility and recent favorable rates found in taxable markets.
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HCA, Nashville, plans to issue about $2 billion in new debt to fund a $2.50 per-share special cash dividend as well as refinance existing debt coming due next year.
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Dignity Health became the latest not-for-profit health system to announce it would venture for the first time into taxable public markets.
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Municipal bonds sold by hospitals and healthcare providers are rallying the most since 2009, defying a potential $11 billion drop in Medicare funding from federal budget cuts that loom in three months.
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