Bonds

A bankrupt, bond-financed Texas hospital that opened for business in November 2021 will obtain $2.7 million for operating and other expenses under a federal judge’s interim order issued late last week. Sunland Medical Foundation, the nonprofit parent organization of Trinity Regional Hospital Sachse, is also seeking additional debtor-in-possession financing in an aggregate amount of up

California Attorney General Rob Bonta conditionally approved the $35.6 million sale of three northern California skilled nursing facilities owned by Eskaton. Eskaton, a Carmichael, California-based not-for-profit senior healthcare provider formed in 1968, had $102.8 million in revenue bonds and notes at the end of fiscal year 2022, according to combined audited financial statements for the

Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription: Lynne Funk (00:03):Hello everyone, and welcome to another Bond Buyer podcast. I’m Lynne Funk, executive editor at The Bond Buyer. I’m excited to welcome Ruth Ducret, Senior Research Analyst at Breckinridge. Ruth has more than 19 years of experience in the

Kentucky is gearing up for the start of sports betting at retail locations on Thursday. “Excitement for sports wagering is building as we are just one week away from opening retail locations and one month from opening mobile applications for sports wagering,” said Gov. Andy Beshear said in a statement last week. Kentucky Senate Majority

Oregon’s third-largest city is about to lose its only hospital, illustrating the fallout of pressured health-care systems across the country.  Operator PeaceHealth announced last week its plan to shutter University District hospital because of underutilization. The hospital in Eugene, which is home to the University of Oregon, loses an average of $2 million a month,

Although Oregon’s tax collections have stabilized after several quarters of unexpectedly rapid growth, the state expects to pay out a record-breaking $5.6 billion through its “kicker” rebate, according to state economists, while lawmakers expect to have more to spend on infrastructure and social programs. The previous record kicker was $1.9 billion in 2022. Taxpayers will

The Oklahoma Turnpike Authority will return to a state oversight board in September in its quest to issue $500 million of revenue bonds for a controversial $5 billion, 15-year expansion project. The Council of Bond Oversight will take up OTA’s bond application at its Sept. 11 meeting, according to Alexandra Edwards, deputy state treasurer for debt

Securities issued by Hawaiian Electric Co. — including tax-exempt revenue bonds guaranteed by the company — have been in freefall in the wake of a devastating wildfire in Maui that killed at least 115 people.  The company’s bond ratings have been cut to below investment grade,  pushing prices on its municipal bonds as low as

California’s late audited financial statements continue to be a topic of discussion for agencies rating the state’s bonds. Fitch Ratings noted that the state was significantly late in producing its annual comprehensive financial report for fiscal year 2021 in a ratings report issued ahead of the state’s plans to price $2.6 billion in general obligation

California has made significant enough progress on its transportation infrastructure that the state’s auditor has removed the sector from its high-risk list. The state auditor puts out an annual report to the governor with a list of state agencies that it believes need improvement because their deficiencies “pose a high risk to the state.” The

A bankrupt California hospital will receive a $10 million loan from a new state program to aid troubled providers. The loan would throw a lifeline to the San Benito Health Care District, which operates Hazel Hawkins Memorial Hospital in Hollister. San Benito filed for Chapter 9 bankruptcy in May as it faced waning cash and

Pittsburgh’s long-running shift from the industrial Steel City to a technological hub is heading in a new direction — toward outer space and the moon. With Pittsburgh as hub, western Pennsylvania, West Virginia and Ohio are becoming a region where robotics, materials science, engineering and advanced manufacturing come together to serve the new space race.

Connecticut’s first offshore wind farm is one step closer to reality after a federal ruling came down this week. On Tuesday, the Bureau of Ocean Energy issued a “record of decision” on a federal environmental review of Revolution Wind, a 704-megawatt offshore wind farm planned for development off the coast of the state in a

First-half municipal bond issuance in the Far West region was down 2.3% year-over-year to $38.2 billion, according to Refinitiv data. California drove the Far West bus as usual with $26.6 billion in bonds sold by issuers in the Golden State, compared to $4.52 billion from Oregon and $4.47 billion from Washington, the states with the

Kentucky and Indiana are lobbying for federal funds to cover half the cost of a bistate Ohio River bridge that would connect the Interstate-69 national trade corridor. The I-69 Ohio River Crossing is more than 20 years in the planning and in the end will feature a four-lane, tolled bridge carrying I-69 from southern Indiana to northern

Maryland will wager on federal funds for a massive and controversial project to ease congestion around the American Legion Bridge that was previously structured as the largest public-private partnership in the U.S. Maryland Gov. Wes Moore Monday made his first public comments on the project since the state’s private partner Transurban Transurban announced in March

Vermont launched part one of a two-part general obligation bond sale this week with a competitive auction of $61.2 million of new money bonds. That will be followed with a $53.5 million GO refunding that is expected to price by negotiation Thursday. The competitive bid was won by BofA Securities, according to Refinitiv TM3. The

Municipal bond issuers in the Midwest largely tracked their national peers in the first half of 2023, with volume down 19.4% compared to the first half of 2022. They sold $32.6 billion of debt spread over 1,223 deals in the first half, down from $40.5 billion in 1,764 deals in the year-ago period, according to

The Inflation Reduction Act’s tax credits have the potential to transform the energy market, and in drafting best practices, the Department of Treasury and Internal Revenue Service should consider the compliance burdens, added premiums and easing the excessive payments statute for state and local governments.  That’s according to Emily Brock, director of the federal liaison

Underwriting spreads for all bonds inched up in the first half of 2023 bucking a nearly 15-year downward trend, according to Refinitiv data. After hitting what was a 20-year low last year, gross underwriting spreads for all bonds rose modestly to $3.70 in the first six months of 2023, up from $3.54 in the first