Water Agency Ratings Changes Roundup: June 2022
Fitch Ratings recently updated its ratings on various water agencies in California, Oregon, and Texas. Water District of Southern California was given the rating of 'AA+' on its senior lien and subordinate lien water revenue bonds and term bonds, and bank bond ratings...
Court Strikes Down PennDOT’s P3 Bridge Plan
Pennsylvania's Commonwealth Court ruled last week that the Pennsylvania Department of Transportation's plan to toll nine interstate bridges in Pennsylvania violates state law. PennDOT's announcement that I-79 will be tolled was met with opposition as South Fayette...
Moody’s: Ports Outlook Positive; Unaffected by Russia, Ukraine War
The Russia-Ukraine war may have rattled the global economy and supply chain, but Moody's asserted that the crisis did not spill over into sea ports as things continue to remain positive for the sector. Summarizing the analysis of Moody's reaffirming its positive...
Supreme Court to Decide Whether Pennsylvania Town Actually Owns Its Water Assets
Does the mid-sized Pennsylvania town of Chester actually own its Water Authority? The state's Supreme Court is now weighing in. In the September decision of the lower court, it ruled that Chester was the sole owner of CWA. This prompted Chester City Council to enter...
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Massachusetts Senate Approves $10.4 Billion Infrastructure Bill
A bond bill that calls for using the state's CARES act funding to finance infrastructure improvements was recently approved by the Massachusetts Senate. $10.4 billion was approved to be used to modernize the state's public transportation system, fix deteriorating...
$255 Million In Grants Made Available for New York’s Water Infrastructure Upgrades
New York state is allocating $255 million in grants for the replacement of old septic systems and other water infrastructure projects, announced by Gov. Kathy Hochul. The funding is targeted to finance the upgrade of wastewater and sewer systems, reduction of water...
Bargaining Leverage Increases Capital Investment at Non-Profit Hospitals
Bargaining leverage increases hospital capital investment, and the effect is particularly pronounced at non-profit hospitals, which invest their monopoly profits in additional capital, according to a recent analysis published in the Journal of Industrial Economics....
Why Liquidity Constraints Affect Capital Investments More at Non-Profit Hospitals: New Research
Liquidity constraints affect hospitals' capital investment, and these constraints are more pronounced at non-profit hospitals, according to a new paper. The authors analyzed ten years of financial data from California hospitals to examine how liquidity constraints...
Hospital M&A Transactions in Utah and New Jersey Scrapped After FTC’s Challenge
In the wake of an FTC lawsuit, RWJBarnabas Health announced that it will not proceed with its proposed deal to acquire Saint Peter’s Healthcare System. Subsequently, HCA Healthcare and Steward Health Care System scrapped their plan to acquire five Utah hospitals. As...
FTC Files Suit Against Non-Profit Hospital Merger
Several healthcare mergers were called off after the Federal Trade Commision filed an an anti-competition lawsuit to block the proposed deals between HCA Healthcare and Steward Healthcare System; RWJBarnabas Health and Saint Peter’s Healthcare System; and Hackensack...
Lutheran Health Network to Invest $30 Million in Kosciusko Hospital Expansion
Kosciusko Community Hospital will be renamed Lutheran Kosciusko Hospital following a $30 million investment, involving expansion and renovation projects, from the Lutheran Health Network. Becker's Hospital Review reports: The new project will add an additional 13,600...
In Washington State, Democrats Propose Blocking Hospital Mergers That Would Limit Abortion Services
A bill, proposed by Democratic senators in Washington state, seeks to halt mergers involving hospitals which are religiously affiliated if the deals would limit access to abortion care. When Tacoma-based CHI Franciscan merged with Virginia Mason Swedish Medical...
Running the Numbers: Biden Admin Mulls Reviving “Gainful Employment” Rule Tying Federal Funding to Graduate Earnings
The Biden administration is considering reviving an Obama-era "gainful employment" rule which would tie federal higher education grants and funding to graduates' earnings. A new analysis shows that the rule would cut off access to federal grants and loans for 49...
University of Georgia Raising $300 Million for Facilities Expansion
The University of Georgia Athletic Association announced its goal to raise $300 million through fundraising for the Commit to the G campaign, $50 million of which will be designated for women's athletics and varsity programs. The G campaign aims to support three key...
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