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Rating downgrades exceeded upgrades for all three rating agencies in 2022. Below are five key takeaways: Downgrades covered a wide swath of hospitals including single site hospitals and...

In an August post on our Trending in Treasury & Capital Markets blog, we commented on how one of the movie highlights of the past year— Everything Everywhere All at Once—served as a...

Although hospitals have experienced difficult operating periods and volatile stock markets in the past, the simultaneous impact of these two forces in 2022 was a first in not-for-profit healthcare, creating a financial “twindemic” that drove many of the downgrades.

In this summary of our Healthcare Leadership Conference rating agency panel, the agencies’ not-for-profit healthcare leaders address issues related to financial performance, covenant management, and ESG.

In recent months, hospitals of all sizes and ratings are reporting tremendous financial turbulence, primarily due to externalities such as the nursing shortage and the need for expensive contract labor.

Not-for-profit healthcare investors provide their perspectives on issues including weak financial performance and the threat of breached covenants, best practices for disclosure and transparency, and the growing influence of ESG concerns on investment decisions.

With one out of every two hospitals expected to show an operating loss in 2022, presentations to the rating agencies in many cases need to focus more on the turnaround plan and less on...

Benchmark yield curves are flat to inverted but long rates remain historically attractive. Public market not-for-profit healthcare issuance is light, reflecting two previous years of...

It’s not all bad news when it comes to not-for-profit hospital financial performance. Some hospitals and health systems are navigating labor pressures and reporting improving results.

The possibility of breached covenants is a symptom of deeper problems that require an all-hands-on-deck approach to get back on a sustainable path.

The staggering losses reported by many not-for-profit hospitals in the first quarter of 2022 showed deficits that the industry has rarely seen.

The pandemic and its complex social and economic effects have dislocated the modern workforce. The problem is especially profound in healthcare, where nearly 1 in 5 workers quit their jobs during the pandemic and one-third of nurses plan to leave their current roles by the end of 2022.