Provisions of the recently enacted Inflation Reduction Act now allow the federal government to provide a direct payment for qualifying renewable energy projects owned by tax-exempt entities.

Not-for-profit healthcare issuance remains light across public and private funding channels. Uncertainty about the depth and breadth of capital access options persists but the main...

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...

We see a continued modest capital formation environment. Bon Secours Mercy issued approximately $400 million of tax-exempt debt in a very difficult market. The transaction got done, but...

Not-for-profit healthcare issuance remains light across all public and private funding channels. Rates remain relatively attractive, but uncertainty about the depth and breadth of the...

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.

Public market not-for-profit healthcare issuance remains relatively light. There seems to be more activity in the private markets right now, but total external capital formation...

ESG scores from rating agencies reflect the risk that ESG issues will affect a hospital’s ability to earn cash flow and repay its debt, but are not “gold stars” for a sophisticated or well-considered ESG strategy.

Another quiet couple of weeks in the healthcare funding markets. Markets remain unsettled and not-for-profit healthcare issuance remains light. We are a little past the midyear mark and...

In the current environment—with an uncertain recovery from COVID’s impacts, workforce shortages, heightened geopolitical tensions, inflationary pressures, and rising interest rates...