The market environment remains challenging given both rising benchmark rates and volatile spreads along the credit spectrum. It all starts with Treasuries but radiates out to MMD and...

Healthcare issuance kicked back in this week with borrowers confronting varied pricing performance, especially in the tax-exempt sector. We are in a period where risk appetites and risk...

After a run of historically low interest rates, we face the prospect of a changing market. Organizations that are considering issuing debt must now factor in the risk of rising interest...

As we emerge from the COVID-19 pandemic, we face a changed reality. Expenses—particularly labor expenses—have reset at a higher level. Inflation is rising at rates not seen since the...

Debt issuance has been modest, but there is significant building supply. The issuance context is continuing benchmark and credit spread disruption as markets react to competing...

Kaufman Hall co-founder and Chair Ken Kaufman and Senior Vice President Lisa Goldstein—formerly a longtime not-for-profit hospital ratings analyst for Moody’s—recently explored the evolving perspectives of healthcare leaders on how to best balance credit ratings with other key strategic imperatives, including the rising importance of health equity

As organizations consider how to respond to rising rates, one option is introducing capital structure risk: using floating rate products, put bonds, or other structures that move debt to a lower cost point on the yield curve in exchange for assuming risk.

Almost everything that not-for-profit hospital ratings analysts evaluate can be measured, quantified, and databased. Except for one: governance.

Hospitals and health systems are feeling the full effects of the Great Resignation as labor expenses climb despite lower staffing levels. As a result, hospitals are paying higher wages to compete for qualified personnel. Read the Winter 2022 Kaufman Hall Report for strategies for improving recruitment and retention.

Healthcare issuance has been relatively modest over the past several weeks, with a mix of tax-exempt and taxable transactions across the credit curve. Transactions continue to get done...

“Will I be downgraded if my organization’s margins decline because I am investing for its future?” This is one of the most common questions that provider organizations ask ratings...

As the COVID crisis moderates, the question for most organizations is whether to maintain lines of credit. The answer requires clarity on the purpose of these facilities today.