Standard & Poor's Ratings Services said it has lowered its long-term rating on La Vernia Higher Education Financial Corp., Texas' $8 million series 2009 education revenue bonds, issued on behalf of Winfree Academy Charter Schools to BB-minus from BB.
The outlook is stable.
The downgrade reflects our assessment of Winfree's continuing enrollment declines with a highly transient student population, limited operational flexibility, and a decline in liquidity.
Municipals are seeing losses of 1.82% in December, which has dragged down overall gains to just 0.68% for 2024, per the Bloomberg Municipal Index.
Silver Point says it has done nothing wrong, and has retained prominent legal figures for its defense.
The bank's termination of its membership in the Net-Zero Banking Alliance ended a state review that could have led to a ban for governmental contracts.
The San Diego County-based hospital system's financial woes were dire enough to earn junk ratings from Fitch Ratings, Moody's Ratings and S&P Global Ratings earlier this year. Fitch further downgraded the already junk ratings on Wednesday.
Bond issuers are establishing common reserve funds to spur economic growth while also generating income, but risk is involved.
The Trump administration may cut the Affordable Care Act and Medicaid, which threatens to land on a hospital sector still recovering from the COVID-19 pandemic.
