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The system is incorporating some floating-rate risk into its fixed-rate debt portfolio to allow for strategic flexibility after its new hospital campus opens.
The county began exploring a new facility eight years ago. Studies concluded the current facility was ill-equipped to deal with overcrowding, in poor physical condition and its design fell short of current standards.
Illinois' $2.45 billion GO sale should attract a wider investor audience with the higher ratings as the state seeks to raise new money for capital projects, fund ongoing pension buyout programs, and refund some debt for present value savings.
School districts must sell bonds based on their own ratings or with private insurance because the triple-A-rated Permanent School Fund's capacity is nearly maxed out.
Views from CreditSights' Patrick Luby, senior municipal strategist, and John Ceffalio, senior research analyst, on everything from mutual fund flows, the evolution of the retail investor, municipal bond volume and important credit implications from transit, higher ed, airports, high-yield and more. Lynne Funk hosts.