Tuesday, May 18, 2021

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S&P GLOBAL RATINGS affirmed its B+ bond rating for Care New England and upgraded its outlook from negative to developing. The rating agency cited the health system's definitive agreement to merge with Lifespan Corp. as a major contributing factor.

S&P improves outlook on CNE bond rating, citing planned merger with...

PROVIDENCE – S&P Global Ratings revised its outlook on R.I. Health and Education Building Corp.’s bonds issued to Care New England Health System from...

National ratings agencies affirm R.I. credit rating ahead of bond sale

PROVIDENCE – Rhode Island is well-positioned for the upcoming sale of its general obligation bonds after receiving stable ratings from all three major credit...
STILL GOING STRONG: John Bellone, owner of The Breezeway Resort, The Hotel Maria, pictured, and Maria’s Seaside Cafe in Westerly, says in his 50 years as a customer of The Washington Trust Co., he’s never deferred a loan payment and has continued to meet monthly payments for the mortgages on his commercial properties throughout the pandemic, thanks to a strong business in a limited season. / PBN PHOTO/MICHAEL SALERNO

Banks on higher alert for credit weakness

In his 50 years as a customer of The Washington Trust Co., John Bellone has never deferred a loan payment. Not through the 2008...

S&P downgrades Care New England’s bond rating, projects negative outlook

PROVIDENCE – S&P Global Ratings on June 30 downgraded Care New England’s bond rating, citing ongoing financial problems exacerbated by the COVID-19 pandemic, WPRI-TV...
PROVIDENCE CITY Councilman Seth Yurdin has resigned from his post. / PBN FILE PHOTO/CHRIS BERGENHEIM

Moody’s, S&P assign stable ratings to Providence debt, CIP bonds

PROVIDENCE – After upping its ratings in 2019, Moody’s Investors Service and S&P Global Ratings held steady in their latest ratings for Providence’s general...

FM Global receives A+ credit rating

JOHNSTON – FM Global, a global commercial and industrial property insurer, received an A+ financial strength rating and stable outlook from AM Best, according...

FM Global creates new executive role for ‘diversity and inclusion’

JOHNSTON – FM Global, one of the world’s largest commercial property insurers, has appointed Sonserae Toles as vice president, inclusion, a new role at...
PROVIDENCE'S GENERAL Obligation bonds rating was upgraded to a BBB+ from a BBB and assigned a stable outlook by S&P Global Ratings. / PBN FILE PHOTO/ CHRIS BERGENHEIM

S&P upgrades Providence general obligation rating

PROVIDENCE – S&P Global Ratings has upgraded the city’s general obligation debt rating to a BBB+ from a BBB, Mayor Jorge O. Elorza announced...
CONNECTICUT LAWMAKERS CLOSED a $3.7 billion gap in the state's $43 billion two-year budget while sparing residents an income-tax increase. The budget is getting mostly positive reviews from investors. Above, the Travelers Property and Casualty headquarters in Hartford, Conn. / BLOOMBERG FILE PHOTO/GEORGE RUHE

Connecticut closes budget deficit without income-tax hike

NEW YORK – Connecticut’s $43 billion two-year budget, which spares residents an income-tax increase, is getting mostly positive reviews from investors. The budget, approved by...

R.I. behind on funding post-employment benefits, but better than rest of...

PROVIDENCE – Rhode Island’s “other post-employment benefit liabilities,” which typically consist of retiree health plans, are only 16.5 percent funded, still the highest in...

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