Articles

  • 1 week ago | bizjournals.com | Mary Serreze

    The integration of the newly acquired hospital assets, purchased from the bankrupt Steward Health Care, “presents execution risks,” especially when it comes to cash flow and liquidity, Fitch said. Fitch Ratings has given a BBB+ investment-grade rating to Brown University Health’s new revenue bonds, but assigned a “negative” outlook, indicating the potential for a future downgrade.

  • 1 week ago | bizjournals.com | Mary Serreze

    Gary Higgins / Boston Business JournalPreview this article 1 minThe bank is primed for dealmaking when the economy settles down, said CEO Bruce Van Saun. Citizens Financial Group says it's positioned to ride out market uncertainty and prosper in 2025 due to its strong balance sheet, pent-up M&A pipeline, diversified revenue stream, and quality lending portfolio.

  • 1 week ago | bizjournals.com | Mary Serreze

    Azra Pravdic via LinkedInPreview this article 1 minAzra Pravdic has advised global clients in the financial services sector. A partner at McKinsey & Co., the global consultancy, will soon join Citizens Financial Group in a newly created strategy role. Azra Pravdic has been named head of enterprise strategy at Providence-based Citizens (NYSE: CFG), the financial institution said Monday.

  • 1 week ago | bizjournals.com | Mary Serreze

    Preview this article 1 minBrown says research programs in artificial intelligence, quantum science and nuclear technology are at risk. Brown University has joined a federal lawsuit challenging a decision by the U.S. Department of Energy to cap indirect cost reimbursements for federally funded university research at 15%.

  • 1 week ago | bizjournals.com | Mary Serreze

    Preview this article 1 minShares of the biotech have cratered, but it continues to express optimism. Ocean Biomedical (Nasdaq: OCEA), the debt-laden Brown University spinoff, ended 2024 with zero revenue and net loss of $9.48 million. The biotech startup ended last year with $902,000 in assets, compared to $5.5 million in 2023. As of Dec. 31, 2024, it had no unrestricted cash on hand, and held $16.3 million in short-term debt.

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Mary C. Serreze
Mary C. Serreze @maryserreze
25 Nov 24

RI lawyer facing professional misconduct investigation is disbarred https://t.co/ygjFbNymPN via @BF_Providence

Mary C. Serreze
Mary C. Serreze @maryserreze
5 Nov 24

More problems at Revolution Wind. This time it’s “monopile refusal.” Ørsted logs another impairment on its Southern New England offshore wind project. - Providence Business First - https://t.co/BEvi91J0wl via @BF_Providence

Mary C. Serreze
Mary C. Serreze @maryserreze
29 Oct 24

The City of Woonsocket, R.I., behind the curve in filing audited financials, has lost its Moody's bond rating. https://t.co/ljb0dCTxf5