Moody's Analyzes Not-for-Profit Governance Issues

From the Sarbanes-Oxley Act Task Force over at the American Health Lawyers Association comes this link to Moody's Investor Service report, "Governance of Not-for-Profit Healthcare Organizations" (PDF).  As described by the Task Force in their e-mail alert:

When the AHLA published Tax-Exempt Bonds: Is Sarbanes-Oxley Relevant? earlier in 2005, the authors, Paul Gilbert and Mark Pickrell, argued that corporate-governance issues should be relevant, and would become increasingly relevant, for not-for-profit bond issuers and other bond-market participants. Moody's Special Comment bolsters their argument that corporate-governance issues are being examined by ratings agencies and will, therefore, remain of significance to bond issuers for the foreseeable future. The Moody's report also shows that, although this ratings agency is explicitly examining corporate-governance issues in its bond-issuer research, the quantifiable effect of specific corporate-governance practices on issuer ratings, and on the interest rates of specific bond issuances, is yet to be determined.

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