The tax-exempt market has been going through considerable soul-searching to determine what federally guaranteed hospital issues are worth, according to analysts and investors.

In the wake of a series of downgrades on tax-exempt issues backed by Federal Housing Administration mortgage insurance and the extraordinary call of a $54 million deal, market participants are reassessing the impact of FHA insurance upon specific tax-exempt issues and finding it prudent to examine "the skull beneath the skin."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.