Abstract: The issue of radiant spherical black holes being in stable thermal equilibrium with their radiation bath is reconsidered. Using a simple equilibrium statistical mechanical analysis incorporating Gaussian thermal fluctuations in a canonical ensemble of isolated horizons, the heat capacity is shown to diverge at a critical value of the classical mass of the isolated horizon, given (in Planckian units) by the {it microcanonical} entropy calculated using Loop Quantum Gravity. The analysis reproduces the Hawking-Page phase transition discerned for anti-de Sitter black holes and generalizes it in the sense that nowhere is any classical metric made use of.
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