Montgomery’s Jackson Hospital missed its most recent interest payment to its bondholders, prompting the reduction of its credit rating. The payment was due on Tuesday.
Montgomery ’s Jackson Hospital missed its most recent interest payment to its bondholders, prompting the reduction of its credit rating.) - The Medical Clinic Board of the City of Montgomery
The bonds were issued in 2015 for Jackson Hospital and Clinic. S&P Global said it also removed the rating from CreditWatch, where it had been placed with negative implications in June. S&P Global also said the majority of Jackson’s long-term debt consists of the 2015 bonds, “which are secured by revenue and mortgage pledges on a number of properties from the obligated group.” It noted that group “consists solely of the hospital.”
When that decision was announced it was hailed by the hospital as a way “to remain a not-for-profit and remain true to its mission and commitment to improving the health of all members of the community by providing superior, patient-centered, and cost-effective care in a safe, compassionate environment.”
Montgomery Alabama Wsfa Wfsa Hospital Default Alabama Hospitals Credit Lowered
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