It looks as though Norman Regional Health System (NRHS) will get a $40 Mln lifeline after defaulting on its Sept. 1 debt service payment.
The missed payment came just one day after S&P lowered NRHS’s Series 2016, 2017 and 2019 revenue bonds to ‘CC’ from ‘CCC’ and placed them on CreditWatch with negative implications. S&P said a nonpayment or late payment was a “virtual certainty” and warned that a missed or delayed September 1 payment would result in a downgrade to ‘D.’
And they did.
On Sept. 9, S&P lowered its long-term rating to ‘D’ (default) from ‘CC’ and removed the rating from CreditWatch.
S&P said, “The outlook is not meaningful.”… Read More
Inside This Edition
- People & Places
- Illinois Scores Upgrades and Positive Outlook
- Bond Infusion Helps Norman Hospital Off Life Support
- The Bond Buyers
- TRUMP’s 1BBA Launches Tax-Exempt Bonds For Space Ports
- Racial Discrimination Could Cost Private Schools
- Tax-Exempt Status
- Smith’s Bolivia’s Sovereign and E-Mobility Gradings