Executives at Bethesda Healthcare System said they have resolved a situation with their bond lenders where the hospital operator was found in violation of its debt agreement.
The Boynton Beach-based non-profit send a notice to bondholders on March 17 that is was in violation of its bond covenants because its debt service coverage ratio was too low. Under its Series 2010A bonds, this ratio of income available for debt service to actual debt payments must be 1.25. However, this ratio was 1.1 at the…
Executives at Bethesda Healthcare System said they have resolved a situation with their bond lenders where the hospital operator was found in violation of its debt agreement.
The Boynton Beach-based non-profit send a notice to bondholders on March 17 that is was in violation of its bond covenants because its debt service coverage ratio was too low. Under its Series 2010A bonds, this ratio of income available for debt service to actual debt payments must be 1.25. However, this ratio was 1.1 at the…