Community Health amends facility covenants, adds pricing protection

By Marisa Wong

Madison, Wis., Aug. 12 - Community Health Systems, Inc. said it entered into an amendment to its existing credit agreement dated July 25, 2007 for increased flexibility to incur debt.

The amendment, effective as of Aug. 12, modifies the maximum leverage ratio and secured leverage ratio covenant levels under the credit agreement, according to a press release.

In addition, the amendment includes pricing protection for some extended term loans, specifying an increased margin in some instances, and provides for a total leverage-based step-up to the applicable margin of the extended term loans and the non-extended term loans. Pricing under the credit agreement will otherwise remain unchanged.

The hospital operator is based in Nashville.

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