Fitch drops Appalachian Regional Healthcare bonds

Fitch Ratings said it downgraded to BB- from BB+ its rating on $74.51 million series 1997 Kentucky Economic Development Finance Authority refunding and improvement revenue bonds issued for Appalachian Regional Healthcare, Inc.

The outlook is stable.

The downgrade reflects the effect of two strikes at Appalachian Regional Healthcare by two separate unions within the past 15 months. The second strike, a nurses' strike that lasted from October 2007 through December 2007, cost more than $20 million.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.