ACTION 8 UPDATE: Montgomery’s Jackson Hospital has received additional funding to allow it to remain open, at least until later this year.
As Action 8 News has reported, the hospital filed for Chapter 11 bankruptcy protection in February. Last year, it missed a $60 million interest payment on bonds. S&P Global said it lowered the hospital’s long-term rating to ‘D’ from ‘CC’ on The Medical Clinic Board of the City of Montgomery’s series 2015 bonds. S&P Global says that it understood that Jackson’s liquidity is very thin and insufficient to meet the bondholders’ demand for full payment.
This week, a federal bankruptcy judge in Montgomery has heard more details about Jackson Hospital’s financial plight…