Replies to post #568 on Community Health Systems, Inc. (CYH)

[johnhancoque]

Cant log in to read this wsj article as im not a member

[ulyssesgrant]

Read the WSJ Pro piece. Very positive development IMO since it gives CYH more breathing room and significantly reduces risk of near-term bankruptcy.

Basically, senior lenders agreed to amend credit agreement to allow CYH to raise new junior secured debt to refinance bonds coming due between 2019 and 2020. My guess is they'll use asset sales this year to repay the term loans (secured debt) coming due in 2019, which would then give them even more flexibility and also would significantly reduce the chance that senior lenders move to withhold CVR payouts.