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Home Health & Hospice Week

Industry Note:

Restructured Debt Agreement Boosts National Chain

Published on Fri Mar 09, 2012

Gentiva Health Services Inc. has "obtained an amendment to its senior secured credit agreement to increase financial covenant flexibility through the remaining term of the facility," the Atlanta-based national chain reports. The debt restructuring was necessitated following a massive $474 million loss in the third quarter of 2011 and reduced earnings last quarter. Gentiva completed the first part of the debt restructuring strategy last fall. The "amendment represents the conclusion of a two-part strategy," the company says in a release. Standard & Poor's Ratings Services has removed Gentiva from its negative watch, reports the Wall Street Journal. "Its outlook is now stable," the newspaper says.
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