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Article: Medical center plan by month's end, S&P says.
- Article from:
- Westchester County Business Journal
- Article date:
- February 23, 2004
- Author:
CopyrightCOPYRIGHT 2004 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Westchester County expects cash-strapped Westchester Medical Center to present to the county and state a complete financial recovery "work-out" plan by the end of the month, according to a credit rating "agency--as the hospital faces the prospect of running out of cash as soon as March 12.
"The county reports that the work-out plan on the Westchester County Healthcare Corp. will be presented to the county and state by the end of this month," Standard & Poor's said in its Feb. 17 statement reaffirming its AAA bond rating for Westchester's-general obligation debt.
However, neither Westchester County nor the medical center would confirm that at deadline. ...