Covenant financial report from Fitch mostly positive - KCBD NewsChannel 11 Lubbock

8/9/09

Covenant financial report from Fitch mostly positive

Posted:

By James Clark | email

LUBBOCK, TX (KCBD) - This past week NewsChannel 11 reported that Covenant C.E.O. Melinda Clark resigned.   Since then the Fitch bond rating agency released a report of Covenant's financial health.  

The report is mostly positive, saying 13 of Covenant's 14 hospitals in West Texas and Orange County California are profitable.   It also says Covenant's earnings (EBITDA) are 7.6%, which is down somewhat.  

Fitch also says that Covenant is on a $100 million improvement plan that is predicted to return Covenant to higher profitability in the future.  (CLICK HERE) to see the Fitch news release.

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