Newsletter Articles | October 31, 2002
Magellan Unable to Refinance Debt
OPEN MINDS, The Behavioral Health & Social Service Industry Analyst
Industry News
On September 30, 2002, Magellan Health Services Inc. officials stated that the company had not secured refinancing of its bank debt and warned that it would not have the funds if early repayment is demanded, according to the Baltimore Sun. In an official press release, Magellan stated it expected not to be in compliance with the terms of its bank loans when it files results in January for its fourth quarter and fiscal year that ended on September 30. Unless . . .