Oroville Hospital in California Pushed to Technical Bond Default

Oroville Hospital, a California non-profit, fell short of its annual debt-service coverage ratio last year, pushing bonds issued on its behalf into technical default, according to a regulatory filing citing draft financial statements.

• Revenue bonds were issued by city of Oroville in 2018 and 2019
• Oroville Hospital says it expects to obtain all necessary waivers and/or forebearances but “there can be no assurance” it will obtain them, according to filing

NOTE: Earlier, Record Muni Impairments So Far This Year Are Led by Hospitals

To contact the reporter on this story:
Lauren Coleman-Lochner in New York at llochner@bloomberg.net

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