CHS shares sink on report of restructuring adviser hire: 4 things to know

Franklin, Tenn.-based Community Health Systems has hired Lazard as a restructuring adviser, according to Reorg Research.

Here are four things to know.

1. CHS shares tumbled midday March 13 after the Reorg Research report was released.

2. CHS shares ended the day down 9.8 percent at $4.49 per share.

3. According to the Reorg Research report, attorneys from Davis Polk had a call with more than a dozen of CHS' loan lenders March 9 to discuss potential restructuring options the company could pursue.

4. Sources told Reorg Research the lenders do not plan to challenge CHS' latest amendment to its debt.

Access the full Reorg Research report here

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