Fitch cuts West Penn Allegheny Health System revs to C

Fri Jan 11, 2013 10:54am EST

Jan 11 (Reuters) - Fitch Ratings on Friday cut Pennsylvania's West Penn Allegheny Health System revenue bonds to C from CCC, affecting about $726 million of debt.

Fitch cut the rating because it believes West Penn will still have to restructure its debt to stave off insolvency, despite a possible agreement with bondholders and insurer Highmark Inc. to reduce debt.