Bank calls in CMHS loan

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Hospital has one year to repay $5.7M

By Mike Wright

SunTrust Bank has informed Citrus Memorial Health System it has one year to pay the remaining $5.7 million owed on a 2006 bond.

The notice comes four weeks after CMHS took a bond-rating hit for the second straight year from Moody’s Investors Services.

Bill Grant, attorney for the Citrus County Hospital Board, or CCHB, said the hospital is also being pressured by Compass Bank to pay the remaining $8 million on a 2008 bond. CMHS spokeswoman Katie Mehl said that isn’t the case.

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