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HealthSouth Lands $715 Million Refinancing Deal

March 22, 2005

HealthSouth completed a $715 million refinancing arrangement that the company's chief executive called "another significant step" toward rectifying 18 months of fraud-related issues. Aside from boosting HealthSouth's financial flexibility -- compromised in the last 18 months by civil suits resulting from a $2.7 billion accounting fraud perpetrated at the company during its prior administration -- the refinancing immediately cuts almost $1 million in annual banking fees.

Birmingham Business Journal (http://birmingham.bizjournals.com/birmingham/stories/2005/03/21/daily5.html)