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HealthSouth in default on $1.2B

March 27, 2003 at 3:44 PM

BIRMINGHAM, Ala., March 27 (UPI) -- HealthSouth Corp. said Thursday it received notice from J.P. Morgan Chase that it's in default under its $1.25 billion credit facility. The company, which is in negotiations with lenders, said it is banned from making $367 million in interest payments to its bondholders.