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Tenet stock drop reflects concerns about hospital's turnaround

CNNMoney.com, December 5, 2008

Tenet Healthcare Corp. has lost two-thirds of its value since posting disappointing financial results and lowering its outlook in November. Wall Street remains concerned that Tenet's high debt levels, a deteriorating economy, delays in key asset sales, high supply costs, and declining commercial volumes are slowing the company's turnaround progress. Tenet has nearly $4.8 billion in long-term debt, with $1 billion maturing in three years and no other notes maturing before then.