Montgomery’s Jackson Hospital & Clinic has named a chief restructuring officer after the hospital defaulted this week on a bond payment.

The Bond Buyer is reporting that Allen Wilen, partner at Eisner Advisory Group, will serve in the role.

Bond trustee UMB Bank, N.A., announced the move.

Wilen serves as the national director of the Financial Advisory Services Group and oversees a team of about 100 involved in litigation and restructuring.

During his career, he has been named by both federal and state courts as a receiver, special fiscal agent, liquidating trustee, examiner and provisional director.

The hospital had no comment on the bond default when reached through an official spokesperson.

Earlier this week, Jackson Hospital defaulted on about $60 million worth of Medical Clinic Board of the City of Montgomery series 2015 bonds, which comprises 86% of the hospital’s long-term debt, the S&P said in a statement explaining why it lowered the hospital’s rating to “D” from “CC.”

The bondholder requested full payment after the hospital failed to make interest payments. The Montgomery hospital’s liquidity, according to S&P, “is very thin and insufficient to meet the bondholders’ demand for full payment.”

“The ‘D’ rating reflects that Jackson missed its most recent interest payment to bondholders on the series 2015 bonds, which was due on Sept. 3, 2024,” said S&P Global Ratings credit analyst Marc Arcas in a statement. “The ‘D’ rating, by definition, indicates that the obligation is in default or in breach of an imputed promise, and this rating category is used when payments on an obligation are not made on the due date.”

Bloomberg reported Jackson cited inflation and high labor costs for its financial situation.