Moody's rates Radiation Therapy amended loan Ba2

Moody's Investors Service said it assigned a Ba2 rating to Radiation Therapy Services, Inc.'s $90 million partially amended and extended revolving credit facility due 2014. In addition, Moody's affirmed the company's other ratings, including a B2 corporate family rating.

The outlook remains negative.

Moody's said the amend and extend transaction improves the company's liquidity profile as it includes a $50 million increase in revolver capacity to $125 million, partial extension of the revolver maturity date and loosening of financial covenants.

The maturity of $90.1 million of the new $125 million revolver amount was extended to Feb. 21, 2014 from Feb. 21, 2013. The remainder, $34.9 million, comes due on the pre-amendment maturity date of Feb. 21, 2013, according to the agency.

Additionally, the amend and extend included a 50 basis points increase in interest rates, as well as modifications to the permitted investment basket and permitted indebtedness basket. The company entered into the amendments on Sept. 29 and Sept. 30.

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