Rural/Metro watching capital markets for opportunity to address bank debt maturities

By Sara Rosenberg

New York, Sept. 9 - Rural/Metro Corp. is focused on its credit facility maturities since the tranches come due within the next two years and is actively monitoring the capital markets so that it is prepared to move quickly to address the situation, company officials said in a conference call on Wednesday.

The company's term loan B and letter-of-credit facility mature in March 2011 and its revolver matures in March 2010.

Although it is a situation that is being watched closely, the company did not have anything to communicate during the call regarding a specific transaction.

Also on Wednesday, Rural/Metro revealed that it repaid $10 million of its term loan B, reducing the balance to $56 million.

Company officials said that they are committed to deleveraging the balance sheet as strong cash flows allow for debt reduction.

Rural/Metro is a Scottsdale, Ariz.-based provider of ambulance and private fire protection services.

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