Posted: 6:50 P.M
Rural Metro Corporation announced an agreement with its lenders was made to reduce the company's debt by about 50%.
Although the company did not comment on the amount of its debt, Bloomberg News reports it is about $735 million. Rural Metro Corporation, a national provider of private ambulance and fire protection services says the the financial restructuring will help them meet the needs of customers, patients, and communities.
A spokesperson for the corporation tells News 11 services in our local area will not be affected. They say patients across the country will continue to receive the best quality service possible.
Scott A. Bartos, Rural/Metro's new president and chief executive officer released a statement saying "This agreement is good news for rural/metro and for the clients and communities we serve. We have a solution that keeps our operations moving forward while cutting our debt in half."