Ambulance Co. Rural/Metro's $75M DIP Loan Gets Interim OK

Law360, Wilmington (August 6, 2013, 9:05 PM EDT) -- Bankrupt ambulance company Rural/Metro Corp. won interim approval Tuesday of a $75 million post-petition loan the private equity-owned firm hopes will transport it through Chapter 11 as it tries to restructure more than $700 million in debt by year's end under a negotiated deal with creditors.

With the interim approval signed by U.S. Bankruptcy Judge Kevin J. Carey, Rural/Metro will have access to $40 million of the debtor-in-possession credit facility from a group of prepeition lenders led by Credit Suisse AG, and will be able to...
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