GTSI repays $10 million subordinated term loan

By Sara Rosenberg

New York, Feb. 27 - GTSI Corp. has paid in full its $10 million subordinated secured term loan agreement with Crystal Capital, according to a news release.

"The decision to retire this debt out of operating cash flow indicates that GTSI enjoys a strong balance sheet resulting from our enhanced business focus on delivering strategic enterprise infrastructure technology solutions and professional services to our customers," said Jim Leto, chief executive officer, in the release.

"As a result of this action, GTSI has no outstanding debt and will continue to drive margin expansion and reduce operating expenses," Leto added.

GTSI is a Chantilly, Va.-based enterprise services provider to government.

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