Standard Parking amends loan, providing more acquisition flexibility

By Sara Rosenberg

New York, Oct. 30 - Standard Parking Corp. amended its credit facility, increasing the purchase price limits for acquisitions and reducing lender approval requirements for transactions of less than $5 million, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

In addition, the amendment clarifies the impact of acquisitions on the fixed-charge coverage ratio calculation.

The amendment was completed on Oct. 29.

Bank of America and LaSalle Bank are co-administrative agents on the deal.

Standard Parking is a Chicago-based provider of parking facility management services.

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