Waste Services amends loan to increase rate, change covenants

By Sara Rosenberg

New York, Oct. 4 - Waste Services Inc. amended its $160 million senior credit facility, increasing the interest rate to Libor plus 450 basis points from Libor plus 325 basis points and modifying the financial covenants.

"We are pleased with the support from our senior lending group during this process and believe that this permanent amendment to our senior credit facility will provide the flexibility and liquidity necessary to execute our business plan," chairman and chief executive officer David Sutherland-Yoest said in a company news release.

Waste Services is a Burlington, Ont., integrated solid waste services company.

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