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Rural/Metro Successfully Completes Financial Restructuring Emerges With Strengthened Balance Sheet and Enhanced Financial Flexibility

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© Marketwire 2014
2014-01-01 01:01:02 -

SCOTTSDALE, AZ -- (Marketwired) -- 12/31/13 -- Rural/Metro Corporation, a national provider of private ambulance and fire protection services in 21 states and nearly 700 communities, today announced its emergence from Chapter 11 as a reorganized company.

"Today marks the successful completion of our financial restructuring and the start of a new chapter for our Company," said Scott A. Bartos, President and Chief Executive Officer of Rural/Metro. "As a stronger and more competitive company, we will continue to invest in infrastructure and technology and advance our commitment to providing state-of-the-art medical transportation and fire services. Importantly, I want to thank all Rural/Metro employees, whose tireless efforts have been instrumental to our successful restructuring. I am excited to begin 2014 as the new and improved Rural/Metro."

As previously announced, Rural/Metro's Plan of Reorganization was confirmed by the U.S. Bankruptcy Court for the District of Delaware on December 17, 2013. Rural/Metro has met all closing conditions of its Plan of Reorganization. Through its financial restructuring, Rural/Metro has reduced its financial indebtedness by approximately 50 percent. In addition, Rural/Metro's bondholders will provide the Company with a new equity capital infusion of $135 million to help position the Company for renewed growth.

Willkie Farr & Gallagher LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal counsel, Lazard Frères & Co. L.L.C. is serving as investment banker, and Alvarez & Marsal and FTI Consulting, Inc. are serving as financial advisors to Rural/Metro.

About Rural/Metro

Rural/Metro Corporation is a leading national provider of 911-emergency and non-emergency interfacility ambulance services and private fire protection services, operating in 21 states and nearly 700 communities. For more information, visit : .


Andrew Siegel / Dan Moore
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449 : docid: 131078923.nitf -->

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