Securus Announces Pay Down of Debt
Press Release Jan 02, 2011
01/31/2011 - Dallas, TX —/PRNewswire/-- Securus Technologies, Inc., a leading provider of inmate communications services, today announced that it has reduced its debt by $25M, effective January 28, 2011. This reduction continues a trend of the company reducing its debt load. Securus now has a 4x net debt to EBITDA ratio versus a 7x ratio in 2007.
Securus has performed well financially and has taken this opportunity to strengthen its balance sheet to position itself for further growth. The company expects to receive ratings upgrade from rating agencies due to its strong performance and its move to pay off a portion of its debt early.
Richard Smith, Securus’ President and CEO commented, “I am pleased that we paid off some of our debt years before our indenture agreement requires. This shows that we are confident in our business and have good financial performance now and in the future. Our conservative balance sheet is much stronger than that of our key competitors – this allows us to continue to reinvest in our business and expand our capabilities that we deliver on our Secure Call Platform – the best inmate calling platform in the industry.”
Securus Technologies, Inc. is one of the largest suppliers of detainee communications and information management solutions, serving approximately 2,400 correctional facilities and over 850,000 inmates nationwide. A recognized leader in providing comprehensive, innovative technical solutions and responsive customer service, Securus’ sole focus is the specialized needs of the corrections and law enforcement communities. Securus is headquartered in Dallas, TX, with regional offices in Carrollton and Allen, TX and Atlanta, GA. For more information please visit the Securus website at www.securustechnologies.com.