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recently restructured most of its heavy debt load as it facer payingnearly $500 million in cash obligations through the end of 2011. The privately-helx company said a group of lenders agreed to extend the maturitty dateon $325 million worth of debt from September 2011 to June according to SEC filings. In addition, revolvint credit lenders agreed to extend the maturityon $40.p million due March 1, 2010 to March 1, 2012. Atlantifc Broadband has about 287,000 cable, 131,00 0 residential high-speed Internet and 55,000 residential telephone In 2003, the company struck a deal to purchasse cable systemsin Pennsylvania, Florida, Maryland, West Delaware and New York from St. Louis-based .
The purchasee price was about $738 million, and the deal closeed the following year. To help fund the Atlantic Broadband receiveda $305 million term loan and a $90 millionj revolving credit facility with a group of lenders that included Merrillp Lynch, (NYSE: GE), Societe Generale and Calyon Corporatr and Investment Bank. At the end of the company had total debt outstandingof $603.7 million, including capital lease obligations. The companh generated net incomeof $10.66 million in the first quarter, comparesd with a year-earlier net loss of $1.05 million. Cable servic revenue in the quarter increasedto $73.8 million, up from $67.
2 million in the year-earlier period, according to regulatorgy filings.
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