June 2, 2010 (FinancialWire) – Cross Country Healthcare, Inc. (NASDAQ: CCRN) said it has refinanced its revolving loan credit facility and extended the maturity date by around three years. The company said it also decided to reduce the aggregate principal amount of the revolving credit facility to $50 million.

According to Cross Country, the revolving credit facility was undrawn upon the closing of the refinancing.

Cross Country CFO Emil Hensel said that his company chose to extend the revolving credit facility, which was set to expire later this year in November, to coincide with the September 2013 maturity date of its existing term loan facility.

He added that the extension has no impact on the interest rate spreads on Cross Country’s existing term loan and it gives the firm greater financial flexibility for an additional three years.

The revolving credit facility will be used to provide ongoing working capital and for other general corporate purposes, including acquisitions.

Florida-based Cross Country Healthcare offers staffing and outsourcing services to the healthcare market that include nurse and allied staffing, physician staffing, clinical trials services and other human capital management services.

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