Healthways gets more breathing room on leverage
Healthways executives recently amended their revolving and term debt package with their SunTrust-led bank group to give them more time to lower the company's leverage ratios. Previously, the wellness services provider had until June 30 of this year to stairstep its way from a leverage ratio of 4:1 down to 3.5:1. Since last week, the banks' covenants say it has until March of next year to do so. CEO Ben Leedle recently said the first half of this year will not produce much growth at Healthways (Ticker: HWAY) but that profits should ramp come summer.




