Billing Services reduces debt again

Shares of Billing Services Group, a payment and financial risk management provider, rose 9% after it repaid $2m of its senior debt yesterday. The group, which provides solutions to the telecommunications industry, said at the close of business on 31 August 2011, total outstanding senior debt has been reduced to $44m. The announcement follows July's statement that it had repaid $4.4m of its senior debt and entered into a new credit facility with reduced pricing. In a statement last month Billing Services said it remains committed to paying down the company's debt as quickly as the financial performance of the business allows. ---CJ