S&P Upgrades BioMed Realty Trust, Inc. (BMR) to 'BBB' Apr 15, 2014 05:25PM

BioMed Realty Trust, Inc. (NYSE: BMR) announced that its investment grade corporate credit rating from Standard & Poor's Ratings Services ("S&P") has been upgraded from BBB– to BBB. BioMed Realty was the first real estate investment trust dedicated to the life science industry to receive investment grade corporate credit ratings from S&P and Moody's Investors Service ("Moody's") in April 2010. The company received positive outlooks from S&P and Moody's in June 2013 and March 2014, respectively.

"We view our investment grade corporate credit rating as one of the key drivers of our capital strategy and a competitive advantage in pursuing strategic growth opportunities," said Greg N. Lubushkin, Chief Financial Officer of BioMed Realty. "We are pleased that S&P has upgraded our rating to BBB, which further enhances our long-term financial flexibility as we continue to build on our proven track record of creating value for our tenant partners and stockholders."


Nu Skin Enterprises, Inc (NUS) Enters $50M Loan Agreement; Borrowed $34M from LoC Apr 15, 2014 05:05PM

On April 9, 2014, Nu Skin Enterprises, Inc. (NYSE: NUS) entered into a loan agreement with Bank of America, N.A. for a 364 day revolving line of credit with a commitment amount of $50.0 million. As previously disclosed in the Company's periodic filings, the Company entered into a similar loan agreement in September 2013 with Bank of America, N.A. for a 364 day revolving line of credit with a commitment amount of $50.0 million. To date, the Company has borrowed approximately $34 million under the September 2013 line of credit. The Company may use the proceeds of the loans for general business purposes and stock repurchases. The loan agreements set forth the method for determining applicable interest rates and fees, include customary covenants and default provisions and require repayment of any outstanding principal, interest or other charges in full on or before the expiration date of the respective loan agreement. In addition to the revolving lines of credit, Bank of America, N.A. provides other banking services to the Company.


Eagle Bulk Shipping (EGLE) Announces Extension of Forbearance Apr 15, 2014 05:03PM

Eagle Bulk Shipping Inc. (Nasdaq: EGLE) (the "Company" or "Eagle") announced today that the Company has entered into an amendment to its previously reported Waiver and Forbearance Agreement in order to facilitate continued discussions between the Company and the Lenders under its Fourth Amended and Restated Credit Facility (the "Credit Agreement").

The amendment to the Waiver, which was originally announced on March 20, 2014, extends from April 15, 2014 to April 30, 2014 the milestone requiring the Company and the Lenders constituting "Majority Lenders" under the Credit Agreement to (i) agree on terms of a restructuring of the obligations outstanding under the Credit Agreement and (ii) execute a binding restructuring support agreement or similar agreement documenting such agreed-upon terms.

Under the terms of the Waiver, the Lenders agreed to waive until June 30, 2014 certain potential events of default, subject to the Company's compliance with certain terms, conditions and milestones as set forth in the Waiver. The Waiver remains in effect on substantially the same terms and conditions, with certain modifications as set forth in the amendment.

While Eagle Bulk is continuing discussions with its Lenders as part of the Waiver, the Company cautioned that there is no assurance such discussions will result in a comprehensive resolution. Additional discussion regarding the impact of a failure to reach a consensual resolution with the Lenders can be found in the Company's Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission on March 31, 2014.


Boston Scientific Corp. (BSX) Reports FDA Approval of Latest Heart Failure Devices, Defibrillators Apr 15, 2014 04:47PM

Boston Scientific Corporation (NYSE: BSX) has received FDA approval for its latest generation of defibrillators and heart failure devices designed to advance patient care. The newly approved devices include the DYNAGEN MINI and INOGEN MINI ICDs, as well as the DYNAGEN X4 and INOGEN X4 CRT-Ds.

The X4 line of quadripolar CRT-Ds offers 70 percent more pacing options to address high capture thresholds and phrenic nerve stimulation effectively, along with the largest battery capacity in the industry. These newly approved devices continue the Boston Scientific history of industry-leading projected longevity and a six-year CRT-D warranty.

Extending the Boston Scientific portfolio of defibrillators, the ICDs in the MINI family are the world's smallest and thinnest devices and are designed for patient comfort. The small dimensions of the MINI ICD are up to 20 percent smaller by volume and up to 24 percent thinner than competitive devices from other manufacturers.[i]

"The tiny size of the MINI ICD provides a real benefit to some patients, in particular those with a smaller frame," said Prof. Dr. Hans-Joachim Trappe from University Marien Hospital Herne, Hospital of Ruhr-University, Bochum, Germany. "The MINI ICD not only improves patient comfort, but also provides these patients with innovative technology to help treat life-threatening arrhythmias of the heart."

"With these new devices and our current line of long-lasting ICDs and CRT-Ds, including the world's only subcutaneous ICD, we believe we offer the very best range of options for patients at risk of sudden cardiac arrest with or without the need for cardiac resynchronization therapy," said Joe Fitzgerald, executive vice president and president for the Rhythm Management division of Boston Scientific. "Our devices simply offer more options to improve outcomes, reduce complications and lower the costs of treating patients."

ICDs and CRT-Ds are designed to treat patients suffering from heart failure and/or to provide protection to patients at risk of sudden cardiac death. Heart failure is a chronic, progressive condition in which the heart muscle is unable to pump enough blood to meet the body's need for blood and oxygen.[ii] Sudden cardiac death (SCD) is a sudden, unexpected death caused by loss of heart function and is a leading cause of death. Nearly 400,000 out-of-hospital cardiac arrests occur annually in the United States.[iii]


Susser (SUSS) SSS Grow 1.9% in Q1 Apr 15, 2014 04:40PM

Susser Holdings Corporation (NYSE: SUSS) and Susser Petroleum Partners LP (NYSE: SUSP) today provided partial operating results for the first quarter of 2014.

Susser Holdings expects to report:

  • Same-store merchandise sales growth of approximately 1.9 percent, compared to growth of 4.2 percent for the year-earlier period, which included the Easter holiday. This year, Easter falls in the second quarter.
  • Retail average per-store fuel volume growth of approximately 2.0 percent, compared to growth of 4.1 percent for the year-earlier period. Excluding the 47 Sac-N-Pac stores acquired at the end of January, the average gallons per store grew by 4.2% compared to the first quarter of 2013.

Susser Petroleum Partners expects to report total gallons sold of approximately 433 million for the first quarter, an increase of approximately 18% over the first quarter of 2013.

New Locations Update

Susser Holdings opened two new Stripes® convenience stores during the first quarter and acquired 47 convenience stores at the end of January that are currently operating under the Sac-N-Pac brand. The Company operated 629 retail convenience stores as of the end of March, 402 of which included an in-store restaurant offering. The Company has acquired 1 additional convenience store to date in the second quarter, and currently has 17 under construction.

27 new dealer sites were added in the wholesale segment during the first quarter, including 19 acquired in conjunction with the Sac-N-Pac acquistion, and two sites were discontinued for a total of 616 contracted branded sites as of March 31, consisting of 99 consignment locations and 517 other independent branded dealer locations.

Susser Holdings and Susser Petroleum Partners completed sale leaseback transactions for seven new Stripes locations during the first quarter at a total cost of $27.3 million. Since the initial public offering of units in Susser Petroleum Partners was completed in September 2012, Susser has completed sale leaseback transactions for a total of 40 newly-built stores at a cumulative cost of $160.7 million.


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