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Rite Aid completes refinancing to tune of $117M loss

By , - Last modified: February 25, 2013 at 10:01 AM

Cumberland County-based drug store chain Rite Aid Corp. said it has completed a series of refinancing moves to extend the maturity of some of its debt and lower interest expenses.

Cumulatively, the modifications are expected to result in a recorded loss of $117 million, the company said in a news release.

But Rite Aid anticipates it will produce annual cash interest savings of about $45 million, the release stated.

Rite Aid has 4,626 stores in 31 states and Washington, D.C.

Shares of the East Pennsboro Township-based company are traded on the New York Stock Exchange under the ticker symbol RAD.








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