Monitronics International Inc., operator of Brinks Home Security, filed a prepackaged bankruptcy in order to eliminate $885 million in debt with its creditors, the Dallas Morning News reported. Monitronics, a subsidiary of Colorado-based Ascent Capital Group Inc., said that it expects to emerge from chapter 11 protection in 75 days with what it describes as "the strongest balance sheet in its industry." When it exits bankruptcy, the company said that it has $295 million in financing lined up to execute on its strategic plan. The restructuring is supported by holders of 91 percent of Monitronics' secured term loans and 81 percent of its senior unsecured notes, according to the company.
