Atlantic Express emerges from bankruptcy

Atlantic Express Transportation Group and its subsidiaries have emerged from Chapter 11 reorganization proceedings. The Staten Island, N.Y.-based provider of paratransit, coach, charter and school transportation service also entered into a $100 million revolving credit facility with Congress Financial Corp. and a $45 million financing with Banc of America Securities LLC. "This is a very important milestone for our company and one that defines our future direction," said Domenic Gatto, founder and CEO of Atlantic Express.