| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Thornburg Mortgage, Inc. > News item |
Fitch ups Thornburg to CCC
Based on Thornburg Mortgage Inc.'s Dec. 12 payment within the 30-day grace period of interest due on Nov. 15 for its 8% senior notes, Fitch Ratings said it has revised Thornburg's issuer default rating as follows: issuer default rating to CCC from RD.
Fitch said it has maintained the following ratings: senior notes at C/RR6; senior secured subordinated notes at C/RR6; subordinated notes at C/RR6; and preferred stock at C/RR6.
The issuer default rating of CCC is indicative of Fitch's view that default of Thornburg's corporate obligations is a real possibility, given that the amended override agreement Thornburg entered into with its reverse repurchase lenders expires in March.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.