WCI Communities WCIMQ
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Dropping Coverage of WCI Communities
We're dropping coverage of WCI Communities WCIMQ due its recent bankruptcy filing.
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WCI Declares Bankruptcy
WCI Communities WCI announced today that it has declared Chapter 11 bankruptcy, as it was unable to entice holders of convertible notes into an exchange for higher-yielding bonds with a later maturity date. We're resetting our fair value to $0.
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WCI Says It's in Default
WCI Communities ' WCI second-quarter results verify our contention that there's very little hope for current equityholders. The company stated …
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Reinitiating Coverage of Beazer
… equity and sales ratios. In fact, out of our public-builder universe of 16 firms, only Orleans Homebuilders OHB and WCI Communities WCI have higher net debt/sales ratios, and only D.R. Horton DHI, Toll Brothers TOL, Orleans, and WCI have higher …
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WCI Reports 4Q Results
WCI Communities ' WCI fourth-quarter loss of $460 million ($10.93 per share) was driven by $339 million in impairments and write-offs …
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Raising Some Builders' Risk Ratings
… and Toll Brothers TOL are all getting a one-notch increase in their risk ratings. We're also putting Lennar LEN, WCI Communities WCI, and M.D.C. Holdings under review while we examine our models. On the bright side (yes there is one), several …
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Maintaining WCI's Fair Value
After reviewing WCI Communities ' WCI preliminary results, we've decided to stick with our fair value estimate and reiterate our speculative risk rating. The …
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WCI Gives Preliminary 4Q Data
WCI Communities WCI released some preliminary fourth-quarter results Tuesday that indicate the company continues to struggle mightily. Its pretax …
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WCI Amends Loan Agreements
WCI Communities WCI announced Wednesday that it was able to negotiate an amendment to its revolver and term loan agreements such that it appears …
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Comments Roil WCI
On Wednesday, WCI Communities WCI shares fell more than 50%, in part because of published comments by a credit analyst that the company's negotiations with …