A sharp drop in mortgage rates is sending homeowners to their lenders to lower monthly payments.
A weekly measurement of refinancing activity showed a 5% decline even though mortgage rates fell for the first time in seven weeks.
The company says its liquidity challenges "raise substantial doubt about Kodak’s ability to continue as a going concern.”
S&P says there is a material risk Eastman Kodak will be unable to refinance a $395 million outstanding term loan.
The stock rises more than 8%, recouping some of the losses it suffered after Hertz reported disappointing first-quarter results.
As measured by Trepp, the delinquency rate has increased in 11 of the past 13 months and, at 5.37%, is now 115 basis points higher than a year ago.
YRC's controller is glad that a 2014 refinancing didn't fall under 'troubled debt restructuring,' like a 2011 recapitalization did.
CFO chronicles YRC Worldwide's descent into and return from the financial depths.
