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UniTek Global Services, Inc. Message Board

  • pajacobsen pajacobsen Jun 10, 2013 9:55 AM Flag

    Market did not like moody

    It seems like the market did not like Moody's new rating, with the opening bell leading to a $0.32 drop in the per share price (albeit on a low volume)

    The price has since then recovered about 50%, and is now, at 10 a.m., or so, "only" down $0.18.

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    • Not a lot to like. The hint of bankruptcy is not good. I have gone over the numbers again(using the estimates), and I don't see how bankruptcy is iminent unless the lenders are allowing no play. Do you have an opinino on this?

      • 1 Reply to scoler72
      • Scoler,

        Well, bankruptcy is a nasty process with no winners, so, generally, it is not initiated by the lenders, but, rather, by the company having loaned the money.

        The distinction, however, is irrelevant to my mind, since I believe that lender, customer, and company will come to terms (quickly).

        Moreover, I know that there are one or two posters (with no holdings, btw.) that likes to yell bankruptcy, but there are zero indications that this will happen.

        The company is progressing in a healthy way, cleaning up the mess, and -- to my mind -- the only issue is how quickly the restatement can be completed (it is holding up the refinancing, and, therefore, the customer confirmation.) My expectation is that once the restatement is pinned down, the refinancing happens, DirecTV confirms that they are staying, and we will roll back to the $4 or $5 mark.

        Then, of course, we have to work the issue of the law suits, and I, for one, as a shareholder and co-owner do not want the company to settle.

 
UNTK
1.65+0.03(+1.85%)Apr 17 4:00 PMEDT

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