|Bid||0.0000 x 3100|
|Ask||0.0000 x 2900|
|Day's Range||0.0850 - 0.1000|
|52 Week Range||0.0123 - 3.8100|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 07, 2020 - May 11, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.10|
Moody's Investors Service (Moody's) downgraded Internap Corporation's (Internap) probability of default rating (PDR) to D-PD from B3-PD following the announcement that the company filed a petition for relief under Chapter 11 of the US Bankruptcy Code on March 16, 2020. Internap's corporate family rating (CFR) was downgraded to Ca from B3, its senior secured credit facilities, which include the company's $435 million term loan and $35 million revolver, were downgraded to Ca from B3. Subsequent to today's actions, Moody's will withdraw the ratings due to Internap's bankruptcy filing.
Internap Corporation ("INAP" or "the Company") (NASDAQ: INAP) today announced definitive steps through which it expects to significantly reduce debt and extend maturities, equipping INAP to generate the cash flows needed to grow the business and reinvest in its products and customers. To support this strengthening of its capital structure, INAP entered into a Restructuring Support Agreement (the "RSA") with an ad hoc lender group (the "Ad Hoc Lender Group") holding approximately 77% of its outstanding term loans. With support of the Ad Hoc Lender Group, INAP and each of its U.S. subsidiaries filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.
The ratings on the principal and interest (P&I) classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. The rating on the interest-only (IO) class was affirmed based on the credit quality of the referenced classes.
We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]
INAP’s ability to use its NOLs would be substantially limited if INAP experienced an “ownership change” as defined in Section 382 of the Internal Revenue Code. A company generally experiences such an ownership change if the percentage of its stock owned by its “5-percent shareholders,” as defined in Section 382, increases by more than 50 percentage points over a rolling three-year period. The NOL Rights Plan is intended to reduce the likelihood of such an ownership change at INAP by deterring any person or group from acquiring beneficial ownership of 4.9% or more of INAP’s outstanding common stock, thereby protecting stockholder value.
Ubersmith, an INAP (INAP) company and a global leader in subscription business management software, today reported on progress this year delivering innovation in product features while adding new customers and investing more in partners. “We’re proud to have released new value to customers and the subscription management market through our version 4.4 and 4.5 releases while enhancing our customer onboarding, customer success, and support services,” said Kurt Daniel, CEO of Ubersmith. In terms of product development, Ubersmith introduced a QuickBooks Online accounting integration covering customers, service plans, invoices, payments, refunds and credits.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Internap Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Leading enterprise search and discovery firm strategically expands its bare metal footprint to London ahead of Brexit agreement and potential market changes through new UK data.
DediPath, a provider of infrastructure as a service (IaaS), recently selected INAP as their primary provider of data center solutions in the L.A. market. Already the anchor tenant in INAP’s Redondo Beach data center, DediPath expands colocation footprint to INAP’s El Segundo data center. RESTON, Va., Nov. 20, 2019 (GLOBE NEWSWIRE) -- Internap Corporation (INAP), a leading-edge provider of high-performance data center and cloud solutions with global network connectivity, and DediPath, a provider of infrastructure as a service, today announced an agreement for colocation services at INAP’s El Segundo data center.
Today, Internap Corporation (INAP), a leading-edge provider of high-performance data center and cloud solutions with global network connectivity, announced the results of its annual State of IT Infrastructure Management report, which surveyed more than 500 IT professionals about their organization’s current and future plans for IT infrastructure. While the majority of IT professionals would give their current IT infrastructure an above average grade, only one in four would say it’s worthy of an “A.” When asked why their infrastructure didn’t receive top marks, the top two reasons were that the infrastructure is not fully optimized for the organization’s applications and the fact that IT professionals are spending too much time managing and maintaining the infrastructure (both at 42 percent).
OSNet delivers internet and telecommunications services using wireless and fiber technology with 50 employees that serve 500 customers for a total of 2,000 residential and 3,500 commercial users, including Microsoft and Toyota. Early on, OSNet grew beyond its homegrown billing software and switched to billing and business management software from Ubersmith, an INAP (INAP) company, and has since expanded its use for financial reporting and forecasting, as well as customer support.
Moody's Investors Service (Moody's) has affirmed the B3 corporate family rating (CFR) of Internap Corporation (Internap) and changed the outlook to negative from stable. Moody's has also affirmed the company's B3-PD probability of default rating (PDR) and B3 rating on the company's senior secured credit facilities, which include the company's $435 million term loan and $35 million revolver. The speculative grade liquidity (SGL) rating has been downgraded to SGL-3 from SGL-2, indicating adequate liquidity.
It's been a mediocre week for Internap Corporation (NASDAQ:INAP) shareholders, with the stock dropping 12% to US$1.99...
Revenue of $72.9 Million, down $0.3 Million Sequentially, Demonstrating Continued Churn StabilityNet Loss Attributable to Shareholders of $23.9 Million, or $1.01 Per.
ATLANTA, Nov. 08, 2019 -- On Thursday, Nov. 14 through Friday, Nov. 15, Esports Summit 2019 will take place at the Georgia World Congress Center. Presented by Skillshot Media,.
RESTON, Va., Oct. 24, 2019 -- Internap Corporation (NASDAQ: INAP), a leading-edge provider of high-performance data center and cloud solutions, will release its third quarter.
With the current trend to cloud computing and move away from massive, centralized on-premise data centers, a profound shift is just getting underway to the next phase of “edge computing.” Kurt Daniel, CEO of Ubersmith, will speak about the challenges and opportunities that edge computing brings to provisioning of computing resources, along with billing for use and services, at Edge Global Congress in Austin on November 6. “Service Provisioning and Billing at the Edge” will look at this emerging trend with advice on how to seize on the opportunity coming in the transition to edge computing.
Global content leader Lionsgate signs multiyear deal with INAP for space and power at two INAP flagship data centers INAP’s data center reliability, support flexibility and.
Long term investing works well, but it doesn't always work for each individual stock. We don't wish catastrophic...
Customer with a long and illustrious history with stores nationwide, signs multiyear deal with INAP for customized space and power INAP chosen based on strategic location,.
RESTON, Va., Oct. 01, 2019 -- Internap Corporation (NASDAQ: INAP), a leading-edge provider of high-performance data center and cloud solutions with global network connectivity,.
Avalo Networks is transforming the delivery of voice services while streamlining its operations and supporting its growth with business management software from Ubersmith, an INAP (INAP) company. Now in its fifth year, Avalo makes available high quality, carrier-class and regulatory compliant cloud-based communications services that cable, mobile, telco, and other broadband providers deliver to their residential and business customers. “Ubersmith is at the core of Avalo Networks.
Leading enterprise search and discovery firm values INAP’s high-performance infrastructure platforms and low-latency network services INAP’s New York and Silicon Valley Data.
INAP and financial services firm that services over 65 million consumers and small business clients announce a long-term contract extension Customer will have a contracted.