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Stock Market & Financial Investment News

News Breaks
June 11, 2014
09:43 EDTRSHFitch: RadioShack 'does not have material sources of liquidity beyond revolver'
RadioShack's weak Q1 results underscore the material challenges in its core business segments with few options left to stem the declines given a tightening liquidity situation, according to Fitch Ratings. Fitch believes RadioShack does not have material sources of liquidity beyond its revolver, as virtually all of its assets have been pledged to its credit facilities. Fitch expects excess liquidity to be very tight as we approach peak seasonal borrowings, which could prompt a restructuring before year end. Absent an agreement with its lenders, it appears that RadioShack will only be able to close 200 stores in 2014, down from its earlier plan to close up to 1,100 stores. In Fitch's view, closing fewer stores will be a drag on profitability and, more significantly, free cash flow, as it will not provide the much-needed funds from inventory liquidation that RadioShack was anticipating. Fitch downgraded the long-term issuer default rating for RadioShack Corp. to 'CC' from 'CCC' on May 15, reflecting the increasing likelihood that RadioShack will need to restructure its debt within the next 12 months. A further downgrade to 'C' would signify that Fitch believes a default at RadioShack is imminent. This would be reflected by further strain on RadioShack's cash flow and liquidity that impedes the company's day-to-day operations.
News For RSH From The Last 14 Days
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October 30, 2014
18:45 EDTRSHSalus Capital looks to increase RadioShack debt, Bloomberg says
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October 29, 2014
09:00 EDTRSHRadioShack names Harry Wilson as Chief Revitilization Officer
Harry J. Wilson, founder and CEO of The MAEVA Group, will serve as the Chief Revitalization Officer of RadioShack, reporting to RadioShack CEO Joe Magnacca and the RadioShack Board.
08:08 EDTRSHRadioShack announces MAEVA Group to provide advisory services
RadioShack announced that The MAEVA Group will provide advisory services to RadioShack's board and management as the Company moves forward with its operational and financial turnaround.

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