Clayton Holdings Announces Credit Rating Upgrade and Debt Repricing.SHELTON, Conn. -- Clayton Holdings, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CLAY), a provider of information-based analytics, consulting and outsourced services for capital markets firms, lending institutions, fixed income investors and loan servicers, today announced that its corporate debt ratings have been upgraded. Moody's upgraded its rating to Ba3 from B1 with a stable outlook and Standard & Poor's revised its outlook to positive from stable following the company's improved financial performance and credit metrics in 2006. In addition, the company amended its existing credit facility, reducing the borrowing rates on the related debt by 125 basis points, effective March 15, 2007. Since December 2006, Clayton has repaid $20 million of debt ahead of schedule. "We are very pleased that the rating agencies have recognized our efforts to diversify our revenue stream and improve the financial condition of the company," said Frank Filipps, Chairman and Chief Executive Officer of Clayton. "Based on our current level of debt outstanding, the repricing Repricing To change the price of an asset. In derivatives, it sometimes refers to the exchange of options of with different strike prices. repricing of our debt facilities will reduce our interest expense by approximately $750,000 annually." About Clayton Holdings, Inc. Clayton Holdings, Inc., headquartered in Shelton, Connecticut Shelton is a city in Fairfield County, Connecticut, United States. History Origins The town was split off from Stratford in 1789, as Huntington (named for Samuel Huntington). , is an information and analytics company serving leading capital markets firms, lending institutions, fixed income investors and loan servicers with a full suite of information-based analytics, specialty consulting and outsourced services. Clayton's services include due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. analytics, conduit support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , professional staffing, compliance products and services, credit risk management and surveillance and specialized loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. services. Additional information is available at www.clayton.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release may contain forward-looking statements within the meaning of the federal securities laws. When used, the words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "plan," "project," "result," "should", "will" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties, both known and unknown and often beyond our control, and are not guarantees of future performance insofar in·so·far adv. To such an extent. Adv. 1. insofar - to the degree or extent that; "insofar as it can be ascertained, the horse lung is comparable to that of man"; "so far as it is reasonably practical he should practice as actual events or results may vary materially from those anticipated. Factors that may cause such a variance include, among others, those discussed from time to time in our filings with the Securities and Exchange Commission. We expressly disclaim any responsibility to update forward-looking statements. |
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