(Reuters) - The Mayaguez-based parent of Westernbank Puerto Rico said
it determined on June 19 that one of the larger loans made by
its asset-based loan unit is "impaired." It said it believes
the value of the collateral may be at least $80 million below
the face value of the loan.
W Holding said it has hired an independent firm to review
the impaired loan, the lending unit, and the company's
asset-based lending portfolio. It said it is evaluating
possible new collateral and the loan guaranty to determine the
extent to which the loan might affect its finances.
Read more at Reuters.com Bonds News
it determined on June 19 that one of the larger loans made by
its asset-based loan unit is "impaired." It said it believes
the value of the collateral may be at least $80 million below
the face value of the loan.
W Holding said it has hired an independent firm to review
the impaired loan, the lending unit, and the company's
asset-based lending portfolio. It said it is evaluating
possible new collateral and the loan guaranty to determine the
extent to which the loan might affect its finances.
Read more at Reuters.com Bonds News
No comments:
Post a Comment