National Financial Partners (NFP) Skyrockets Over 60% Today
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National Financial Partners (NYSE: NFP) has skyrocketed over 60% today on news that it may pay off the outstanding amount on its credit facility by the end of 2009. On the conference call, National Financial Partners said it plans to use free cash flow to reduce the amount outstanding on its current credit facility.
National Financial Partners reported earnings today and in the press release it said it now has additional financial flexibility as it amended its credit-facility in December.
NFP also said in the call that it sees at least a 10% reduction in G&A in 2009.
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National Financial Partners Corp. (NFP) is an independent distributor of financial services products primarily to high net worth individuals and companies.
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