Bankruptcy Could be Up Next for Quantum Fuel Systems (QTWW) - FBR

FBR & Co. affirms Quantum Fuel Systems Technologies Worldwide (Nasdaq: QTWW) at Market Perform after the company announced that it failed to make a $2.7 million principal payment (had $4.5 million drawn as of September 30, 2015) on its credit facility that matured March 14, 2016. The missed payment also caused a default on its 2.0% senior secured convertible notes that have a principal balance of $12.475 million.

Analyst Carter Driscoll said: We see two bifurcated outcomes (1) recapitalize through a successful renegotiation of its credit facility and convertible notes (2) file for federal bankruptcy protection. We do not know how long the process will take to unfold but will monitor the situation closely.

For an analyst ratings summary and ratings history on Quantum Fuel Systems click here. For more ratings news on Quantum Fuel Systems click here.

You May Also Be Interested In

• Faraday Future reports Q2 revenue of $836K, net loss narrows
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)