COFs debt is a major concern. Can anyone explain how a 120M debt attracts an 18M annual interest liability. Surely the rate is not 15%, the 18M must include a sizable ?refinancing fee?. Unfortunately COF is firmly in the palm of the banks hand and will get @%$@ed at every opportunity. Debt reduction is a priority, so no dividends for a long while. Notwithstanding, if COF can meet guidance and reduce debt there is a lot of upside to the current price IMO.
Roger Olds was a disappointment....the new CEO seems OK but needs to earn his stripes.
COF Price at posting:
48.7¢ Sentiment: Hold Disclosure: Held