WCI Communities in loan amendment discussions to gain flexibility

By Sara Rosenberg

New York, Aug. 6 - WCI Communities Inc. has started to talk with its credit facility lenders about an amendment that would provide broader latitude for the company to operate during the continued homebuilding downturn, according to a news release.

Currently, the company has over $475 million of liquidity in cash and borrowing capacity on its revolving credit facility.

And, although the quarterly review by the external accountants is not yet complete, the company does not appear to be in default under any of its credit agreements.

WCI is a Bonita Springs, Fla., builder of traditional and tower residences in highly amenitized lifestyle communities.

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