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5i Report
Rating
C+
Review of WiLan Inc
NOV 17, 2015 - A shift in strategy, cut in dividend and confusing signals have led us to downgrade and drop coverage of WIN. There is some potential here based on valuation for patient, more speculative investors. Rating downgraded to 'C+'. Dropping coverage.
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Q: Results could be described as stable, but I don't like the fact that they had to renegotiate covenants, and that the extension goes only until September30, 2025.
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Your opinion on both the results and the covenant issue would be most welcome.
Thanks folks!
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