UWM CORP. CL.A O.N.

Fitch cut UWM’s long‑term issuer default ratings from BB‑ to B+ with a stable outlook, citing a rise in leverage to 6.1x in Q2 2026 (after 3.2x in Q1) and a hedging loss of USD 603 million. Gross leverage increased to 14.8x in Q2 2026, and Fitch expects leverage to remain above the prior downgrade trigger of 2.0x. A planned USD 1.65 billion issuance of perpetual preferred stock will be treated by Fitch as debt, though the issuance should be neutral to leverage because proceeds are to be used to repay secured liabilities. Fitch also highlights UWM’s strong market position in the wholesale channel, adequate liquidity, asset quality, technology platform and experienced management as supports for the rating. » Więcej na de.investing.com

The stock fell about 15.8% premarket after the company reported a net loss of $451.9 million for Q2/2026 and EPS of -$0.23, significantly missing consensus. UWM announced a $2.05 billion investment by Oaktree Capital and the Ishbia family in the form of preferred shares and warrants and suspended the quarterly dividend on common stock. To shore up the balance sheet, a $400 million rights offering is planned, which may include up to 200 million new Class A shares; Oaktree will also receive a board seat. Equity fell to $985.3 million, the leverage ratio rose to 6.13, and the stock was trading near its 52-week low. » Więcej na de.investing.com

UWM is receiving a $2.05 billion capital investment from Oaktree Capital Management and the Ishbia family via SFS Group Capital, consisting of preferred equity and warrants. The company is suspending the dividend on class A common stock in order to prioritize proceeds for repayment of existing liabilities and to pay down financing facilities for mortgage servicing rights. UWM also plans a rights offering of up to $400 million for holders of class A shares (record date October 2, 2026) with a subscription price of at least $2.00 or 85% of the volume-weighted average price; $1.65 billion of preferred equity will be provided at closing. Oaktree will receive a seat on the board of directors and the right to nominate an additional independent member; the Ishbia family and Oaktree will support the rights offering if needed. » Więcej na de.investing.com