Standard Pacific in credit talks
From Times Wire Services
Standard Pacific Corp., a builder of homes in eight states including California and Texas, is in talks with lenders to amend its credit agreements.
Banc of America Securities and JPMorgan Securities Inc. “have indicated their preliminary intent to approve” changes, Irvine-based Standard Pacific said in a regulatory filing.
The housing slump is forcing some home builders to ask their banks for better terms to reduce the risk that they may default.
On July 26, Standard Pacific reported a second-quarter loss of $165.9 million, or $2.56 a share.
