CoreCivic, Inc. (CXW) News
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CXW News Highlights
- CXW's 30 day story count now stands at 17.
- Over the past 18 days, the trend for CXW's stories per day has been choppy and unclear. It has oscillated between 1 and 4.
- The most mentioned tickers in articles about CXW are GEO, ADOC and STAY.
Latest CXW News From Around the Web
Below are the latest news stories about CoreCivic Inc that investors may wish to consider to help them evaluate CXW as an investment opportunity.
Arrow BidCo LLC -- Moody's changes Target Hospitality's outlook to stable; affirms B3 CFRRating Action: Moody's changes Target Hospitality's outlook to stable; affirms B3 CFRGlobal Credit Research - 20 Apr 2021New York, April 20, 2021 -- Moody's Investors Service, ("Moody's") changed the outlook for Arrow BidCo LLC ("Target Hospitality" or "Target") to stable from negative on improved credit metric expectations as the company recovers from the COVID-19 shock in 2020 and demand for lodging stabilizes within the oil and gas sector. Moody's upgraded the speculative grade liquidity rating ("SGL") to SGL-3 from SGL-4 on improved liquidity.Activity levels in the basins that the company operates in have been increasing incrementally since mid-2020 as the price of oil improved. |
Barclays’s Derailed Prison Bond Deal Shows Growing Might of ESG(Bloomberg) -- The first sign of trouble came last week: A small group of investors circulated a letter lambasting Barclays Plc for helping to raise hundreds of millions of dollars to build two privately owned prisons in Alabama -- two years after the bank publicly vowed to cut financing ties with the for-profit industry.Before long, the initial marketing efforts for the municipal-bond sale showed signs of sputtering. A socially responsible business group threw the London-based bank out in protest, and students and activists in Alabama began an email campaign to derail the financing.Together, the outcry turned what was supposed to be a relatively routine deal into an embarrassing black eye for the investment banking giant.It also marked a rare victory for activists and investors focused... |
CoreCivic to move ahead on Alabama prison bonds after losing underwritersU.S. private prison operator CoreCivic Inc said on Monday it expects to move forward with a bond sale for Alabama prisons after two of three underwriters dropped out of the deal, which had come under attack by social justice activists. Barclays Plc, the senior underwriter for the taxable bond deal originally sized at $633.5 million, and KeyBanc Capital Markets, a co-manager, confirmed they were no longer participating in the bond pricing in the U.S. municipal market. In a statement, CoreCivic said it was "proceeding with efforts to help deliver desperately needed, modern corrections infrastructure to replace dilapidated, aging facilities that originally were designed with one purpose in mind – to warehouse individuals, not rehabilitate returning citizens." |
Barclays Drops Prison Bond Deal at Last Minute After Furor(Bloomberg) -- Barclays Plc pulled out of its role as the lead underwriter of a municipal-bond sale that was set to build prisons for CoreCivic Inc. after criticism that the bank was backtracking on a pledge to no longer provide financing to for-profit jail companies.KeyBanc Capital Markets, another manager, also said it was resigning from the transaction.The $634 million bond issue was set to be sold as soon as last week through a Wisconsin agency to raise money for a CoreCivic-owned company that was planning to build two prisons in Alabama. The facilities were set to be leased and run by the state’s Department of Corrections.The bank’s lead role in the deal drew controversy because it appeared to be at odds with Barclays’ announcement two years ago that it would no longer provide new ... |
Barclays pulls out of Alabama prison deal after backlashBarclays has pulled out of a deal to help fund two new jails in Alabama following a backlash from activists and investors. The bank has bowed to pressure after they demanded to know why it had decided to underwrite a deal by private prison operator CoreCivic just two years after it swore off America’s for-profit prison sector. Although Barclays was not lending directly to CoreCivic, its decision to underwrite the deal led to accusations that it was looking for loopholes to still get involved in the controversial private prison sector after vowing to stop financing the industry. Business advocacy groups the American Sustainable Business Council and Social Venture Circle terminated the bank's corporate memberships and returned $15,000 in fees paid by the bank. They argued that by particip... |
Barclays pulls out of underwriting debt deal to fund Alabama prisonsBarclays has pulled out of underwriting an $840m debt deal by CoreCivic to fund the building of two prisons in Alabama, after the bank came under scrutiny for its involvement. Barclays said in a statement on Monday it had advised clients that it would no longer underwrite the transaction. One of the other underwriters of the deal, KeyBanc Capital Markets, also pulled out of the deal, according to a statement on Monday. |
CoreCivic stock climbs after reaching agreement to settle lawsuitCoreCivic (CXW) stock jumps 3.8% after the REIT reaches an agreement in principle to settle a shareholder lawsuit that was filed in August 2016 against the company and certain of its current and former officers.The company will pay $56M in return for dismissal of the case with prejudice and a full release... |
Barclays Kicked Out of Business Group Over Prison-Bond Work(Bloomberg) -- Barclays Plc’s membership in the American Sustainable Business Council was terminated by the advocacy group over the bank’s decision to underwrite a municipal bond for two Alabama prisons owned by CoreCivic Inc., two years after saying it would no longer provide new financing to private prison companies.The council and partner organization Social Venture Circle, which combined represent 250,000 businesses to advocate for responsible practices and policies, announced Thursday they would refund Barclays’ membership dues. Barclays joined the group in 2019.Barclays is the lead underwriter for the bonds offered through a Wisconsin agency to provide financing for a limited liability company owned by CoreCivic. The new prisons will be leased and staffed by Alabama’s corrections ... |
CoreCivic Announces Agreement In Principle to Settle Shareholder LitigationBRENTWOOD, Tenn., April 16, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (“CoreCivic”) announced today that it has reached an agreement in principle to settle a purported securities class action lawsuit filed on August 23, 2016, against CoreCivic and certain of its current and former officers in the United States District Court for the Middle District of Tennessee, captioned Grae v. Corrections Corporation of America et al.. The lawsuit was filed after the company’s stock price declined following issuance of an August 18, 2016 memorandum from the Department of Justice instructing the Federal Bureau of Prisons (“BOP”) to reduce and ultimately end the use of privately operated prisons. "We are pleased to resolve this matter and put it behind us in order to focus on the Company’s b... |
GEO Group Needs A Strategic ResetThe GEO Group ([[GEO]], the “Company”) jarred investors yesterday when it announced that it was suspending the quarterly dividend payments and undertaking a review of the Company’s structure as a REIT. The goal, according to GEO, is to maximize the use of cash flows to repay debt, deleverage, and internally... |