Colony Credit Real Estate, Inc. Provides Company Updates
COLONY CREDIT REAL ESTATE INC (CLNC)
Last colony credit real estate inc earnings: 2/27 04:05 pm
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Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)--Colony Credit Real Estate, Inc. (NYSE: CLNC) (“Colony Credit Real Estate” or the “Company”) announced today updates on its continuing business operations and a suspension of its monthly dividend in connection with the impact of the COVID-19 global pandemic.Management Actions. Michael J. Mazzei joined as Chief Executive Officer and President of the Company on April 1, 2020. Mr. Mazzei and management have been engaged in the Company’s business, including banking, financial, borrower and partner relationships, regarding its properties and business operations, and taking measures to support the balance sheet and financial flexibility, as described in further detail below. In addition, notwithstanding governmental mandated stay-home policies, business continuity systems at the Company and its manager have allowed the team to effectively communicate, execute corporate, investment and portfolio management demands, maintain internal financial and other contro
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