MMA Capital Holdings Announces Expected Release of Deferred Tax Asset Valuation Allowance
MMA Capital Mgmt, LLC (MMAC)
US:NASDAQ Investor Relations:
mmacapitalmanagement.com
Company Research
Source: PR Newswire
BALTIMORE, Feb. 20, 2020 /PRNewswire/ -- MMA Capital Holdings, Inc. (Nasdaq: MMAC) ("MMA Capital" or the "Company") today announced that it expects to report the release of a portion of the Company's valuation allowance associated with its deferred tax assets that is expected to result in a material increase to net income and common shareholders' equity for the year ended December 31, 2019. Such anticipated release reflects the Company's assessment that, based on all available evidence as of December 31, 2019, it is more likely than not that a portion of the Company's net operating loss carryforwards will be utilized. Evidence evaluated by the Company included, but was not limited to, its three-year cumulative income position, the results and trend of pretax book income from core operations and its forecast of pretax book income. Michael Falcone, MMA Capital's Chief Executive Officer stated, "As a result of the strategic repositioning of our business over the last two years, especial
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