Century Communities amends credit agreement, increases commitments to $1.2 billion

Century Communities, Inc. (NYSE:CCS) has amended its credit agreement, increasing the aggregate commitments to $1.2 billion, effective September 30. The amendment, reported by Investing.com, sees the addition of Flagstar Bank, N.A. and Morgan Stanley Senior Funding, Inc. as new lenders, while BMO Bank N.A. is now designated as a Non-Extending Lender.

The facility termination date for participating lenders has been extended to November 1, 2030, and the 0.10% credit spread adjustment for SOFR-based borrowings has been eliminated. Century Communities maintains a strong current ratio of 4.76 and a debt-to-equity ratio of 0.66, with a revised tangible net worth covenant requiring a minimum tangible net worth of approximately $1,766,519,096.

The company reported impressive second-quarter 2026 results, surpassing analysts' expectations with adjusted earnings of $1.30 per share and revenue of $927.23 million. Despite a challenging housing market, Century Communities has raised its full-year delivery and revenue outlook, expecting to deliver between 9,750 to 10,500 homes and generate revenue between $3.5 billion to $3.8 billion.

Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.