RADNOR, Pa.--(BUSINESS WIRE)--The J.G. Wentworth Company® (NYSE: JGW), a diversified financial services company, announced that it has made several changes to its structured settlement payment and annuity payment purchasing warehouse platform.

The Company recently amended and restated its $300 million warehouse credit agreement with Barclays Bank PLC and Natixis New York Branch extending the maturity and the revolving period by twelve (12) months to July 2017. In connection with its focus on overall production requirements and segment profitability, the Company also elected to reduce its total warehouse capacity for structured settlement and annuity payment purchasing to $400 million and terminated its warehouse credit agreement with Credit Suisse, which it had previously reduced to $100 million. The Company will continue to evaluate the appropriate warehouse capacity levels for its structured settlement and annuity payment purchasing business on an ongoing basis and will aim to keep them at the most efficient levels.

In addition, the Company notes that it received notice from the New York Stock Exchange (“NYSE”) on May 31, 2016 that it was not in compliance with the NYSE's requirement that the average closing price of its common stock be at least $1.00 per share over a consecutive 30-trading-day period.

As required by NYSE procedures, the Company will submit an acknowledgement letter to the NYSE within 10 business days from the receipt of the NYSE notice of its intentions regarding regaining compliance with the listing standard within 6 months.

The Company can regain compliance with this listing standard at any time during the six-month cure period if the Company’s common stock has a closing share price of at least $1.00 on the last trading day of any calendar month during the period and also has an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.

The Company is exploring alternatives for curing this deficiency. The Company’s common stock will continue to be listed and traded on the NYSE during the cure period, subject to compliance with the NYSE’s other applicable continued listing standards. The notice of non-compliance from the NYSE does not conflict with or violate any of the Company’s credit or debt obligations.

About The J.G. Wentworth Company®

The J.G. Wentworth Company® is a diversified financial services company. The Company is focused on providing direct-to-consumer access to financing needs through a variety of solutions, including: mortgage lending and refinancing, structured settlement payment purchasing, personal lending and prepaid cards. Through the J.G. Wentworth, Peachtree Financial Solutions, and Olive Branch Funding brands, the Company is the leading purchaser of structured settlement payments.

Mortgage loans are offered by J.G. Wentworth Home Lending, LLC NMLS ID# 2925 (www.nmlsconsumeraccess.org), 3350 Commission Court, Woodbridge, VA 22192; 888-349-3773.

For more information about The J.G. Wentworth Company®, visit www.jgw.com or use the contact information provided below.