Bankruptcy Court Confirms USEC Plan Of Reorganization

(RTTNews) - USEC Inc. (USU) said Friday that the U.S. Bankruptcy Court for the District of Delaware has confirmed the company's Plan of Reorganization and that it will emerge from Chapter 11 restructuring under the name Centrus Energy Corp. when the plan becomes effective later this month.

The confirmation of the Plan of Reorganization is the last major court step in the Chapter 11 bankruptcy process that USEC began March 5, 2014.

The plan received overwhelming support from investors who hold the company's convertible notes and preferred equity.

The company anticipates that the plan will become effective later in September. The new common stock to be issued under the plan is also expected to begin trading on the effective date. The new common stock is expected to trade on the New York Stock Exchange under the ticker symbol "LEU".