Ellington Credit Adopts Tax Asset Preservation Plan Designed to Protect Shareholder Value by Preserving the Availability of Its Net Operating Losses While Operating as a C-Corp

OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Credit Company (“Ellington Credit” or the “Company”) (NYSE: EARN) announced today that it has adopted a shareholder rights plan designed to protect shareholder value by preserving the availability of the Company’s net operating loss carryforwards (“NOLs”) and other tax attributes under the Internal Revenue Code of 1986, as amended (the “IRC”) (such plan, the “Tax Asset Preservation Plan”). As previously announced, later this year Ellington Credit