FITCH TO ?UPGRADE COMSECO??
" Fitch will evaluate each of these securities
to determine whether the excess interest,
and if applicable, overcollateralization,
is sufficient
to achieve a rating above the 'B' rating of the company."
:-))
TA
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biz.yahoo.com
Monday August 14, 4:16 pm Eastern Time
Fitch places some Conseco, Green Tree ABS on alert
(UPDATE: Press release provided by the rating agency)
NEW YORK, Aug 14 (Reuters) - Fitch places the limited guarantee classes of Conseco Finance Corp. (NYSE:CNC - news) and Green Tree Financial Corp.'s securitizations listed below on Rating Alert Evolving.
This action follows Fitch's downgrade of Conseco Finance Corp.'s senior debt rating to 'B' from 'BB-'.
For more information regarding Fitch's rating of Conseco Finance Corp., please see Fitch's press release dated August 11, 2000. To date, the ratings on these securities have reflected the strength of the limited guarantee provided by Conseco (formerly Green Tree Financial Corp.). If the limited guaranty were the only form of credit enhancement for these securities, they would be downgraded to 'B'.
However, all of these securities are also supported by monthly excess interest, and in some cases, overcollateralization (O/C).
Fitch will evaluate each of these securities to determine whether the excess interest, and if applicable, O/C, is sufficient to achieve a rating above the 'B' rating of the company.
The affected securities are:
Green Tree Financial Corp. and Conseco Finance Corp. manufactured housing contracts pass-through certificates: Series 1992-1, series 1992-2, series 1993-1, series 1993-2, series 1994-1, series 1994-2, series 1994-3, series 1994-5, series 1994-6, series 1994-7, series 1994-8, series 1995-1, series 1995-2, series 1995-3, series 1995-4, series 1995-5, series 1995-6, series 1995-7, series 1995-8, series 1995-9, series 1995-10, series 1996-1, series 1996-2, series 1996- 3, series 1996-4, series 1996-5, series 1996-6, series 1996-7, series 1996-8, series 1996-9, series 1996-10, series 1997-1, series 1997-2, series 1997-3, series 1997-4, series 1997-5, series 1997-6, series 1997-8, series 1998-1, series 1998-3, series 1998-4, series 1998-6, series 1998-7, series 1999-1, series 1999-2, series 1999-3, series 1999-4, series 1999-5, series 2000-1, 2000-2, 2000-4.
Green Tree Financial Corp. and Conseco Finance Corp. home equity loan certificates: Series 1996-C, 1996-D, series 1996-F, series 1997-A, series 1997-B, series 1997-C, series 1997-D, series 1997-E, series 1998-B, series 1998-C, series 1998-D, series 1998-E, series 1999-A, series 1999-C, series 1999-D, series 1999-F, series 1999-H Group I, series 2000-A, series 2000-B, series 2000- C.
Green Tree Financial Corp. and Conseco Finance Corp. home improvement loan certificates: Series 1996-C, series 1996-D, series 1996-E, series 1996-F, series 1997-A, series 1997-C, series 1997-D, series 1997-E, series 1998-B, series 1998-D, series 1998-E, series 1999-E.
Green Tree Recreational, Equipment & Consumer Trust: Series 1996-B, series 1996-C, series 1996-D, series 1997-A, series 1997-B, series 1997-C, series 1997-D, series 1998-A, series 1998-B, series 1998-C, series 1999-A. |
