Conseco Fin & GreenTree Fin Ltd Guar Tranches Dwngr To `BBB'.Business Editors NEW YORK--(BUSINESS WIRE)--April 20, 2000 Fitch fitch: see polecat. IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals downgrades the limited guarantee classes of Conseco Finance Corp. and Green Tree Financial Corp.'s securitizations listed below to `BBB' from `BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. +'. Fitch IBCA also revises the RatingAlert to RatingAlert Negative from RatingAlert Evolving. This action follows Fitch IBCA's downgrade Downgrade A negative change in the rating of a security. Notes: For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. of Conseco Finance Corp.'s long-term counterparty Counterparty The other participant, including intermediaries, in a swap or contract. rating to `BBB' from `BBB+'. The RatingAlert has also been revised to RatingAlert Negative from RatingAlert Evolving. For more information regarding Fitch IBCA's rating of Conseco Finance Corp., please see Fitch IBCA's press release dated April 19, 2000. Green Tree Financial Corp. and Conseco Finance Corp. Manufactured Housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use. In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected Contracts Pass-Through Certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size : 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. Green Tree Financial Corp. and Conseco Finance Corp. Home Equity Loan/Home Improvement Loan Certificates: series 1996-C, 1996-D, series 1996-E, 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-E, series 1999-F, series 1999-H. Green Tree Recreational, Equipment & Consumer Trust: series 1996- A, 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. Green Tree Floorplan Receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed Master Trust: series Green Tree Floorplan Receivables Master Trust, 1996-2, series Green Tree Floorplan Receivables Master Trust, 1998-1, series Green Tree Floorplan Receivables Master Trust, 1998-2, series Green Tree Floorplan Receivables Master Trust, 1999-1. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion