Miscellaneous
The ratings of Conseco Finance Corp.'s bonds nose-dived after the credit ratings of its parent company, Conseco Inc. were cut by Standards & Poor's Corp. The ratings cut was brought on by news that Conseco was planning to sell its finance unit Green Tree Financial Corp.
Bank of Nova Scotia, which through Hollis Receivables Term Trust raised $1.32 billion in a recent offering, might be coming to market in a couple of weeks with a term deal that may either be a public or private transaction.
In its annual report filed with the Securities and Exchange Commission, National Auto Finance (NAFI) is having preliminary and limited discussions with Nuvell Credit Corp. about the acquisition of NAFI's operational assets and personnel which includes the assets and personnel comprising of the company's loan origination and servicing capabilities. NAFI had said that its future plans include loan originations for other consumer finance companies like Nuvell.
