- Language: English
- Published: October 2013
- Region: Colorado
Research Update: Fremont General Corp. CreditWatch Implications Revised To Developing From Negative May 07
- ID: 2087152
- May 2007
- Standard & Poors
On May 22, 2007, Standard & Poor's Ratings Services revised the CreditWatch implications on Fremont General Corp. (Fremont) to Developing from Negative. This action follows the announcement of the sale of Fremont's commercial real estate business to iStar Financial Inc. and the proposed minority investment in Fremont by an investor group led by Gerald J. Ford. Fremont is also selling its subprime residential real estate business to Ellington Capital Management. These transactions closing as expected would have a positive impact on Fremont's credit risk profile. The company has already liquidated some of its residential assets, reducing risk on the balance sheet. In addition to the $1.9 billion in upfront cash that the iStar transaction will generate, Fremont will benefit from...
Companies mentioned in this report are: Fremont General Corp.,Fremont Investment & Loan,iStar Financial Inc.
Action: On CreditWatch:Developing
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Fremont General Corp.,Fremont Investment & Loan,iStar Financial Inc.