MOODY'S UPGRADES 56 SUBORDINATE CLASSES FROM CONSECO FINANCE CORP.'S MH, HOME IMPROVEMENT AND HOME EQUITY DEALS
Moody's Investors Service has upgraded the ratings of fifty-six subordinate classes from Conseco Finance Corp.'s (formerly known as Green Tree Financial Corporation) manufactured housing, home improvement and home equity deals. The affected classes include Conseco Finance Corp.'s manufactured housing, home improvement and home equity classes that rely on a corporate guarantee from the company.
According to Pramila Gupta, a Moody's senior vice president, the rating actions were prompted by Moody's announcement on December 16, 1999 that the rating on Conseco Finance Corp.'s long-term senior debt securities had been raised to Baa3 from Ba1.
The complete rating actions are as follows:
Green Tree Manufactured Housing Contract Senior/Subordinated Pass-Through Certificates:
Series 1994-2; $25.209 mil., 8.55% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-3; $12.806 mil., 8.65% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-4; $20.017 mil., 8.60% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-5; $25.021 mil., 8.55% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-6; $30.185 mil., 9.00% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-7; $21.210 mil., 9.35% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-8; $31.392 mil., 9.40% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-1; $22.722 mil., 9.20% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-2; $16.457 mil., 8.80% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-3; $22.636 mil., 8.10% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-4; $12.804 mil., 7.70% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-5; $18.054 mil., 7.65% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-6; $17.845 mil., 8.00% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-7; $13.904 mil., 7.70% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-8; $19.197 mil., 7.65% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-9; $15.948 mil., 7.55% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-10; $16.212 mil., 7.40% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-1; $15.967 mil., 7.30% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-2; $18.618 mil., 7.90% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-3; $14.884 mil., 8.05% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-4; $16.615 mil., 8.10% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-5; $18.116 mil., 8.45% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-6; $16.625 mil., 8.35% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-7; $16.800 mil., 8.10% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-8; $21.052 mil., 8.30% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-9; $15.750 mil., 8.11% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1997-1; $17.500 mil., 7.76% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1997-2; $19.250 mil., 8.05% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1997-3; $28.000 mil., 8.03% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1997-4; $18.200 mil., 7.73% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1997-5; $19.250 mil., 7.49% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1997-7; $19.250 mil., 7.59% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1998-1; $15.750 mil., 8.11% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1998-2; $30.00 mil., 8.44% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1998-4; $20.00 mil., 8.11% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1998-5; $14.26 mil., 7.99% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1998-7; $34.00 mil., 8.24% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1998-8; $60.75 mil., 8.50% Class B-2 Certificates, upgraded to Baa3 from Ba1
Conseco Finance Securitizations Corp.:
Series 1999-6; $35.00 mil., 9.20% Class B-2 Certificates, upgraded to Baa3 from Ba1
Green Tree Home Improvement Loan Trust:
Series 1994-BI; $9.055 mil., 8.70% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-BII; $15.180 mil., 7.85% Class A-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-CI; $10.717 mil., 8.90% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-CII; $12.482 mil., 8.10% Class A-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-D; $9.871 mil., 9.30% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1994-E; $12.282 mil., 9.15% Certificates, upgraded to Baa3 from Ba1
Series 1995-A; $12.305 mil., 8.45% Class B Certificates, upgraded to Baa3 from Ba1
Series 1995-B; $12.179 mil., 8.15% Certificates, upgraded to Baa3 from Ba1
Series 1995-C; $8.409 mil., 7.60% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-D; $10.442 mil., 7.45% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1995-E; $32.241 mil., 6.80% Certificates, upgraded to Baa3 from Ba1
Series 1995-F; $8.022 mil., 7.10% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 1996-A; $5.626 mil., 7.40% Class B-2 Certificates, upgraded to Baa3 from Ba
Series 1996-B; $25.130 mil., 6.45% Class A Certificates, upgraded to Baa3 from Ba1
Green Tree Home Improvement and Home Equity Loan Trust:
Series 98-F; $24.75 mil., 10.08% Class B-2 Certificates, upgraded to Baa3 from Ba1
Series 99-B; $26.20 mil., 11.16% Class B-2 Certificates, upgraded to Baa3 from Ba1
Conseco Finance Home Loan Trust:
Series 99-G; $19.938 mil., 10.96% Class B-2 Certificates, upgraded to Baa3 from Ba1
Conseco Finance Corp., based in St. Paul, Minnesota, is a financial services company that originates and services manufactured housing, subprime mortgage and consumer loans.
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