Standard & Poor’s Ratings Services revised its outlook on Fremont General Corp. to stable from negative and affirmed its ratings on the Santa Monica, Calif.-based company, including Fremont’s ‘CCC+’ long-term counterparty credit rating. At Dec. 31, 2002, Fremont had total assets of $6.7 billion.
“The change in outlook reflects Fremont’s positive momentum in earnings from continuing operations as well as the reduced exposure to its discontinued insurance operations,” said credit analyst Steven Picarillo.
In addition, the stable outlook is based on the expectation that the company will be able to maintain this improved earnings trend with improving asset quality measures.
Topics Trends
Was this article valuable?
Here are more articles you may enjoy.
A Little Behind Schedule, But Execs Say Sypher Insurance is on Track for May Debut 
Viewpoint: How Will the Middle East War Affect the Insurance Sector? 
Viewpoint: Insurance Broker Valuations – The Elephant in the Room 
Public Adjuster Accused of Swiping $600,000 in Hurricane Ian Insurance Payments 
