| AM Best Assigns Rating to Forthcoming Debt to Be Issued By the ...
OLDWICK, N.J.--(BUSINESS WIRE)--June 6, 2007--A.M. Best Co. has assigned an indicative rating of "bbb" to the forthcoming perpetual subordinated capital securities to be issued by the Society of Lloyd's (the Society) (United Kingdom). The outlook for the rating is positive, in line with the outlook of the issuer credit rating (ICR) on the Society. The rating of the debt issue reflects its subordination to payments in respect of the insurance liabilities of insolvent members, the existing subordinated loan notes (issued in 2004) and other unsecured senior obligations of the Society. A.M. Best anticipates that the securities will replace the annual syndicate loans in Lloyd's capital structure. This is likely to lower the cost of mutuality for the syndicate's members, whilst providing a stable resource to the Society that does not fluctuate with the insurance cycle and market capacity.
Credit One Financial Services, New Debt Consolidation Company ...
NEWARK, Del.--(BUSINESS WIRE)--Credit One Financial Solutions (www.creditonefs.com), a new financial services company formed by five former MBNA executives, held a Grand Opening today attended by Gov. Ruth Ann Minner. The new company, which already employs 51, offers debt consolidation solutions to responsible consumers with prime credit. At a ribbon-cutting ceremony today, the company said market demand for its products would result in a doubling of its workforce by the end of next year. "We see a real need among financially responsible consumers who want to consolidate their debt in a way that saves them money and enables them to pay off their debt faster," said Joseph DePaulo, Chief Executive Officer of Credit One Financial Solutions. "Unlike many traditional debt consolidation providers, Credit One can grant an immediate loan approval over the phone, allowing a customer to have his or her debt consolidated into a Personal Line of Credit by the time they hang up the phone." DePaulo said a Credit One Personal Line of Credit had two advantages over the better known method of transferring debt to a new credit card.
BBB Urges to Know the Facts about Reverse Mortgages
Raleigh, NC, May 30, 2007 --(PR.com)-- Beverly Baskin, president and CEO of the Better Business Bureau of Eastern North Carolina, advises long-term homeowners with equity built from homeownership, that a reverse mortgage can be a good investment. Reverse mortgages allow homeowners to turn their home equity into spendable cash without having to make monthly interest or principal payments.Under a reverse mortgage, the lender sends the borrower money via a lump-sum payment, a line-of-credit, monthly check or a combination of all three. The homeowner is not required to pay back any of the loan advances or interest until the loan term is over. Generally, no repayment is due until the borrower no longer occupies the house.Before venturing into a reverse mortgage the BBB, along with the Federal Trade Commission, suggest that homeowners consider the following facts:Reverse mortgages are rising-debt loans.
|
