Bulletin: Unitrin Inc. And Insurance Subsidiaries Ratings Unaffected By Sale Of Fireside Bank Loan Portfolio - S&P Global Ratings’ Credit Research

Bulletin: Unitrin Inc. And Insurance Subsidiaries Ratings Unaffected By Sale Of Fireside Bank Loan Portfolio

Bulletin: Unitrin Inc. And Insurance Subsidiaries Ratings Unaffected By Sale Of Fireside Bank Loan Portfolio - S&P Global Ratings’ Credit Research
Bulletin: Unitrin Inc. And Insurance Subsidiaries Ratings Unaffected By Sale Of Fireside Bank Loan Portfolio
Published Aug 09, 2011
Published Aug 09, 2011
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Abstract:

NEW YORK (Standard&Poor's) Aug. 9, 2011--Standard&Poor's Ratings Services today announced that the ratings on Unitrin Inc. and its property/casualty and life subsidiaries were not affected by Unitrin's announcement that it has signed a definitive agreement to sell its active loan portfolio at Fireside Bank to a subsidiary of Consumer Portfolio Services Inc. Unitrin decided to exit the automobile finance business in early 2009 and has been winding down its operations at Fireside ever since. The net automobile loan receivables at Fireside decreased to $255 million as of June 30, 2011, from $1.1 billion as of March 2009. The announced sale will accelerate the wind-down process, which was previously scheduled to run through early 2013. Fireside will

  
Report Type:

Bulletin

Ticker
UTR
Issuer
GICS
Multi-line Insurance (40301030)
Sector
Global Issuers
Country
Region
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Unitrin Inc. And Insurance Subsidiaries Ratings Unaffected By Sale Of Fireside Bank Loan Portfolio" Aug 09, 2011. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Unitrin-Inc-And-Insurance-Subsidiaries-Ratings-Unaffected-By-Sale-Of-Fireside-Bank-Loan-Portfolio-883897>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Unitrin Inc. And Insurance Subsidiaries Ratings Unaffected By Sale Of Fireside Bank Loan Portfolio Aug 09, 2011. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Unitrin-Inc-And-Insurance-Subsidiaries-Ratings-Unaffected-By-Sale-Of-Fireside-Bank-Loan-Portfolio-883897>
  
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