Geneva given a tough assignment

Poor old Geneva Finance. Last week I mentioned in the Good Returns Weekly Wrap that Standard and Poor's two-notch downgrade of the company, from B+ to B- seemed like pretty rough treatment from the rating agency.

As you could expect S&P were on the phone pretty quickly after reading the comments.

Since then plenty more has happened and it leaves lots of questions and thoughts in my mind.

A week ago my proposition, and I know it was one shared by many others in the industry, was that they felt S&P had essentially given Geneva some rough treatment.