News

Geneva gets a little ratings upgrade

Sunday 1st of May 2011

S&P now rates GFNZ, formerly Geneva Finance, "CCC-" and says the outlook is negative. GFNZ's sister company Quest Insurance Group holds the same rating and outlook.

That's an upgrade from the "SD," or selective default rating S&P previously awarded it because of its debt-for-equity swap, the alternative to which was receivership.

Holders of $4.4 million of subordinated not...

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