Fremont General Financing 9% TOPrS (fka FMNPQ)

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Fremont Investment servicer quality rating cut to 'SQ4-' from 'SQ4' - Moody's
04.07.08, 3:16 AM ET

BANGALORE (Thomson Financial) - Moody's Investors Service said it downgraded the servicer quality rating of Fremont Investment & Loan to 'SQ4-' from 'SQ4' and that it maintains the rating on review for possible further downgrade.

The ratings agency said the downgrade follows the continued deterioration of financial and operating conditions, as well as the regulatory actions impacting Fremont and its parent, Fremont General Corp.

Moody's also said the rating action was prompted in part by recent management turnover at both Fremont and its parent.

The outlook for Fremont and Fremont General remains negative.

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