Business Services Industry
FirstPlus Cites New BB Rating From Duff & Phelps
Business Wire, Sept 17, 1998
DALLAS--(BUSINESS WIRE)--Sept. 17, 1998--Duff & Phelps yesterday announced that it has initiated debt ratings for FIRSTPLUS Financial Group, Inc. (NYSE:FP) with a BB rating for the Company's senior debt. (None is outstanding at the present time.)
Daniel Phillips, Chairman and CEO commented: "This BB rating indicates an understanding of FIRSTPLUS's progress in building its retail capability and brand awareness, increasing its financial strength and cash flow, and focusing on risk management. This rating represents a further step toward meeting our objective of becoming an investment grade company."
FIRSTPLUS Financial Group, Inc. is a diversified consumer finance company that originates, purchases, services and sells consumer finance receivables. FIRSTPLUS is headquartered in Dallas, Texas and has seven regional offices domestically, and a network of origination branches in the United States, and international operations based in Cardiff, Wales, the United Kingdom.
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