Peachtree Settlement Funding
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Peachtree Settlement Funding Completes Securitization and Receives Positive Credit Ratings
BOYNTON BEACH, Fl., Dec 11, 2006--(BUSINESS WIRE)--Peachtree Settlement Funding ("Peachtree") heralded completion this week on it's 5th term securitization of structured settlement payments, bringing total issuance to nearly a half billion dollars and garnering interest rates and market terms which lead the industry. Such a securitization allows Peachtree to service a larger market of individuals that they may not have been able to assist in prior years, and certainly speaks of their supreme level of quality control.
Deborah Benaim, Peachtree's Vice President and Director of Structured Settlements, stated: "We had a fantastic year and we look forward to continued growth in 2007."
Peachtree's parent company, Peach Holdings, Inc., recently received debt ratings from both Moody's Investors Service and from Standard & Poor's Ratings Services of "B2" and "B" respectively. Such ratings provide an outlook of "stable" and are in conjunction with the syndication of a USD $335 million senior credit facility.
The ratings were announced in connection with the acquisition of Peach Holdings, Inc. by DLJ Merchant Banking Partners' affiliate Orchard Acquisition Company. Proceeds from the credit facility were primarily used to finance the acquisition.
Benaim's own outlook on the merger rang as positive as the credit ratings. "We are excited by the opportunities afforded with this merger and look forward to working with DLJ. We're also happy that Wall Street has confidence in the continued success of our business."
About Peach Holdings, Inc.
Peach Holdings, Inc., a Florida corporation, is the parent (holding) company of the Peach group of companies, including, among others, Peachtree Settlement Funding, Peachtree Pre-Settlement Funding and Peachtree LBP Finance Company (together, "Peachtree"). Peachtree is a specialty factoring company that purchases high-quality deferred payment obligations. Through its group of affiliated companies, Peachtree caters to people seeking to sell structured legal settlements, annuity payments, lottery prize payments, sweepstakes awards, and tobacco payments. In addition, Peachtree provides cash advances to people with pending personal injury claims. Peachtree has purchased over $2 billion of specialty receivables and continues to expand into new areas by bringing institutional financing and professionalism to bear on underserved markets. For further information you may contact Dustin Nelson toll free at 866-830-8545. Peachtree Settlement Funding's website address is www.settlementfunding.com.
