Fitch Plcs Conseco Finance & Green Tree Hsg Bonds On Rtg Watch Negative

Fitch Plcs Conseco Finance & Green Tree Hsg Bonds On Rtg Watch Negative

Business Editors

NEW YORK–(BUSINESS WIRE)–Aug. 9, 2002

Fitch Ratings places Conseco Finance & Green Tree Finance Manufactured Housing Bonds on Rating Watch Negative and downgrades certain limited guarantee bonds.

This action follows Fitch’s downgrade of Conseco Finance Corp.’s (Conseco) senior debt rating to ‘CC’ from ‘CCC’. For more information regarding Fitch’s rating of Conseco Finance Corp., please see Fitch’s press release dated Aug. 7, 2002 and available on the Fitch Ratings web site at ‘www.fitchratings.com’.

These actions reflect Fitch’s heightened concerns regarding maintenance of the servicing quality in the manufactured housing portfolio.

Except for securities rated ‘AAA’ all bonds in the following series are placed on Rating Watch Negative:

Green Tree Financial Corp. and Conseco Finance Corp. manufactured housing contracts pass-through certificates:

–Series 1992-1;

–Series 1992-2;

–Series 1993-1;

–Series 1993-2;

–Series 1994-1;

–Series 1994-2;

–Series 1994-3;

–Series 1994-5;

–Series 1994-6;

–Series 1994-7;

–Series 1994-8;

–Series 1995-1;

–Series 1995-2;

–Series 1995-3;

–Series 1995-4;

–Series 1995-5;

–Series 1995-6;

–Series 1995-7;

–Series 1995-8;

–Series 1995-9;

–Series 1995-10;

–Series 1996-1;

–Series 1996-2;

–Series 1996-3;

–Series 1996-4;

–Series 1996-5;

–Series 1996-6;

–Series 1996-7;

–Series 1996-8;

–Series 1996-9;

–Series 1996-1;

–Series 1997-1;

–Series 1997-2;

–Series 1997-3;

–Series 1997-4;

–Series 1997-5;

–Series 1997-6;

–Series 1997-8;

–Series 1998-1;

–Series 1998-3;

–Series 1998-4;

–Series 1998-6;

–Series 1998-7;

–Series 1999-1;

–Series 1999-2;

–Series 1999-3;

–Series 1999-4;

–Series 1999-5;

–Series 2000-1;

–Series 2000-2;

–Series 2000-4;

–Series 2000-5;

–Series 2000-6;

–Series 2001-1;

–Series 2001-2;

–Series 2001-4.

Additionally, Fitch downgrades the limited guarantee bonds of the

company’s securitizations listed below to ‘CC’ from ‘CCC’. The bonds

will remain on Rating Watch Negative.

–Series 1994-3;

–Series 1994-5;

–Series 1994-6;

–Series 1994-7;

–Series 1994-8;

–Series 1995-1;

–Series 1995-2;

–Series 1995-3;

–Series 1995-4;

–Series 1995-5;

–Series 1995-6;

–Series 1995-7;

–Series 1995-8;

–Series 1995-9;

–Series 1995-10;

–Series 1996-1;

–Series 1996-2;

–Series 1996-3;

–Series 1996-4;

–Series 1996-5;

–Series 1996-6;

–Series 1996-7;

–Series 1996-8;

–Series 1996-9;

–Series 1996-10;

–Series 1997-1;

–Series 1997-2;

–Series 1997-3;

–Series 1997-4;

–Series 1997-5;

–Series 1997-6;

–Series 1997-8;

–Series 1998-1;

–Series 1998-3;

–Series 1998-4;

–Series 1998-6;

–Series 1998-7;

–Series 1999-1;

–Series 1999-2;

–Series 1999-3;

–Series 1999-4;

–Series 1999-5.

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