Fitch's rating action is based mainly on UICI's improved risk profile and the reduced likelihood of liquidity needs from insurance company operations following the successful execution by United Credit National Bank (UCNB), a former UICI subsidiary, of its capital plan approved by the Office of the Comptroller of the Currency (OCC) in June 2000.
and AgION Technologies Enter Into an Approved Vendor Agreement DAM039 01/29/2001 15:33 r f bc-TX-UICI-United-Credit (DALLAS) UICI Announces Completion of Voluntary Liquidation of United Credit National Bank NYM131 01/29/2001 15:34 r f bc-MA-KeySpan-IslandEast (BOSTON) Islander East Pipeline Announces Open Season CGM062 01/29/2001 15:35 r f bc-MO-Integrity-Market (CARROLLTON) Integrity Marketing Solutions Gauges Attorney Response to Possible Repeal of Estate Tax NYM130 01/29/2001 15:37 r f bc-First-Albany-Dividend (ALBANY) First Albany Declares Regular Quarterly Cash Dividend SFM001G 01/29/2001 15:38 r f bc-CA-TiVo-Inc-CCOW (SAN JOSE) TiVo, Inc.
The Company's and its United CreditServ unit's future results also could be adversely affected by the inability to fully reserve for anticipated future credit card charge-offs and losses; the inability of the Company to generate cash from operations, from sales of assets and/or from the proceeds of debt and/or equity financings in an amount sufficient to fund in a timely manner future capital requirements at United Credit National Bank and operating losses at Specialized Card Services, Inc.
2 /PRNewswire/ -- UICI (NYSE: UCI) (the "Company") today announced that it had completed several recently-announced transactions, including the funding of all cash and collateral requirements of the United Credit National Bank Capital Plan, the sale of its National Motor Club unit and a restructuring of $70.
UICI Announces Series of Transactions to Fund Capital Plan UICI Announces Agreement in Principle to Refinance Outstanding Debt DALLAS, June 29 /PRNewswire/ -- UICI (NYSE: UCI) (the "Company") today announced that the Office of the United States Comptroller of the Currency has approved a definitive Capital Plan submitted by United Credit National Bank (a special purpose national bank headquartered in Sioux Falls, South Dakota, and an indirect, wholly-owned, subsidiary of UICI) ("UCNB").
The Company's and its United CreditServ unit's future results also could be adversely affected by the inability to fully reserve for anticipated future credit card charge-offs and losses; the inability of the Company to generate cash from operations, from sales of assets and/or from the proceeds of debt and/or equity financings in an amount sufficient to fund in a timely manner future capital requirements at United Credit National Bank and operating losses at Specialized Card Services, Inc.
The Company's and its United CreditServ unit's future results also could be adversely affected by the inability to fully reserve for anticipated future credit card charge-offs and losses; the inability of the Company to generate cash from operations, from sales of assets and/or from the proceeds of debt and/or equity financings in an amount sufficient to fund in a timely manner future capital requirements at United Credit National Bank and operating losses at Specialized Card Services, Inc.
