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Peach Renews Lottery Program Backing

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Peachtree Settlement Funding says a lender has renewed a credit facility that supports a lottery prize receivables purchasing program.

Peachtree, a unit of Peach Holdings Inc., Boynton Beach, Fla., set up the program to trade lump sums for lottery and sweepstakes pay streams.

The lender renewed the credit facility, in spite of a “very challenging credit environment,” because of the high quality of the assets backing the lottery and sweepstakes payment streams, Peachtree says.

The assets backing the streams are U.S. Treasury zero-coupon bonds, Peachtree says.

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