SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: June 8, 1999
(Date of earliest event reported)
Commission File No. 333-71489
EQCC RECEIVABLES CORPORATION
EQCC ASSET BACKED CORPORATION
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59-3170055
DELAWARE 59-3170052
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(State of Incorporation) (I.R.S. Employer Identification No.)
10401 DEERWOOD PARK BOULEVARD
JACKSONVILLE, FLORIDA 32256
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Address of principal executive offices (Zip Code)
(904) 987-5000
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Registrant's Telephone Number, including area code
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(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5. OTHER EVENTS
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Documents incorporated by Reference
The consolidated financial statements of Ambac Assurance Corporation and
subsidiaries as of December 31, 1998 and December 31,1997, and for each of the
years in the three-year period ended December 31, 1998, included in the Annual
Report on Form 10-K of Ambac Financial Group, Inc. (which was filed with the
Securities and Exchange Commission on March 30, 1999) and the unaudited
consolidated financial statements of Ambac Assurance Corporation and its
subsidiaries as of March 31, 1999, and for periods ended March 31, 1999 and
March 31, 1998, included in the Quarterly Report on Form 10-Q of Ambac Financial
Group, Inc. for the period ended March 31, 1999 (which was filed with the
Securities and Exchange Commission on May 12, 1999) are hereby incorporated by
reference in (i) this Current Report on Form 8-K; (ii) the registration
statement (No. 333-71489) of the Registrant; and (iii) the Prospectus Supplement
and Prospectus each dated June 8, 1999, relating to EQCC Home Equity Loan Asset
Backed Certificates, Series 1999-2, and shall be deemed to be part hereof and
thereof.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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ITEM 601(A)
OF REGULATION S-K
EXHIBIT NO. DESCRIPTION
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(EX-23) Consent of KPMG LLP,
independent auditors of
Ambac Assurance Corporation
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrants have duly caused this report to be signed on their behalf by the
undersigned hereunto duly authorized.
EQCC RECEIVABLES CORPORATION
June 8, 1999
By: /S/ LENORE HANAPEL
_____________________________
Name: Lenore Hanapel
Title: Senior Vice President
EQCC ASSET BACKED CORPORATION
June 8, 1999
By: /S/ LENORE HANAPEL
_____________________________
Name: Lenore Hanapel
Title: Senior Vice President
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INDEX TO EXHIBITS
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PAPER (P) OR
EXHIBIT NO. DESCRIPTION ELECTRONIC (E)
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(EX-23) Consent of KPMG LLP, E
independent auditors of Ambac
Assurance Corporation
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INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration statement (No.
333-71489) of EQCC Receivables Corporation and EQCC Asset Backed Corporation
(the "Registrants"), and in the Prospectus Supplement relating to Series 1999-2
of the Registrants (the "Prospectus Supplement") via the Form 8-K of the
Registrants dated June 8, 1999, of our report dated January 27, 1999 on the
consolidated financial statements of Ambac Assurance Corporation and
subsidiaries as of December 31, 1998 and 1997, and for each of the years in the
three-year period ended December 31, 1998 which report appears in the Form 10-K
of Ambac Financial Group, Inc. which was filed with the Securities and Exchange
Commission on March 30, 1999 and to the reference to our firm under the heading
"Experts" in the Prospectus Supplement.
/s/ KPMG LLP
KPMG LLP
New York, New York
June 8, 1999
