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Latest Fitch Group Stories

2008-07-08 18:00:24

Fitch Ratings assigns an 'A' underlying long-term rating to the City of Cleveland, Ohio's airport system revenue bonds, series 2008A-H, scheduled for negotiated sale the week of July 14. Fitch also affirms its 'A' rating on the airport's approximately $909 million of outstanding parity debt. The Rating Outlook is Stable. Nearer to closing, Fitch expects to assign a short-term rating based on letters of credit from Wachovia Bank, National Association, U.S. Bank National Association, KBC...

2008-07-08 18:00:17

Fitch Ratings assigns an 'A+' rating to Miami-Dade County (the county), FL's approximately $68 million water and sewer system revenue bonds, series 2008A and $400 million water and sewer system revenue refunding bonds, series 2008B. The bonds are scheduled to price July 10, 2008 through negotiated sale. Proceeds from the series 2008A bonds, together with other available funds, will be used to pay a portion of the cost to terminate an interest rate swap agreement while proceeds from the 2008B...

2008-06-30 18:02:41

Fitch Ratings assigns an 'A+' to the Louisville Regional Airports Authority, Kentucky's (the authority), approximately $37 million airport revenue bonds 2008 series A (subject to the federal alternative minimum tax), scheduled for sale July 9th. Fitch also affirms its 'A+' rating for the authority's $382 million of outstanding airport revenue bonds. The Rating Outlook is Stable. The bonds are secured by the net revenues of the authority, primarily generated by the operations of Louisville...

2008-06-26 03:02:36

Fitch Ratings, New York Michael Burger, 212-908-0555 Jeff Schaub, 212-908-0680 Christopher Kimble, 212-908-0226 (Media Relations) Fitch Ratings has downgraded Rhode Island Health and Educational Building Corporation's $18.6 million series 1999 revenue bonds (St. Joseph Health Services of Rhode Island Issue; SJHS) to 'BB' from 'BBB-'. Fitch has also revised the Rating Outlook to Negative from Stable. The downgrade reflects SJHS' growing operating losses, a rapidly shrinking...

2008-06-25 15:00:00

Fitch Ratings has downgraded Rhode Island Health and Educational Building Corporation's $18.6 million series 1999 revenue bonds (St. Joseph Health Services of Rhode Island Issue; SJHS) to 'BB' from 'BBB-'. Fitch has also revised the Rating Outlook to Negative from Stable. The downgrade reflects SJHS' growing operating losses, a rapidly shrinking liquidity position, and poor debt service coverage. The financial deterioration is a result of the hospital's inability to respond effectively...

2008-06-24 02:30:29

Fitch Ratings has downgraded Delaware Health Facilities Authority (Nanticoke Health Services Project) outstanding bonds to 'BBB-' from 'BBB+' and places the rating on Rating Watch Negative. The rating downgrade is primarily due to Nanticoke Health Services' (NHS) sharp decline in utilization, which has resulted in increasing operating losses and weakening liquidity. Through nine months ended March 31, 2008 (the interim period), the NHS obligated group posted a negative 7.9% operating...

2008-06-24 02:30:29

Fitch Ratings assigns an 'A+' rating to approximately $528,245,000 Dormitory Authority of the State of New York (the authority) mental health services facilities improvement revenue bonds, consisting of $161,755,000 series 2008A, $79,950,000 series 2008B, $37,570,000 series 2008C (AMT), $207,370,000 series 2008D and $41,600,000 series 2008E. The series 2007D and 2007E bonds are being issued for refunding purposes. The bonds are scheduled to be sold June 25 through negotiation. Fitch also...

2008-06-24 02:29:30

Fitch Ratings Judi M. Rossetti, CPA, CFA, +1-312-368-2077 (Chicago) Wesley E. Moultrie II, CPA, +1-312-368-3186 (Chicago) Dorothy Goczal, +1-312-368-2095 (Chicago) Brian Bertsch, +1-212-908-0549 (Media Relations, New York) Fitch Ratings has affirmed the following ratings for Bunge Limited (Bunge) and its subsidiaries. Concurrently, Fitch affirmed the ratings for Corn Products International, Inc. (Corn Products). The Rating Outlook for all entities is Stable. Bunge Limited...

2008-06-19 18:00:22

Fitch Ratings earlier today revised the Outlook to Negative on the ratings of the two main Brazilian airlines, TAM and GOL. Fitch expects the near-term outlook for the global airlines sector to remain difficult, and the Brazilian airline sector is no exception. The negative outlook reflects Fitch's concerns regarding the challenges the industry is expected to face in the near-term, high jet fuel price being the predominant factor, which is likely to delay improvements in their operating...

2008-06-18 12:00:30

Fitch Ratings believes that U.S. packaged food and agribusiness companies face increased risk of credit deterioration as commodity prices soar, according to a special report. 'No company that operates along the food chain is immune from or hasn't felt the effects of high agricultural commodity costs,' said Wesley Moultrie, Senior Director, Fitch Ratings. 'Additionally, energy prices are also pressuring the operating segments of these companies.' The agribusiness segment is...


Word of the Day
cacodemon
  • An evil spirit; a devil.
  • A nightmare.
  • In astrology, the twelfth house of a scheme or figure of the heavens: so called from its signifying dreadful things, such as secret enemies, great losses, imprisonment, etc.
'Cacodemon' comes from a Greek term meaning 'evil genius.'
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