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Latest Fitch Group Stories

2008-11-11 00:00:25

Fitch Ratings has assigned an 'A+' rating to Lower Colorado River Authority's (LCRA), $300 million refunding and improvement revenue bonds, series 2008A. The Rating Outlook is Stable. In addition, Fitch affirms LCRA's outstanding revenue bonds at 'A+' and LCRA's tax-exempt and taxable commercial paper (CP) programs at 'F1+'. Proceeds from the 2008A bonds will refund outstanding commercial paper, fund certain improvements to the system, and pay costs of issuance. The bonds are expected to...

2008-11-05 18:00:00

Fitch Ratings has downgraded the ratings of Verizon Communications Inc. (Verizon) (NYSE:VZ) as follows in anticipation of the close of the acquisition of Alltel Corporation (Alltel) by Cellco Partnership a Delaware general partnership doing business as Verizon Wireless (VZW). --Long-Term Issuer Default Rating (IDR) to 'A' from 'A+'; --Senior unsecured debt to 'A' from 'A+'; --$5.6 billion bank facility to 'A' from 'A+'. Fitch removed Verizon's ratings from Rating Watch...

2008-11-05 15:00:39

Fitch Ratings has upgraded the rating on approximately $63.3 million of North Carolina Medical Care Commission hospital revenue bonds (Southeastern Regional Medical Center), series 1999 and 2002 to 'A' from 'A-'. The Rating Outlook is revised to Stable from Positive. The upgrade is based on Southeastern Regional Medical Center's (SERMC) strong market position, essentiality of services, excellent liquidity measures, solid management team, and close affiliation with Duke University Medical...

2008-11-05 12:00:30

Fitch Ratings assigns a rating of 'BBB-' to approximately $25.5 million City of Rochester, MN health care facilities revenue bonds (Olmsted Medical Center (OMC) Project), series 2008. The Rating Outlook is Stable. Additionally, Fitch assigns a 'BBB-' rating to approximately $14 million of outstanding health care facilities revenue bonds issued on behalf of OMC. The outstanding bonds' respective par amounts (as of July 31, 2008) are as follows: --$5,155,000 Olmstead County, MN,...

2008-11-04 18:00:16

Fitch Ratings affirms its 'A-' underlying rating on the Alameda Power & Telecom (AP&T), CA's electric revenue certificates of participation (COPs) outstanding in the amount of $39.045 million, consisting of $29.5 million in 2000AT bonds and $9.545 million of 2000A bonds. The certificates are secured by a net revenue pledge of the electric system. The Rating Outlook on the long-term bonds is Stable. The 'A-' rating reflects the city's ongoing financial support of the...

2008-10-31 15:00:26

Fitch Ratings has affirmed the rating on approximately $39.9 million of Puerto Rico Industrial, Tourist, Educational, Medical, and Environmental Control Facilities Financing Authority's hospital revenue bonds (Mennonite General Hospital Project), series 1996A and 1997. The Rating Outlook is Stable. The affirmation is supported by Mennonite General Hospital's (MGH) consistent operating performance, solid utilization trends, good debt service coverage, and dominant market position. MGH...

2008-10-31 15:00:19

Fitch Ratings has affirmed the Issuer Default Rating (IDR) and outstanding debt ratings of Delta Air Lines, Inc. (NYSE:DAL) following the closing of Delta's merger with Northwest Airlines (NWA) as follows: -- IDR at 'B'; -- First-lien senior secured credit facilities at 'BB/RR1'; -- Second-lien secured credit facility (Term Loan B) at 'B/RR4'. In addition, Fitch is assigning the following ratings for Northwest Airlines, Inc., now a wholly-owned subsidiary of Delta: --...

2008-10-30 15:00:39

Fitch Ratings has assigned 'AA-' ratings to the New Mexico Hospital Equipment Loan Council's approximately $388.9 million hospital revenue bonds, series 2008 (Presbyterian Healthcare Services). In addition, Fitch has affirmed the 'AA-' rating on Presbyterian Healthcare Services' (PHS) outstanding series 2001A and the 'AA-' underlying ratings on the PHS' outstanding series 2005A&B bonds. The Rating Outlook is Stable. The series 2008 bonds are expected to consist of the following:...

2008-10-30 12:00:46

Fitch Ratings has assigned an 'A+' rating to Verizon Communications, Inc.'s (Verizon) (NYSE: VZ) proposed offering of $2 billion to $3 billion of senior unsecured notes. The proceeds will be used to repay commercial paper and for general corporate purposes. Verizon's long-term Issuer Default Rating (IDR) remains on Rating Watch Negative due to the pending acquisition of Alltel Corp. (Alltel) by Verizon Wireless (VZW). Verizon's short-term IDR and commercial paper rating were affirmed at 'F1'...

2008-10-28 12:00:35

Fitch Ratings has assigned an 'A' rating to the Municipal Energy Agency of Nebraska's (MEAN) $75.91 million 2008 series A subordinate power supply system revenue bonds. At the same time, Fitch has affirmed the 'A' on MEAN's outstanding prior lien and subordinate lien bonds. The Rating Outlook is Stable. Bond proceeds will be used to: --Pay the costs of acquiring a 23.5% interest in an 85 megawatt coal-fired plant (Wygen I Unit) and the capital improvements on the unit; --Redeem...


Word of the Day
tesla
  • The unit of magnetic flux density in the International System of Units, equal to the magnitude of the magnetic field vector necessary to produce a force of one newton on a charge of one coulomb moving perpendicular to the direction of the magnetic field vector with a velocity of one meter per second. It is equivalent to one weber per square meter.
This word is named for Nikola Tesla, the inventor, engineer, and futurist.