Quantcast

Latest Fitch Group Stories

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...

2008-10-27 21:00:00

Fitch Ratings assigns an 'A' rating to $224 million Airport Commission, City and County of San Francisco, CA, San Francisco International Airport (SFO, or the airport), second series revenue notes, series 2008A AMT (subject to alternative minimum tax). Fitch also affirms its 'A' rating on the airport's $3.9 billion in outstanding debt. The Rating Outlook is Positive. The series 2008A revenue notes are up to five-year serial notes with near mandatory redemptions (to be adjusted by market...

2008-10-24 15:00:21

Fitch Ratings upgrades to 'A+' from 'A-' Muscatine Power & Water's (MPW) outstanding electric system revenue bonds. The Rating Outlook is Stable. The rating is supported by the electric utility's low-cost coal-fired generation, very competitive rates, and strong financial position with improved system liquidity (over 300 days of operations) as well as its accelerated debt pay-down and future financial flexibility. Favorably, MPW's rapid retirement of its electric revenue bonds (fully...

2008-10-21 18:00:22

Fitch Ratings has affirmed the 'A+' rating for the Kerrville Utility Board, TX's (KPUB) $13 million in outstanding electric revenue bonds. The Rating Outlook is Stable. The 'A+' rating reflects KPUB's stable and competitively priced wholesale power supply provided by the regional supplier - the Lower Colorado River Authority (LCRA; rated 'A+' with a Stable Outlook by Fitch), a retail electric rate structure that includes a cost recovery mechanism adjusted monthly to recover variable...

2008-10-21 15:00:25

Fitch Ratings has affirmed the debt ratings of Express Pipeline LLC/Express Pipeline LP (collectively, Express) as follows: --6.47% senior secured notes due 2013 at 'A-'; --6.09% senior secured guaranteed notes due 2020 at 'A-'; --7.39% subordinated secured notes due 2019 at 'BBB-'. The Rating Outlook is Stable. The ratings affirmation reflects expected continuing strong performance in excess of original base case projections. The majority of Express revenues are...

2008-10-21 15:00:21

Fitch Ratings has placed $16.5 million in outstanding Commonwealth Ports Authority (CPA), Commonwealth of the Northern Mariana Islands (CNMI), airport revenue bonds, 1998 senior series A, on Rating Watch Negative. The bonds are currently rated 'CCC'. Fitch's 'CCC' category rating indicates that default is a real possibility. Capacity for meeting financial commitments is solely reliant upon sustained, favorable business or economic conditions. The series 1998 bonds are secured by a pledge of...

2008-10-21 12:00:33

Fitch Ratings has assigned an 'A+' rating to the expected issuance of approximately $90 million Washington Health Care Facilities Authority revenue and refunding bonds series 2008 on behalf of Seattle Cancer Care Alliance (SCCA). The Rating Outlook is Stable. The series 2008 bonds are expected to be structured as traditional fixed rate bonds. Proceeds from the series 2008 financing will be used to: refinance existing series 2001 and series 2005 bonds, reimburse for prior year capital...

2008-10-20 12:00:31

Fitch Ratings assigns an 'AA-' rating to the expected issuance of up to $350 million of series 2008A-D revenue and refunding bonds to be issued on behalf of MedAmerica Health Systems-Miami Valley Hospital (MedAmerica) listed below. Approximately $200 million will be used to refund existing debt and up to $150 million to fund a new patient tower at Miami Valley Hospital. Final deal structure and bond sizing is dependent on market conditions. Further, Fitch affirms its 'AA-' long-term rating on...

2008-10-17 12:00:22

Fitch Ratings has affirmed the 'BBB+' rating on approximately $11.8 million Idaho Health Facilities Authority hospital revenue bonds (Idaho Elks Rehabilitation Hospital (Idaho Elks)), series 1998 currently outstanding. The Rating Outlook is Stable. The 'BBB+' rating reflects Idaho Elks' strong liquidity position, historical operating profitability, moderate debt burden, and dominant market share of rehabilitation services in the service area. At May 31, 2008 (draft audit), Idaho Elks had...


Word of the Day
reremouse
  • A bat.
The word 'reremouse' comes from Middle English reremous, from Old English hrēremūs, hrērmūs ("bat"), equivalent to rear (“to move, shake, stir”) +‎ mouse.
Related