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Latest Fitch Group Stories

2008-10-13 12:00:36

Fitch Ratings has assigned a rating of 'AA(chl)' to the shelf registration (tranche A and tranche B) of Chilquinta`s Energia S.A. (Chilquinta) against the line of bonds No. 549 and No. 550. In addition, Fitch Chile has upgraded the shelf registration No. 549 and No. 550 to 'AA(chl)' from 'AA-(chl)'. The Outlook for all ratings is Stable. The rating action results from a stronger credit profile due to a reduction of the expected issuance volume and total expected debt levels to a maximum...

2008-10-07 12:00:36

Fitch Ratings Jesse Ortega, +1-415-732-5628 (San Francisco) Vanessa Roy, +1-212-908-0508 (New York) Michael McDermott, +1-212-908-0605 (New York) Media Relations: Cindy Stoller, +1-212-908-0526 (New York) Fitch Ratings assigns a long-term underlying rating of 'A' to bank bonds corresponding to variable rate demand obligations (VRDOs) issued by the Airport Commission, City and County of San Francisco, CA, San Francisco International Airport (SFO or the airport), second series...

2008-10-06 18:00:35

Fitch Ratings has placed Eli Lilly and Co.'s (Eli Lilly) Issuer Default Rating (IDR) and outstanding debt ratings on Rating Watch Negative as follows: -- IDR 'AA'; -- Bank loan 'AA'; -- Senior unsecured debt 'AA'; -- Short-term IDR 'F1+'. The ratings apply to approximately $4.61 billion of outstanding debt. The rating action follows Eli Lilly's announcement of a definitive merger agreement for ImClone Systems Inc. (ImClone) for $70 per share or approximately $6.5...

2008-10-01 12:00:31

Fitch Ratings has affirmed Eli Lilly and Co.'s (Eli Lilly) ratings as follows: --Issuer Default Rating (IDR) 'AA'; --Bank loan 'AA'; --Senior unsecured debt 'AA'; --Short-term IDR 'F1+'. The Rating Outlook is Stable. The ratings apply to approximately $4.61 billion of outstanding debt. The rating action reflects improving free cash flow generation since a low point reached in 2005, benefiting from a relatively solid intellectual property position and reduced...

2008-09-23 12:00:45

Fitch Ratings does not anticipate rating changes for Energy Transfer Partners, L.P. (ETP) and Energy Transfer Equity, L.P. (ETE) as a result of today's announcement of the planned formation of ETP Enogex Partners LLC (JVCo), a joint venture between ETP and OGE Energy Corp. (OGE). Current ratings for ETP and ETE are listed below and their Rating Outlooks are Stable. Energy Transfer Partners, L.P. --Issuer Default Rating (IDR) 'BBB-'; --Senior unsecured debt 'BBB-'. Energy...

2008-09-22 18:00:29

Fitch Ratings has assigned an 'A-' to the Long Island Power Authority's (LIPA) planned issuance of $549.9 million series 2008 A and B fixed rate electric system general revenue and refunding bonds. Proceeds from the 2008 bonds will be used for refunding and general capital purposes. Proceeds of the 2008A bonds will refund certain senior and subordinate bonds and proceeds from the 2008B bonds will be used to fund general capital expenditures. The bonds are scheduled to price via negotiation,...

2008-09-17 18:00:23

Fitch Ratings has affirmed the underlying 'A' rating on Covenant Health's (Covenant) approximately $210,000,000 million series 2006A and 2006B refunding and improvement bonds. Fitch also affirms the rating on the system's series 2002 bond issue. Additionally, Fitch has revised the Rating Outlook to Positive from Stable. Both bond series were issued by the Knox County Health Educational and Housing Facility Board. The 2006B bonds, originally issued as auction rate securities, are insured...

2008-09-11 09:00:40

Fitch Ratings affirms the outstanding ratings for Central Hudson Gas & Electric (CHG&E) as follows: --Issuer default rating (IDR) at 'A-'; --Senior Unsecured at 'A'; --Preferred Stock at 'A-'; --Short Term at 'F1'. The Rating Outlook is stable. The ratings reflect CHG&E's low business risk profile and adequate credit metrics for the company's current rating category. The low business risk assessment results from the limited commodity price exposure of...

2008-09-10 15:00:22

Effective Sept. 11, 2008, Fitch Ratings confirms the underlying 'A' rating to approximately $300 million City of Chicago, Illinois, general airport third lien revenue bonds (GARBs) O'Hare International Airport (O'Hare), consisting of $200 million in series 2005C and $100 million in series 2005D. The confirmation of the underlying rating is in connection with the recently assigned ratings to the 2005C and 2005D bonds, which were based on the application of Fitch's joint probability...

2008-09-10 12:00:51

Fitch Ratings Michael Burger, +1-212-908-0555 (New York) Jim LeBuhn, +1-312-368-2059 (Chicago) Cindy Stoller, +1-212-908-0526 (Media Relations, New York) Fitch Ratings has upgraded the rating on approximately $53.6 million of Indiana Health and Educational Facility Financing Authority hospital revenue bonds, issued on behalf of Jackson County Schneck Memorial Hospital (JCSMH) to 'A' from 'A-'. The Rating Outlook is Stable. The rating upgrade is based on JCSMH's very strong...


Word of the Day
cruet
  • A vial or small glass bottle, especially one for holding vinegar, oil, etc.; a caster for liquids.
This word is Middle English in origin, and ultimately comes from the Old French, diminutive of 'crue,' flask.
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