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Latest Fitch Group Stories

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...

2008-09-05 15:00:31

Fitch Ratings assigns an 'A+' rating to approximately $394,765,000 Dormitory Authority of the State of New York (DASNY) mental health services facilities improvement revenue bonds, series 2008F. Fitch also affirms the underlying 'A+' rating on about $3.8 billion in outstanding mental health services facilities improvement revenue bonds, including the $72,500,000 series 2003C-2 bonds that are being converted from insured variable-rate to uninsured fixed-rate bonds with this transaction. The...

2008-09-03 18:00:25

Fitch Ratings assigns Marfrig Frigorificos e Comercio de Alimentos LTDA (Marfrig, or the company) Foreign and Local Currency Issuer Default Ratings (IDR) of 'B+'. Fitch has also assigned a 'B+/RR4' rating to the US$375 million senior unsecured bonds due 2016 issued by Marfrig Overseas Limited (a special-purpose vehicle wholly owned by Marfrig in the Cayman Islands), unconditionally guaranteed by Marfrig. Additionally, Fitch assigned Marfrig a National Scale rating at 'BBB+(bra)'. The Rating...


Word of the Day
snash
  • To talk saucily.
  • Insolent, opprobrious language; impertinent abuse.
This word is Scots in origin and probably imitative.