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Latest Fitch Group Stories

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...

2008-08-28 18:00:51

Fitch Ratings has assigned an 'AA-' underlying rating to the General Authority of Southcentral Pennsylvania's approximately $427 million revenue bonds, series 2008A and 2008B (issued on behalf of WellSpan Health). In addition, Fitch has affirmed the 'AA-' underlying rating on WellSpan Health's (WellSpan) $445 million outstanding parity bonds. The Rating Outlook is Stable. The proceeds from the series 2008 bonds will be used to redeem a $105.7 million term loan (used to purchase the...

2008-08-28 15:01:06

Fitch Ratings has assigned an underlying 'A+' rating to the expected issuance of approximately $160 million hospital revenue bonds for Martha Jefferson Hospital (MJH) to be issued through the Economic Development Authority of Albemarle County. In addition, Fitch affirms the 'A+' rating on MJH's outstanding debt. MJH is the largest subsidiary of Martha Jefferson Health Services Corporation (MJHSC), which also includes two foundations and a medical practice management company. The Rating...

2008-08-27 15:00:00

Fitch Ratings has affirmed the 'BBB-' rating of OrCal Geothermal Inc.'s (OrCal) $165 million senior secured notes due 2020. While recent financial results have fallen short of Fitch's original projections, the affirmation reflects Fitch's expectation that OrCal's performance will not be permanently affected by current operational challenges. The Rating Outlook is Stable, as OrCal's revenues are derived from fixed-price power purchase agreements (PPAs) over the next few years. The rating...

2008-08-21 18:00:00

Fitch Ratings confirms its underlying 'AA' rating on the Harris County Facilities Development Corporation (Texas Children's Hospital's (TCH)) approximately $548.0 million outstanding bonds. The Rating Outlook is Stable. --$159,000,000 Harris County Health Facilities Development Corporation hospital revenue bonds (Texas Children's Hospital Issue), series 1999B-1; --$89,800,000 Harris County Health Facilities Development Corporation hospital revenue bonds (Texas Children's Hospital...

2008-08-21 15:01:07

The U.S. for-profit hospital industry recorded another strong performance during the second quarter, with minimal impact from the economic slowdown observed in the sector, according to a report by Fitch. In fact, providers reported continued favorable trends in volumes, pricing and bad debt expense. Although volume growth moderated from the first quarter when the flu season was in full effect, the industry still recorded positive admissions growth. Community Health Systems, Inc., Tenet...

2008-08-20 12:00:41

Fitch Ratings has revised the Outlooks for the U.S. Airports and Toll Roads sectors to Negative from Stable. According to the special report, 'U.S. Transportation Assets: Facing a Temporary Decline or a Permanent Change?', driving the outlook revisions are continued weakness in enplanements and toll-paying traffic that are being adversely affected by more than seven months of volatile fuel prices, economic weakness and inflationary pressures. Fitch analysts say that given continued...

2008-08-18 18:00:41

Fitch Ratings has affirmed the following ratings for Peabody Energy Corporation (NYSE: BTU): --Issuer Default Rating (IDR) at 'BB+'; --Senior unsecured notes at 'BB+'; --Senior unsecured revolving credit and term loan at 'BB+'; --Convertible junior subordinated debentures due 2066 at 'BB-'. The Outlook is Stable. The ratings reflect Peabody's large, well-diversified operations, good control of low-cost production, strong liquidity and moderate leverage. In...

2008-08-13 18:00:39

Fitch Ratings has affirmed the Long Island Power Authority's (LIPA) outstanding $5.5 billion electric system general revenue bonds (senior lien) at 'A-'. Fitch has also revised LIPA's Rating Outlook to Negative from Stable due to pending state legislation (A.6164/S.3410) that could affect its ability to maintain timely and full recovery of costs in the future. LIPA also has $979.7 million subordinate lien electric system revenue bonds that do not have underlying Fitch ratings but rather...

2008-08-13 12:00:51

Fitch Ratings has affirmed the ratings for MidAmerican Energy Holdings Co. (MEHC) and its subsidiaries, PacifiCorp (PPW), MidAmerican Energy Co. (MEC) and MidAmerican Funding Corp. (Funding) as follows: MEHC --Issuer Default Rating (IDR) at 'BBB+'; --Senior unsecured debt at 'BBB+'; --Trust preferred stock at 'BBB'; --Short-term IDR at 'F2'. PPW --IDR at 'BBB'; --Senior secured debt at 'A-'; --Senior unsecured debt at 'BBB+'; --Preferred stock...


Word of the Day
drawcansir
  • A blustering, bullying fellow; a pot-valiant braggart; a bully.
This word is named for Draw-Can-Sir, a character in George Villiers' 17th century play The Rehearsal.
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