Quantcast

Latest Fitch Group Stories

2008-08-13 03:00:14

Fitch Ratings, New York Monica Aggarwal, CFA, +1-212-908-0282 Karen Ghaffari, CFA, CPA, +1-212-908-0708 Cindy Stoller, +1-212-908-0526 (Media Relations) Fitch Ratings has affirmed its ratings on CVS Caremark Corp. (CVS Caremark; NYSE:CVS) following the announcement that it has entered into a definitive agreement to acquire Longs Drug Stores Corporation (Longs; NYSE:LDG). The ratings are as follows: --Long-Term Issuer Default Rating (IDR) at 'BBB+'; --Senior unsecured bank...

2008-08-08 15:00:43

Fitch Ratings has affirmed the ratings of United States Steel Corporation (U.S. Steel) securities as follows: --Issuer Default Rating (IDR) 'BBB-'; --Senior unsecured notes 'BBB-'; --Senior unsecured revolving credit facility 'BBB-'; --Senior unsecured term loan 'BBB-'. The Rating Outlook for is stable. Fitch's ratings reflect U.S. Steel's relatively strong balance sheet and the strategic advantages associated with acquisitions made in 2007: U.S. Steel acquired...

2008-08-07 18:01:53

Fitch Ratings has downgraded approximately $41 million of New Jersey Health Care Facilities Financing Authority revenue bonds issued on behalf of Palisades Medical Center, Inc (PMC). The obligated group (Palisades) consists of PMC and Palisades General Care, Inc. (PGC), which includes the Harborage, a nursing home adjacent to the hospital. The Rating Outlook is revised to Stable from Negative. The downgrade to 'BB+' reflects flat utilization trends and several years of increasing...

2008-08-07 12:01:19

Fitch Ratings has affirmed Atmos Energy Corp.'s (Atmos) Issuer Default Rating (IDR) at 'BBB' and its senior unsecured debt rating at 'BBB+'. Approximately $2.12 billion of notes and debentures are affected by the rating action. In addition, Atmos' short-term IDR and debt rating relating to its $600 million commercial paper program are affirmed at 'F2'. The Rating Outlook remains Stable. The ratings and Stable Outlook reflect the scale, quality, and geographic and regulatory diversity of...

2008-08-07 09:00:48

Fitch Ratings has upgraded and removed from Rating Watch Positive the issuer default rating (IDR) and long-term debt ratings of Rural Cellular Corporation (Rural) to recognize the guarantees executed by Verizon Communications, Inc. (Verizon) following Verizon Wireless' announcement that it had completed the acquisition of Rural on Aug. 7, 2008: --Long-Term IDR to 'A+' from 'CCC'; --$510 million secured notes (second lien) due 2012 to 'A+' from 'B-/RR2'; --$325 million senior...

2008-08-06 18:00:38

Fitch Ratings assigns an 'AA' rating to the following series of revenue bonds issued by the University of Oklahoma Board of Regents on behalf of the University of Oklahoma Health Sciences Center (OUHSC or the university): --$45,820,000 tax-exempt series 2008A --$25,375,000 federally taxable series 2008B The series 2008A and 2008B bonds (the bonds), which are issued under OUHSC's revenue financing system (RFS), will fund a significant portion of the costs associated with...

2008-08-04 15:00:49

Fitch Ratings has published a special report today on the Dominican Republic electricity sector. With the sector teetering on the brink of financial distress, investors are again asking if the recently re-elected Fernandez administration now has the political will and conviction to fix the system. The stand-by agreement with the International Monetary Fund (IMF), which provided a framework for the sector to reach financial self-sustainability while providing a more efficient, reliable...

2008-08-01 18:00:35

Fitch Ratings has affirmed the Issuer Default Rating (IDR) and Insurer Financial Strength (IFS) ratings of Health Net, Inc. (Health Net) and its insurance operating subsidiaries (detailed rating list appears below). The Outlook on Health Net's ratings remains Negative. Today's rating action considers developments related to Health Net's operating performance in the first quarter of 2008 (1Q08), which resulted in the company reporting a $51 million pre-tax loss for the quarter, as well as...

2008-07-29 03:01:15

Fitch Ratings, New York Alan Spen, 212-908-0594 Joanne Ferrigan, 212-908-0399 or Media Relations: Brian Bertsch, 212-908-0549 Fitch Ratings affirms the underlying 'BBB+' rating of PowerSouth Energy Cooperative's (formerly Alabama Electric Cooperative, Inc.) outstanding bonds, as follows: --$50 million series 2007A; --$75 million series 2007B; --$40 million series 2007C. The Rating Outlook is Stable. The rating reflects PowerSouth Energy Cooperative's...

2008-07-28 12:01:00

Sempra Energy's announced purchase of EnergySouth, Inc. (ENSI, not rated by Fitch) has no ratings impact on SRE or its subsidiaries, according to Fitch Ratings. Fitch expects SRE to use new parent-level debt to finance the acquisition. The transaction is expected to close by year-end 2008. Fitch currently rates SRE as follows: --IDR 'A'; --Rating Outlook Stable. Adding the EnergySouth assets will not change SRE's operating risk profile. The gas storage assets provide...


Word of the Day
Cthulhu
  • A gigantic fictional humanoid alien god being described with a head resembling an octopus and dragon wings and claws, around whom an insane cult developed.
  • Pertaining to the mythos of Cthulhu and additional otherworldly beings created by H. P. Lovecraft or inspired by his writings and imitators.
This word was invented in 1926 by H.P. Lovecraft for his short story, 'The Call of Cthulhu.' 'Cthulhu' may be based on the word 'chthonic,' which in Greek mythology refers to the underworld.
Related