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Latest Fitch Group Stories

2008-07-15 15:00:47

Fitch Ratings has assigned the following ratings to Black Hills Corp. (BKH) and Black Hills Power, Inc. (Black Hills Power) Black Hills Corp. --Long-term Issuer Default Rating (IDR) 'BBB'; --Short-term IDR 'F2'; --Senior Unsecured 'BBB'. Black Hills Power, Inc. --Long-term IDR 'BBB'; --Short-term IDR 'F2'; --First Mortgage Bonds 'A-'; --Unsecured PCRBs 'BBB+'. The Rating Outlook for both issuers is Stable. The ratings and Rating Outlook...

2008-07-15 15:00:37

Liquidity and credit quality are again at the forefront as the critical determinants of the U.S. airline industry's economic viability, according to Fitch Ratings. The sheer magnitude of increasing energy prices and resulting weak cash flows make further industry consolidation unworkable. Indeed, the mechanism for industry capacity rationalization is now financial distress and carrier liquidation as opposed to merger and acquisition activity. Over the second half of 2008, more forced...

2008-07-14 12:00:42

Record jet fuel prices and waning demand for air travel, particularly in North America and Western European markets, have placed increased pressure on many airlines, elevating the risk of default on leases and placing significant strain on values for certain aircraft types, according to Fitch Ratings. These stresses will result in declining asset performance in certain U.S. aircraft securitizations, leading Fitch to revise its asset performance outlook for aircraft securitizations to...

2008-07-12 00:00:23

Fitch Ratings Monica M. Bonar +1-212-908-0579 Sean T. Sexton, +1-312-368-3130, Chicago Brian Bertsch, +1-212-908-0549, Media Relations, New York Fitch Ratings has assigned an 'BBB+' rating to the following new senior notes from Alcoa Inc. (NYSE: AA): --$750 million, senior unsecured notes due 2013; --$750 million senior unsecured notes due 2018. The Rating Outlook is Stable. Fitch downgraded Alcoa's ratings on April 23 as a result of higher than expected debt levels...

2008-07-10 18:00:42

Fitch places four gas prepaid revenue bond transactions rated 'A+' on Rating Watch Negative, as follows: --Main Street Natural Gas, Inc. Gas Project Revenue Bonds, Series 2006B; --Main Street Natural Gas, Inc. Gas Project Revenue Bonds, Series 2007A --Roseville Natural Gas Financing Authority Gas Revenue Bonds, Series 2007A; --Long Beach Bond Finance Authority Natural Gas Purchase Revenue Bonds, Series 2007A and B. The rating action follows Fitch's placement on July...

2008-07-10 18:00:37

Fitch Ratings has downgraded the long-term ratings of Dow Chemical Company (DOW) and placed them on Rating Watch Negative following this morning's announcement that it is purchasing Rohm and Haas (ROH) for $18.8 billion which includes $3.5 billion in assumed ROH debt. In addition, the long-term ratings on Rohm and Haas has been placed on Rating Watch Negative as well. The short-term ratings of both companies have been affirmed. Ratings downgraded and placed on Rating Watch Negative are...

2008-07-10 15:00:49

Fitch Ratings has affirmed the Issuer Default Rating (IDR) and outstanding ratings for AGL Resources Inc. (AGL) and its two debt issuing subsidiaries Atlanta Gas Light Co. (AGLC) and AGL Capital Corp., as listed below. The Rating Outlook is Stable. Approximately $1.47 billion of outstanding long-term debt is affected. AGL Resources Inc. --IDR 'A-'. AGL Capital Corp. (Guaranteed by AGL) --IDR 'A-'; --Senior notes 'A-'; --Short-term IDR 'F2'; --Commercial...

2008-07-10 03:00:15

Fitch Ratings Robert Curran, +1-212-908-0515 (New York) Robert Rulla, CPA, +1-312-606-2311 (Chicago) Brian Bertsch, +1-212-908-0549 (Media Relations, New York) Fitch has affirmed the ratings of The Sherwin-Williams Company (NYSE:SHW) as follows: --Issuer Default Rating (IDR) 'A'; --Senior unsecured debt rating 'A'; --Revolving bank credit facilities 'A'; --Short-term IDR 'F1'. --Commercial Paper 'F1'; The Rating Outlook is Stable. The ratings and Outlook...

2008-07-08 18:00:24

Fitch Ratings assigns an 'A' underlying long-term rating to the City of Cleveland, Ohio's airport system revenue bonds, series 2008A-H, scheduled for negotiated sale the week of July 14. Fitch also affirms its 'A' rating on the airport's approximately $909 million of outstanding parity debt. The Rating Outlook is Stable. Nearer to closing, Fitch expects to assign a short-term rating based on letters of credit from Wachovia Bank, National Association, U.S. Bank National Association, KBC...

2008-07-08 18:00:17

Fitch Ratings assigns an 'A+' rating to Miami-Dade County (the county), FL's approximately $68 million water and sewer system revenue bonds, series 2008A and $400 million water and sewer system revenue refunding bonds, series 2008B. The bonds are scheduled to price July 10, 2008 through negotiated sale. Proceeds from the series 2008A bonds, together with other available funds, will be used to pay a portion of the cost to terminate an interest rate swap agreement while proceeds from the 2008B...


Word of the Day
siliqua
  • A Roman unit of weight, 1⁄1728 of a pound.
  • A weight of four grains used in weighing gold and precious stones; a carat.
  • In anatomy, a formation suggesting a husk or pod.
  • The lowest unit in the Roman coinage, the twenty-fourth part of a solidus.
  • A coin of base silver of the Gothic and Lombard kings of Italy.
'Siliqua' comes from a Latin word meaning 'a pod.'
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