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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...

2008-07-18 00:00:14

Fitch Ratings John Culver, CFA, 312-368-3216 (Chicago) Bill Densmore, 312-368-3125 (Chicago) Brian Bertsch, 212-908-0549 (Media Relations, New York) Fitch Ratings has affirmed the long- and short-term Issuer Default Ratings (IDRs) for AT&T Inc. (AT&T) as follows: --Long-term IDR 'A'; --Short-term IDR 'F1'. In addition, Fitch has affirmed the ratings assigned to AT&T's debt classes and the IDRs and ratings of the other AT&T-related issuers listed at the end...

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...


Word of the Day
omadhaun
  • A fool; a simpleton: a term of abuse common in Ireland and to a less extent in the Gaelic-speaking parts of Scotland.
This word is partly Irish in origin.