by Associated Press Published: February 25,2013
Tags: borrow, city government, community, credit, credit rating, hurricane, loan, municipal, municipality, natural disaster, reserves, Weather
GULFPORT — A credit agency has cut Gulfport’s rating by a notch. Moody’s Investors Service says the city’s cash reserves are suffering because of hurricane recovery projects the city hasn’t collected federal money for and because sales tax collections are lagging. John Kelly, Gulfport’s chief administrative officer, tells the Sun Herald the lower rating means [...] [...]
by MBJ Staff Published: December 20,2012
Tags: agency, bond, cooperative, credit, credit ratinmg, debt, debt rating, electric, electricity, elevtricity, enegy, energy, federal, government, power, utility
NORTH MISSISSIPPI — Fitch Ratings has assigned an “AAA” rating to the $1-billion 2012 series B Tennessee Valley Authority (TVA) global power bonds. The bonds were priced Dec. 18, 2012. Proceeds from the 2012 series B bonds will be primarily used to refinance outstanding debt. In addition Fitch awarded a parity global power bond rating [...] [...]
BALDWYN — Hancock Fabrics Inc. has entered into an amended and restated loan and security agreement. The new, $100-million senior secured asset-based credit facility matures in November 2016 and replaces the company’s existing revolving credit agreement, which would have matured in August 2013. General Electric Capital Corporation will serve as working capital agent, issuing bank, [...] [...]
by Associated Press Published: November 9,2012
Tags: apprpriation, bond, borrow, building, construction, credit, debt, finance, lawmaker, legislation, legislative, legislator, loan, state government
JACKSON — The Mississippi House and Senate will try to agree on a package of long-term borrowing next year, after failing to authorize one this past spring, a top lawmaker said. Senate Finance Committee chairman Joey Fillingane, R-Sumrall, said leaders want to cover the state’s needs without creating too much bond debt. The state issues [...] [...]
by MBJ Staff Published: October 12,2012
Tags: bond, clinic, credit, debt, health, health care, hospital, medical, medicine, outlook, rate, rating
HATTIESBURG — Fitch Ratings has affirmed its “A” rating on the following bonds issued on behalf of Forrest County General Hospital (Forest Health) (MS): — $70,000,000 Mississippi Hospital Equipment and Facilities Authority revenue bonds, series 2010; — $43,265,000 Mississippi Hospital Equipment and Facilities Authority, series 2009. The Rating Outlook is revised to “negative” from “stable.” [...] [...]
by MBJ Staff Published: August 17,2012
Tags: bank, banker, banking, bond, credit, debt, education, finance, financial institution, higher education, loan, state agency, student loan
JACKSON — Fitch Ratings has affirmed the senior student loan notes issued by Mississippi Higher Education Assistance Corp. (MHEAC), 1993 Trust Indenture. The Rating Outlook is “negative.” Fitch wrote: “The collateral supporting the notes comprises 95 percent cash and 5 percent student loans originated under the Federal Family Education Loan Program (FFELP). The Negative Outlook [...] [...]
by MBJ Staff Published: July 3,2012
Tags: credit, credit rating, debt, debt rating, downgrade, electric distribution, electric generation, elecvtricity, energy, power, Power plant, rate hike, ratepayer, state agency, utility
GULFPORT — Fitch Ratings has downgraded the Issuer Default Rating (IDR) of Mississippi Power Company (Mississippi Power) to “A-“ from “A” and revised the Rating Outlook to “negative” from “stable.” Fitch wrote: “The downgrade is driven by the recent Mississippi Public Service Commission (MPSC) order to deny Mississippi Power’s revenue increase request to earn a [...] [...]
RIDGELAND — Fitch Ratings has revised the rating watch status for Old Republic International Corporation (ORI) and its insurance company subsidiaries to “negative” from “positive” following the company’s announcement to withdraw the spin-off of Republic Financial Indemnity Group Inc. (RFIG). Fitch had most recently placed the ratings on rating watch positive March 23 after ORI’s [...] [...]
by MBJ Staff Published: May 2,2012
Tags: acquisition, casinos, Conventions, credit, financing, gambling, gaming, hospitality, lodging, meetings, mergers, purchase, restaurants, tourism, tourists, visitors
BAY ST. LOUIS — Las Vegas, Nev.-based Full House Resorts reports it has obtained financing commitments for new credit facilities totaling $75 million to fund the company’s acquisition of the Silver Slipper Casino. The financing will consist of a $55 million first lien credit facility and a $20 million second lien facility. Capital One N.A. [...] [...]
by MBJ Staff Published: February 21,2012
Tags: Banks, borrowers, crdit union, credit, customers, dividends, financial, financial institutions, financing, patronage
RIDGELAND — The Southern AgCredit board of directors recently approved a patronage dividend for borrowers based on the financing cooperative’s solid 2011 earnings. Checks are being mailed to customers in mid-February. Southern AgCredit customers will receive a check for their portion of the $6.35 million cash patronage, plus a statement detailing their share of the [...] [...]
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