Mississippi Business Journal » credit

Moody’s cuts Coast city’s credit rating, cites cash reserves

Associated Press — Mon, 25 Feb 2013 12:56:42 +0000

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 [...]

The post Moody’s cuts Coast city’s credit rating, cites cash reserves appeared first on Mississippi Business Journal.

Fitch Ratings gives TVA bonds ‘negative’ outlook

MBJ Staff — Thu, 20 Dec 2012 19:03:36 +0000

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 [...]

The post Fitch Ratings gives TVA bonds ‘negative’ outlook appeared first on Mississippi Business Journal.

Hancock Fabrics amends, restates credit agreement

MBJ Staff — Mon, 26 Nov 2012 13:23:06 +0000

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, [...]

The post Hancock Fabrics amends, restates credit agreement appeared first on Mississippi Business Journal.

Committee chair vows to work on bond package next session

Associated Press — Fri, 09 Nov 2012 13:32:05 +0000

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 [...]

The post Committee chair vows to work on bond package next session appeared first on Mississippi Business Journal.

Fitch gives hospital bonds ‘negative’ outlook

MBJ Staff — Fri, 12 Oct 2012 11:27:23 +0000

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.” [...]

The post Fitch gives hospital bonds ‘negative’ outlook appeared first on Mississippi Business Journal.

Fitch Ratings ‘negative’ about senior student loan notes

MBJ Staff — Fri, 17 Aug 2012 19:02:52 +0000

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 [...]

The post Fitch Ratings ‘negative’ about senior student loan notes appeared first on Mississippi Business Journal.

Fitch downgrades Mississippi Power after PSC blocks rate hike

MBJ Staff — Tue, 03 Jul 2012 20:36:21 +0000

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 [...]

The post Fitch downgrades Mississippi Power after PSC blocks rate hike appeared first on Mississippi Business Journal.

Fitch returns rating status of Old Republic to ‘negative’

MBJ Staff — Wed, 27 Jun 2012 19:56:31 +0000

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 [...]

The post Fitch returns rating status of Old Republic to ‘negative’ appeared first on Mississippi Business Journal.

Full House lands financing to purchase Silver Slipper Casino

MBJ Staff — Wed, 02 May 2012 19:41:27 +0000

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. [...]

The post Full House lands financing to purchase Silver Slipper Casino appeared first on Mississippi Business Journal.

Southern AgCredit mailing dividends totaling $6.35M

MBJ Staff — Tue, 21 Feb 2012 13:48:59 +0000

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 [...]

The post Southern AgCredit mailing dividends totaling $6.35M appeared first on Mississippi Business Journal.