Mississippi Business Journal » debt rating

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 [...]

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Fitch gives Mississippi Power ‘negative’ outlook; cites Kemper costs

MBJ Staff — Tue, 21 Aug 2012 15:21:50 +0000

GULFPORT — Fitch Ratings has rated Mississippi Power Company’s (MPC) issuance of $200 million series 2012A 4.25% senior notes due March 15, 2042 as “A.” These notes are part of the same series of debt securities as the $250 million senior notes issued on March 9, 2012. These notes are senior, unsecured obligations of MPC. [...]

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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 [...]

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Fitch puts Mississippi Valley Title on ‘Rating Watch Negative’

Associated Press — Thu, 26 Jan 2012 19:17:53 +0000

MADISON — Fitch Ratings has placed the ratings of Old Republic International Corporation’s (ORI) and its insurance company subsidiaries, including Mississippi Valley Title Insurance Company, on “Rating Watch Negative.” Fitch reports: “The Rating Watch reflects uncertainty as to ORI’s ability to continue to avoid a covenant breach under its debt obligations in light of ongoing [...]

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Fitch places student loan trusts on ‘Rating Watch Negative’

MBJ Staff — Wed, 28 Sep 2011 17:22:43 +0000

JACKSON — Fitch Ratings has placed 16 U.S. student loan ABS trusts on “Rating Watch Negative.” The action includes the Mississippi Higher Education Assistance Corp.-1999 Trust Indenture and Mississippi Higher Education Assistance Corp.-2004 Indenture of Trust. In taking the actions, Fitch has cast a wide net selecting trusts that contain more than 20 percent tax-exempt [...]

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Fitch makes rating decisions on three banks

MBJ Staff — Wed, 07 Sep 2011 17:55:01 +0000

GULFPORT and JACKSON — Fitch Ratings has made rating decisions on three banks. Fitch upgraded Whitney Bank’s long-term issuer default rating (IDR) to “BBB+” in the wake of the company’s June 2011 acquisition by Hancock Holding Company (HBHC). Additionally, Fitch has assigned initial long- and short-term IDRs to Hancock Holding and Hancock Bank of “BBB+/F2.” [...]

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Fitch rates airport bonds ‘A-’ despite drop in traffic

MBJ Staff — Thu, 14 Jul 2011 18:31:43 +0000

JACKSON — Fitch Ratings affirms Jackson Municipal Airport Authority’s outstanding $43.5-million airport revenue and refunding bonds at “A-.” The rating outlook remains “stable.” Fitch wrote: “The Jackson MSA is currently experiencing some setbacks from the economic recovery; however, Fitch expects resiliency in traffic levels given the airport’s limited competition from neighboring airports, with the closest [...]

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Fitch revises Whitney’s ratings after Hancock merger

For the MBJ — Tue, 07 Jun 2011 12:52:23 +0000

GULFPORT — With the closing of Hancock Holding Company’s (HBHC’s) purchase of Whitney Holding Corp (WTNY) June 4, Fitch Ratings has revised the “Rating Watch” on Whitney Bank (previously Whitney National Bank) to “positive” from “evolving.” Concurrent with this action, Fitch has withdrawn the ratings of Whitney Holding Corporation following the closing of the transaction [...]

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Fitch gives Memorial Hospital bonds an ‘A’

For the MBJ — Sun, 17 Apr 2011 23:59:12 +0000

GULFPORT — Fitch Ratings has affirmed at “A” two City of Gulfport, Mississippi bonds issued on behalf of Memorial Hospital at Gulfport (MHG). The bonds are $25.3 million hospital revenue refunding & improvement bonds, series 1994A and $59.5 million hospital revenue bonds, series 2001A. Fitch assigned the bonds a rating outlook of “stable.” Fitch wrote: [...]

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Fitch gives SMEPA bonds ‘A-’ and ‘stable’ outlook

Wally Northway — Thu, 30 Sep 2010 10:52:02 +0000

HATTIESBURG — Fitch Ratings has assigned an initial rating of “A-” to the following South Mississippi Electric Power Association (SMEPA) outstanding bonds:–$40 million Mississippi Business Finance Corporation Gulf Opportunity Zone bonds, series 2009A; –$22.645 million Claiborne County, MS pollution control bonds, 1985 series G1 and G2. In addition, Fitch also assigns an implied rating of [...]

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