Posts Tagged ‘debt’

Majestic Star mulling alternatives to current debt structures

TUNICA — The Majestic Star Casino, LLC intends to consider alternative debt structures to refinance its existing first lien senior secured credit facility due Dec. 1, 2014, and second lien secured notes due Dec. 1, 2016. Proceeds from the refinancing will refinance commitments under the credit facility and the current principal balance on the notes. […] [...]

Fitch downgrades Baptist’s bond rating

JACKSON — Fitch Ratings has downgraded approximately $97.1 million Mississippi Hospital Equipment and Facilities Authority revenue bonds, series 2007A, issued on behalf of Mississippi Baptist Health System (MBHS) to from “BBB+” to “BBB”. The rating outlook is “stable”. Fitch wrote: The rating downgrade reflects MBHS’s profitability deterioration in fiscal year (FY) 2013 and through the […] [...]

FEMA forgives Coast city’s $5M-plus Katrina debt

PASCAGOULA — More than $5 million in loans approved for the city of Pascagoula after Hurricane Katrina in 2005 have been forgiven by the Federal Emergency Management Agency. The city was notified of the decision this week. After the storm, many businesses and services in Pascagoula shut down, causing the city to lose millions in […] [...]

A.M. Best upgrades Southern Farm Bureau’s ratings

RIDGELAND — A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of A+ (Superior) and the issuer credit ratings of “aa-” for the members of Southern Farm Bureau Casualty Group (SFB), namely, Southern Farm Bureau Casualty Insurance Company and its wholly owned subsidiary, Louisiana Farm Bureau Casualty Insurance […] [...]

Air service to Orlando could be on the horizon

Direct service from Jackson-Medgar Evers International Airport to Orlando could resume after Southwest Airlines’ departure  if airport officials receive a U.S. Department of Transportation grant they say they are confident of getting. The grant is the same one by which the airport gained service to New York City. The direct service to Orlando ceases with […] [...]

Vaya con Dios Southwest — last flight departed Jackson Saturday night

Southwest Airlines’ 7:05 p.m. Saturday flight to Houston’s Hobby International Airport brought to a close Jackson-Medgar Wiley Evers International’s 17-year relationship with the Dallas-based carrier.   The elimination also marks the airline’s first severing of service to a second-tier market serving a population of over 500,000 people. The only other two service closings occurred in Denver […] [...]

Fitch Ratings taking no action due to Kemper plant delay

KEMPER COUNTY — Fitch Ratings is not taking any rating actions following the latest cost revisions and schedule extension for the Kemper integrated gasification combined cycle (IGCC) project. On April 28, Mississippi Power announced another revision on the scheduled in-service date for Kemper IGCC and a further increase in the construction costs. Further cost increases […] [...]

JMAA’s airport revenue bonds downgraded due to loss of Southwest

JACKSON — Fitch Ratings has downgraded the Jackson Municipal Airport Authority’s airport revenue bonds of approximately $39.4 million to “BBB+” from “A-.” The rating outlook remains “stable. “ The downgrade reflects concerns related to the pending loss of the airport’s second largest carrier, Southwest Airlines Co. (Southwest, Fitch rated IDR “BBB” with a stable outlook), […] [...]

House members add more than $61m to Senate’s bill

JACKSON — Mississippi lawmakers are moving toward negotiations on state borrowing in the 2015 budget year. House members yesterday added $61.2 million before passing Senate Bill 2975. Representatives are seeking $30 million to allow the North Central Mississippi Regional Rail Authority to buy a rail line, $20 million to aid Tupelo’s Cooper Tire and Rubber […] [...]

Report: State could afford to borrow $1.8B over next five years

JACKSON — Mississippi could borrow $1.8 billion to use for new buildings, highways and economic development incentives over the next five years and rising state revenue probably could support that amount of borrowing, a report by Treasurer Lynn Fitch suggests. The Republican state treasurer compiled a debt-affordability study after agencies that rate Mississippi’s bonds said […] [...]

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