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 Associated Press Published: August 8,2012
Tags: city, debt, fine, garnish, garnishment, mayor, municipal government, municipality, paycheck, payment, tax, taxpayer
SOUTHAVEN — Mississippi Auditor Stacey Pickering paid a surprise visit to Southaven Mayor Greg Davis at a city meeting and announced plans to garnish the mayor’s paycheck. The Commercial Appeal reports Pickering returned $96,000 in disputed funds repaid by Davis last night, but announced plans to take the mayor’s paycheck to recover another $70,000. Pickering [...] [...]
by MBJ Staff Published: July 10,2012
Tags: air, air travel, airline, airplane, airport, aviation, bond, credit rasting, debt, jet, rating, revenue, transportation, travel
JACKSON — Fitch Ratings has affirmed Jackson Municipal Airport Authority’s outstanding $42.1 million airport revenue and refunding bonds at “A-.” The Rating Outlook remains “stable.” Fitch wrote: “Traffic is currently similar to levels prior to Hurricane Katrina where the airport served evacuees and recovery efforts following declines over the past five consecutive years. Stability is [...] [...]
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 [...] [...]
by Associated Press Published: June 12,2012
Tags: appropriations, bonds, debt, education, elementary schools, funding, funds, high schools, junior high schools, kindergartens, learning, municipal govertnment, revenues, school districts, schools, secondary schools, students, tax collections, taxes, taxpayers
JACKSON — Jackson residents will soon pay more in taxes supporting the city’s school district. When 81 percent of voters in 2006 approved a $150 million bond issue to build more schools and improve others, it meant they were willing to have property taxes raised to pay that debt. But city leaders didn’t raise taxes [...] [...]
by Associated Press Published: June 11,2012
Tags: borrowing, borrowings, county government, debt, disaster, disaster recovery, emergency management, federal agency, federal government, hurricanes, loan, loan forgiveness, loans, natural disastewr, severe weather, tropical storms, tropical weather, Weather
JACKSON COUNTY — The government has forgiven $10.5 million that Jackson County borrowed after Hurricane Katrina from FEMA’s Community Disaster Loan program. The Sun Herald reports the announcement came today during the county board of supervisors’ meeting. Over the years, the debt had grown to $12.6 million with interest. In a previous round of consideration, [...] [...]
JACKSON — Hinds County has agreed to take on more bond debt to build a parking garage for a proposed $1 billion development if developers provide repeatedly requested financial information. The Board of Supervisors narrowly voted to ask for $17 million in bonds if Full Spectrum South tells how much space is pre-leased, The Clarion-Ledger [...] [...]
by MBJ Staff Published: May 28,2012
Tags: debt, fraud, homebuyers, homes, houses, laons, mortgages, property, ratings, real estate, residences, residential real estate, residents
MADISON — Fitch Ratings has placed the ratings of Old Republic International Corporation’s (ORI) and its insurance company subsidiaries on rating watch positive. The ratings were previously on rating watch negative, where they had been placed Jan. 25, 2012. The rating includes Mississippi Valley Title Insurance Company of Madison, an ORI subsidiary. Fitch wrote in [...] [...]
by Associated Press Published: May 23,2012
Tags: bankrupt, bankruptcy, cloth, clothes, debt, fabrics, losses, retail, sales, sewing
BALDWYN — Hancock Fabrics faces many challenges, according to analysts and the company. The Baldwyn-based company last month reported it lost nearly $11.3 million in the most recent fiscal year. The fabric and craft retailer additionally had to cope with falling sales and self-admitted merchandise problems. In the past year, it’s also hired a new [...] [...]
by MBJ Staff Published: May 15,2012
Tags: bonds, corrections, debt, debt ratings, investing, investments, investors, jails, prisons, ratings
MARSHALL COUNTY and WILKINSON COUNTY — Fitch Ratings has withdrawn its ratings on the following bonds due to pre-refunding activity: • Mississippi Development Bank (MS) (MSLoan Prog-Mississippi Department of Corrections-Marshall County Correctional Facility Refunding Proj) general obligation special obligation bonds series 2008C (all maturities); and • Mississippi Development Bank (MS) (MSLoan Program-Mississippi Department of Corrections [...] [...]
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