Posts Tagged ‘debt’

Fitch gives state ‘negative’ bond rating; has problems with PERS

by Published: November 6,2013

Tags: bond, credit, credit rating, debt, Fitch, PERS, State of Mississippi

JACKSON — The Fitch credit rating agency has downgraded Mississippi’s bond rating outlook from stable to negative. The state’s bond rating remains AA+, only one notch below the highest AAA level, but the agency warns the rating could be lowered unless officials take steps to shore up finances. A lower bond rating would make it […] [...]

Fitch takes no action after Kemper plant cost, schedule changes

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. Last week, Mississippi Power Company (Mississippi Power) announced a revision in the scheduled in-service date for Kemper IGCC. The operational date is delayed to the fourth quarter […] [...]

Security Card walks away with bevy of awards

OXFORD — Security Card Services was recently recognized for its achievements and received multiple awards at the Vantiv Partnership Forum held in Boston. Vantiv Inc. awarded Security Card Services, an Oxford-based provider of merchant services processing, the following awards: • Outstanding Agent Bank Partner of the Year 2013 • Highest Rank in # of Banks […] [...]

Mayor proposes using rainy day money for city’s debt

TUPELO — Mayor Jason Shelton wants to use about $5 million from the city’s rainy day fund to pay off part of its $30 million in bonds. That could save up to $825,000 in interest over seven years, freeing up cash for big capital items such as fire trucks or tornado sirens, he told The […] [...]

Bank agrees to underwrite bonds for Delta town

LELAND — Planters Bank and Trust Co. will underwrite the sale of $1.5 million in bonds for the city of Leland. The Delta Democrat Times reports the Board of Aldermen accepted the company’s bid this past week. Planters’ bid was the only one the city received for the bond issue, which will be used to […] [...]

Fitch rates Forrest Health ‘A’; outlook is negative

HATTIESBURG — Fitch Ratings has affirmed the ‘A’ rating on Forrest Health, Miss.’s (FH) outstanding debt, listed at the end of this release. The Rating Outlook remains “negative.” SECURITY Debt payments are secured by a pledge of the gross revenues of the obligated group. KEY RATING DRIVERS WEAK OPERATING PERFORMANCE: The maintenance of the Negative […] [...]

Officials mull bond issue for road enhancements

SOUTHAVEN — The widening of Getwell Road to five lanes and extending Swinnea Road are two of the road improvements for which Southaven is looking at issuing $9.5 million in general obligation bonds. The Commercial Appeal reports the Board of Aldermen will consider a resolution expressing the intent of the city to issue bonds not […] [...]

UMMC to lease hospital; take on long-term debt

GRENADA — The University of Mississippi Medical Center plans to lease Grenada-Lake Medical Center for at least 20 years, paying for the lease by taking on the hospital’s $35 million in long-term debt. The College Board’s Finance Committee discussed the plan in a closed session today and the board is expected to vote tomorrow. The […] [...]

City holding more than quarter-million-dollar debt for yard work

VICKSBURG — The City of Vicksburg has $286,370 in uncollected debt on its books that some city officials say it might never fully recover. It’s money the city says 143 property owners owe for cutting, cleaning, clearing, and, in some cases, removing buildings from 238 parcels between 2009 and May. The State of Mississippi owns […] [...]

New mayor: City ‘is in serious trouble’

ITTA BENA, Miss. (AP) — Thelma Collins becomes mayor of the town of Itta Bena on July 1. Along with the job, she inherits a $500,000 debt. “The city of Itta Bena is in serious trouble,” Collins told the Greenwood Commonwealth. If the issues are not resolved, she said, “all of us will be shut […] [...]

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