Posts Tagged ‘debt’

Fitch rates airport bonds ‘A-’ and awards stable outlook

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 […] [...]

Fitch downgrades Mississippi Power after PSC blocks rate hike

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 […] [...]

Capital City residents to pay more taxes to support schools

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 […] [...]

FEMA forgives county’s Hurricane Katrina loan

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, […] [...]

County will approve bonds for Old Capital Green, if given financial information

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 […] [...]

Fitch upgrades rating on Old Republic, subsidiaries to ‘positive’

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 […] [...]

Hancock Fabrics losses mount; faces many challenges

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 […] [...]

Fitch withdraws ratings on MDOC bonds for prison projects

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 […] [...]

Audit shows USM’s athletic department’s debt nearly doubled in one year

HATTIESBURG — The University of Southern Mississippi athletic department’s debt nearly doubled between the start of the 2010-11 fiscal year and fall 2011. An audit acquired through a public records request shows that the department owed $439,255 in fall 2010 and $790,398 last fall, The Hattiesburg American reports. Football was the only sport that did […] [...]

Casino’s foreclosure sale postponed; Bally agrees to discuss unpaid debt

by Associated Press Published: March 27,2012

Tags: acquisitions, casinos, condominium, debt, developer, foreclosure, gambling, gaming, mergers, tourism, tourists, visitors

VICKSBURG — Bally Gaming Inc. and the owners of Vicksburg’s Grand Station Casino have agreed to discuss unpaid $3 million debt. Vicksburg City Attorney Lee Thames tells the Vicksburg Post the foreclosure sale of the Grand Station Casino scheduled for yesterday has been postponed indefinitely. The casino was expected to be sold to settle all […] [...]

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