Posts Tagged ‘debt’
ACROSS MISSISSIPPI — The number of Mississippi homeowners facing foreclosure has taken a slight dip. Irvine, Calif.-based RealtyTrac, which tracks foreclosures nationwide, said that in April, foreclosure-related actions were taken against 361 properties in Mississippi. Those actions ranged from an initial notice of default to outright repossession by a lender. Last month, 149 properties were [...] [...]
JACKSON — CredAbility reports that in 2010, 27,818 consumers participated in its Debt Management Plans (DMP) and paid back more than $122 million to their creditors. The $122 million is a record for the 47-year-old nonprofit credit counseling organization, and a 3 percent increase from the $118 million paid back in 2009. “Many consumers are [...] [...]
ATLANTA — Fitch Ratings has revised the rating outlooks of the parent company of Mississippi Power, Southern Company (Southern; Fitch Issuer Default Rating [IDR] of ‘A’), and its subsidiary, Georgia Power Company (GPC; IDR of ‘A’) to “stable” from “negative.” In addition, the ratings of both issuers are affirmed. Fitch said: “The revision of Southern’s [...] [...]
ACROSS MISSISSIPPI — CredAbility has released the CredAbility Consumer Distress Index results for the 2010 third quarter. And Mississippi consumers nearly top the index. The index, a quarterly measure that tracks the financial condition of the average U.S. household, found that the incremental improvements in consumer financial health in the first half of 2010 have [...] [...]
WASHINGTON – Consumer loan delinquencies generally improved in the second quarter of 2010, as bank card, home equity loans, and auto loans all showed improvement according to the American Bankers Association’s Consumer Credit Delinquency Bulletin. The results were not as broadbased as the previous two quarters and, as a result, the composite ratio, which tracks delinquencies [...] [...]
JACKSON — Fitch Ratings has affirmed the long-term and short-term Issuer Default Ratings (IDR) of Trustmark Corporation (TRMK) and Trustmark National Bank at “A-” and “F1,” respectively, following TRMK’s recent announcement of its intent to acquire Cadence Financial Corp. (CADE). In addition, Fitch lowered TRMK’s Individual Rating to “B/C” from “B.” The Rating Outlook remains [...] [...]
NATCHEZ — Adams County officials say they will have the existing debt substantial reduced by 2016. The Natchez Democrat reports that the board of supervisors recently reviewed its projected debt service plan on the current debt of $11 million. In the 2010 fiscal year, which ends Thursday, the county paid $2.96 million on principal and [...] [...]
ATLANTA — Fitch Rating has assigned a rating of “A” to the $400 million senior unsecured notes issued by the Southern Company (Southern). The new notes will mature Sept. 15, 2015. The proceeds of the notes will be used for the proposed redemption of all or a portion of $250 million of 5.75 percent senior [...] [...]
GULFPORT — Fitch has taken various actions on the ratings of Southern Co., Mississippi Power Company (MPC) and Southern’s subsidiaries, including affirming the issuer default ratings (IDRs) and debt ratings of Southern and revising the outlook to “negative” from “stable.” Approximately $18.1 billion of long-term debt is affected by these rating actions. In addition, Fitch [...] [...]
Columbia, Md. — The trend in data this past week was hardly encouraging, resulting in another chorus of pronouncements regarding an imminent return to recession. The housing market remains in the doldrums, GDP numbers were revised down in reaction to the worsening trade deficit numbers and there was a decline in the markets. In the [...] [...]
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