Mississippi Business Journal » reserves

Moody’s cuts Coast city’s credit rating, cites cash reserves

Associated Press — Mon, 25 Feb 2013 12:56:42 +0000

GULFPORT — A credit agency has cut Gulfport’s rating by a notch. Moody’s Investors Service says the city’s cash reserves are suffering because of hurricane recovery projects the city hasn’t collected federal money for and because sales tax collections are lagging. John Kelly, Gulfport’s chief administrative officer, tells the Sun Herald the lower rating means [...]

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Bryant’s budget proposal calls for spending cuts, more rainy day money

Associated Press — Wed, 01 Feb 2012 14:05:21 +0000

JACKSON — Gov. Phil Bryant proposed yesterday to cut state spending by $26 million to $5.49 billion in 2013 while also insisting on building $100 million in state reserves. The newly inaugurated Republican summarized his first budget as a “lot of cuts,” saying he won’t raise taxes and that state revenues have yet to recover [...]

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Callon adjustments made the difference

Laura Smith — Sun, 04 Apr 2010 06:01:22 +0000

Company restructured $200 million in debt until 2016; also recouped $45 million in royalties Two factors have helped Callon Petroleum Company remain healthy during the economic downturn: the renegotiation of long-term debt issue and the recoupment of $45 million in royalty payments. In December, the company restructured $200 million in debt issue until 2016, and [...]

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