Home » NEWS » Banking & Finance (page 242)

Banking & Finance

Fitch rates state bonds 'AA'

JACKSON — Fitch Ratings has assigned “AA” ratings to the following State of Mississippi (the state) general obligation (GO) bonds: $340.375-million taxable GO bonds, series 2009D; $120-million taxable GO bonds, series 2009E; $64.145-million GO refunding bonds, series 2009F; and, $98.3-million GO Build America Bonds, series 2009G (Direct Payment – Federally Taxable). Additionally, Fitch has affirmed the “AA” rating on the ...

Read More »

SBA introduces course for female entrepreneurs

WASHINGTON — Women who own small businesses will be able to use a new online U.S. Small Business Administration (SBA) training course to learn how to identify and take advantage of federal contracting opportunities. The new training course, Winning Federal Contracts: A Guide for Women Entrepreneurs, is part of an ongoing government-wide initiative to promote opportunities for women-owned businesses in ...

Read More »

Dow closes above 10,000 for first time in a year

The Dow Jones Industrial Average closed above 10,000 today for the first time in a year in what some analysts are saying could be a good sign the overall market is recovering from the nearly two-year-old recession. “This rally is real,” said Clark Smith, a partner at Woodridge Capital in Jackson. “There’s no doubt it’s real.” The 30-stock index bottomed ...

Read More »

Bullard: New policy rule needed

ST. LOUIS, Mo. — During a speech Oct. 11 at the 51st-annual meeting of the National Association for Business Economics, St. Louis Fed president James Bullard reaffirmed the need for a Taylor-type policy rule for the Federal Reserve’s asset purchase program. Such a rule would help communicate how asset purchases may be adjusted as economic conditions change, while remaining consistent ...

Read More »

Advance Mississippi adds BankTEL

COLUMBUS and JACKSON — Advance Mississippi has gained a new member. BankTEL Systems, LLC, a financial software company, recently joined Jackson-based Advance Mississippi. “BankTEL Systems, located in Columbus, is pleased to join Advance Mississippi as we share the organization’s goals of promoting real, common sense energy solutions to help fuel Mississippi’s economic future,” said Boyce Adams Jr., vice president of ...

Read More »

'We got robbed the day we retired': Victims talk about Stanford debacle

Troy and Melanie Lillie of Maurice, La. lost their life’s savings in the Stanford Financial Group Ponzi scheme. “We got robbed the day we retired,” Melanie Lillie said in a post-hearing interview at the state Capitol Monday in Jackson. Her husband worked for Exxon Mobil in Baton Rouge for 29 years before retiring and instantly investing his retirement funds with ...

Read More »

ARRA boosts SBA loans

WASHINGTON — Changes under the American Recovery and Reinvestment Act (ARRA) to U.S. Small Business Administration (SBA) loan programs led to a rebound in SBA-backed loans for small businesses and greater access to much-needed capital. Since the ARRA was signed Feb. 17, SBA has supported more than $11.3 billion in lending to small businesses through its two largest loan programs ...

Read More »

Fitch removes negative watch from bonds

JACKSON — Fitch Ratings has affirmed 20 classes of senior bonds, removed the rating watch of “negative” and affirmed seven classes of subordinate bonds issued by Mississippi Higher Education Assistance Corporation (MHEAC) 1999 Trust. The rating outlook remains “stable” for the senior bonds. The actions are based on the improving credit profile of the trust as reflected by the parity ...

Read More »

CMI finally showing significant improvement

COLUMBIA, Md. — The combined Credit Managers’ Index (CMI) of the National Association of Credit Management for September rose to 49.8, bouncing back from a nearly stagnant August on the strength of some dramatic improvements in dollar collections and in reductions in accounts placed for collection and dollar amount beyond terms. September saw the biggest improvement in these sectors in ...

Read More »

Fitch withdraws Entergy ratings

JACKSON — Fitch Ratings has affirmed and simultaneously withdrawn its ratings for Entergy Corp. and its subsidiaries. Fitch assigned Entergy Corp. an issuer default rating (IDR) of “BBB-.” For Entergy Mississippi Inc., Fitch assigned an IDR of “BBB-,” a :BBB+” rating on its first mortgage bonds and “BBB-” to its preferred stock. Other Entergy subsidiaries rated include: Entergy New Orleans ...

Read More »