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Tag Archives: credit

Credit rater warns on Mississippi, citing economy and taxes

Another credit rating agency is warning that the financial outlook for Mississippi government finances is weakening. Standard & Poor’s Financial Services on Tuesday downgraded its outlook for state government credit rating to negative from stable. S&P didn’t actually cut Mississippi’s debt ratings, but warned that it could later, saying it expects a budget squeeze to continue because of slow economic ...

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Hood: Credit reporting agencies’ actions hurt consumers

Mississippi residents will receive three years of free access to their own credit reports under an agreement three credit reporting agencies have made with the state’s top legal officer. Experian, TransUnion, and Equifax agreed to overhaul their business practices after an investigation showed they made mistakes on consumers’ credit reports, Mississippi Attorney General Jim Hood said in a news release ...

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COMMERCIAL FINANCE 701 — CRE loans, credit underwriting & the Feds in 2016

US banks didn’t have to wait long to learn the Feds’ thoughts on commercial real estate (CRE) loans in 2016.  On December 18, 2015, the trio of federal bank regulators – the Federal Reserve Board, FDIC, and the Comptroller of the Currency – issued a dismal harbinger entitled “Statement on Prudent Risk Management for Commercial Real Estate Lending.” The four-page ...

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PSC approves Mississippi Power rate cut

Associated Press Mississippi utility regulators are approving a settlement cutting rates for consumers but paying Mississippi Power Co. for part of its Kemper County power plant. The Public Service Commission voted 3-0 Thursday to approve a previously announced agreement between the unit of Atlanta-based Southern Co. and the Public Utilities Staff. A residential customer using 1,000 kilowatt hours monthly, will ...

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Treasurer Fitch reports State credit on ‘positive trend’

A State of Mississippi bond issue set to close in mid February will raise the state’s bond debt to $4.17 billion, Treasurer Lynn Fitch told legislators last week. Mississippi ended 2014 with bond debt of $3.9 billion. Fitch said the State’s credit is on a “positive trend” she attributed to “disciplined spending on the part of the Legislature” and “conservative ...

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Fitch Ratings gives Trustmark a 'stable' outlook

JACKSON — Fitch Ratings has affirmed Trustmark Corp.’s (TRMK) ratings at “BBB+”/”F2”. The rating outlook remains “stable”. Fitch wrote: “TRMK’s ‘BBB+’ ratings reflect its good asset quality and the leading market share in TRMK’s home state of Mississippi and growing market share in other parts of the southeastern U.S. Furthermore, Fitch positively views the company’s risk appetite measured by relatively ...

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Majestic Star mulling alternatives to current debt structures

TUNICA — The Majestic Star Casino, LLC intends to consider alternative debt structures to refinance its existing first lien senior secured credit facility due Dec. 1, 2014, and second lien secured notes due Dec. 1, 2016. Proceeds from the refinancing will refinance commitments under the credit facility and the current principal balance on the notes. Majestic Star is a multi-jurisdictional ...

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Fitch downgrades Baptist's bond rating

JACKSON — Fitch Ratings has downgraded approximately $97.1 million Mississippi Hospital Equipment and Facilities Authority revenue bonds, series 2007A, issued on behalf of Mississippi Baptist Health System (MBHS) to from “BBB+” to “BBB”. The rating outlook is “stable”. Fitch wrote: The rating downgrade reflects MBHS’s profitability deterioration in fiscal year (FY) 2013 and through the eight-month interim period of 2014 ...

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A.M. Best upgrades Southern Farm Bureau's ratings

RIDGELAND — A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of A+ (Superior) and the issuer credit ratings of “aa-” for the members of Southern Farm Bureau Casualty Group (SFB), namely, Southern Farm Bureau Casualty Insurance Company and its wholly owned subsidiary, Louisiana Farm Bureau Casualty Insurance Company. Both companies are headquartered ...

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Fitch Ratings taking no action due to Kemper plant delay

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. On April 28, Mississippi Power announced another revision on the scheduled in-service date for Kemper IGCC and a further increase in the construction costs. Further cost increases and/or schedule extensions cannot be ...

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