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Tag Archives: credit

Fitch gives hospital bonds 'negative' outlook

HATTIESBURG — Fitch Ratings has affirmed its “A” rating on the following bonds issued on behalf of Forrest County General Hospital (Forest Health) (MS): — $70,000,000 Mississippi Hospital Equipment and Facilities Authority revenue bonds, series 2010; — $43,265,000 Mississippi Hospital Equipment and Facilities Authority, series 2009. The Rating Outlook is revised to “negative” from “stable.” Forrest Health owns and operates ...

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Fitch Ratings 'negative' about senior student loan notes

JACKSON — Fitch Ratings has affirmed the senior student loan notes issued by Mississippi Higher Education Assistance Corp. (MHEAC), 1993 Trust Indenture. The Rating Outlook is “negative.” Fitch wrote: “The collateral supporting the notes comprises 95 percent cash and 5 percent student loans originated under the Federal Family Education Loan Program (FFELP). The Negative Outlook on the senior notes is ...

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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 cash return on construction work ...

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Fitch returns rating status of Old Republic to 'negative'

RIDGELAND — Fitch Ratings has revised the rating watch status for Old Republic International Corporation (ORI) and its insurance company subsidiaries to “negative” from “positive” following the company’s announcement to withdraw the spin-off of Republic Financial Indemnity Group Inc. (RFIG). Fitch had most recently placed the ratings on rating watch positive March 23 after ORI’s announced plan to spin off ...

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Full House lands financing to purchase Silver Slipper Casino

BAY ST. LOUIS — Las Vegas, Nev.-based Full House Resorts reports it has obtained financing commitments for new credit facilities totaling $75 million to fund the company’s acquisition of the Silver Slipper Casino. The financing will consist of a $55 million first lien credit facility and a $20 million second lien facility. Capital One N.A. will serve as administrative agent ...

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Southern AgCredit mailing dividends totaling $6.35M

RIDGELAND — The Southern AgCredit board of directors recently approved a patronage dividend for borrowers based on the financing cooperative’s solid 2011 earnings. Checks are being mailed to customers in mid-February. Southern AgCredit customers will receive a check for their portion of the $6.35 million cash patronage, plus a statement detailing their share of the allocation that is eligible for ...

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Choctaws used credit to pay for casino construction

SANDERSVILLE — Although the Mississippi Band of Choctaw Indians said in May that profits from its casino had paid off its $18 million construction costs at its Bok Homa casino in Jones County, financial documents show that the tribe used a $10-million line of credit to help pay that cost. A campaign flier from Beasley Denson, the tribe’s miko, or ...

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State scores near top in consumer distress index

ATLANTA — CredAbility, one of the leading nonprofit credit counseling and education agencies in the United States, today released the CredAbility Consumer Distress Index results for the 2010 fourth quarter, and Mississippi posted the second-worst score. The Index, a quarterly measure that tracks the financial condition of the average U.S. household, found that rising stock prices helped propel growth in ...

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Fitch awards Southern Co. better outlook

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 outlook to ‘stable’ reflects the ...

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Study: Consumers' distress near tops in nation

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 been reversed due to weaker ...

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