MADISON — Fitch Ratings has placed the ratings of Old Republic International Corporation’s (ORI) and its insurance company subsidiaries, including Mississippi Valley Title Insurance Company, on “Rating Watch Negative.”
Fitch reports: “The Rating Watch reflects uncertainty as to ORI’s ability to continue to avoid a covenant breach under its debt obligations in light of ongoing challenges [...] [...]
HERANADO — DeSoto County supervisors have approved refinancing $22 million in 2004 general obligation bonds, a move that could save $900,000.
The Commercial Appeal reports the board also approved a health coverage pact for county employees. The new plan keeps rates flat.
The current interest rate the county must pay from 2015 to 2024 ranges from 4.25 [...] [...]
by Associated Press Published: January 20,2012
Tags: bonds, colleges, debt, education, health, healthcare, higher education, hospitals, state government, universities
JACKSON — The state College Board has approved a $112 million bond issue for the University of Mississippi Medical Center, even though one board member questioned whether it was appropriate to borrow the money.
UMMC had originally proposed to use some of the money to buy software to comply with a federal requirement that it start [...] [...]
WAVELAND — The City of Waveland has borrowed $486,000 to pay on two public works bond issues from 2004.
Mayor David Garcia tells the Sea Coast Echo the city borrowed money against its anticipated 2012 property taxes.
In 2004, Waveland took out two bonds totaling more than $6 million for public works projects such as drainage, street [...] [...]
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, [...] [...]
LORMAN — Alcorn State University recently paid off its $680,000 revenue bond acquired in 1996 for constructing a residence hall on its Natchez Campus.
The project was completed in 1997 and it also included equipping and furnishing the dormitory initially intended for ASU School of Nursing students.
“With today’s concerns over long-term bond agreements and debt, this [...] [...]
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 scheduled for [...] [...]
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 deciding [...] [...]
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 [...] [...]
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 [...] [...]
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