by Associated Press Published: August 29,2011
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 [...] [...]
by MBJ Staff Published: August 14,2011
Tags: bond, construction, debt, education, higher education
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 [...] [...]
by Associated Press Published: May 12,2011
Tags: banking and finance, debt, foreclosures, homes, houses, mortgages, real estate, recession
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 [...] [...]
by For the MBJ Published: April 26,2011
Tags: debt, debt counseling
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 [...] [...]
by Wally Northway Published: December 28,2010
Tags: credit, debt, electricity, energy, utilities
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 [...] [...]
by Wally Northway Published: November 17,2010
Tags: consumer confidence, credit, debt
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 [...] [...]
by Wally Northway Published: October 5,2010
Tags: banking and finance, credit, debt
WASHINGTON – Consumer loan delinquencies generally improved in the second quarter of 2010, as bank card, home equity loans, and auto loans all showed improvement according to the American Bankers Association’s Consumer Credit Delinquency Bulletin. The results were not as broadbased as the previous two quarters and, as a result, the composite ratio, which tracks delinquencies [...] [...]
by Wally Northway Published: October 1,2010
JACKSON — Fitch Ratings has affirmed the long-term and short-term Issuer Default Ratings (IDR) of Trustmark Corporation (TRMK) and Trustmark National Bank at “A-” and “F1,” respectively, following TRMK’s recent announcement of its intent to acquire Cadence Financial Corp. (CADE). In addition, Fitch lowered TRMK’s Individual Rating to “B/C” from “B.” The Rating Outlook remains [...] [...]
by Associated Press Published: September 29,2010
Tags: county government, debt
NATCHEZ — Adams County officials say they will have the existing debt substantial reduced by 2016. The Natchez Democrat reports that the board of supervisors recently reviewed its projected debt service plan on the current debt of $11 million. In the 2010 fiscal year, which ends Thursday, the county paid $2.96 million on principal and [...] [...]
by Wally Northway Published: September 15,2010
Tags: debt, debt rating, electricity, energy, power plants, utilities
ATLANTA — Fitch Rating has assigned a rating of “A” to the $400 million senior unsecured notes issued by the Southern Company (Southern). The new notes will mature Sept. 15, 2015. The proceeds of the notes will be used for the proposed redemption of all or a portion of $250 million of 5.75 percent senior [...] [...]
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