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 [...] [...]
MADISON — GBT Realty Corporation of Brentwood, Tenn., was scheduled to present the final plans and variance requests at the Jan. 9 meeting of the city of Madison’s Planning and Zoning Commission for the proposed Madison Promenade, but has deferred its request over TIF financing issues.
The roughly 26-acre first phase is located in the northeast [...] [...]
MADISON and HATTIESBURG — SECDE Ventures, LLC has closed on New Markets Tax Credit (NMTC) financing of $18 million for construction of Resinall Mississippi’s new hydrogenated hydrocarbon resin unit at its manufacturing facility in Hattiesburg.
SECDE combined $12 million of its NMTC allocation with $6 million of NMTC allocation from MuniStrategies and $15 million of bond [...] [...]
JACKSON COUNTY — Jackson County Supervisors have adopted a tax increment financing (TIF) redevelopment plan, which allows it to begin offering incentives on major developments.
The Mississippi Press reports tax increment financing is a reimbursement-based funding mechanism that uses future gains in taxes to finance infrastructure improvements on a property.
The county had to adopt the plan [...] [...]
by MBJ Staff Published: October 31,2011
Tags: biofuel, biorefinery, comstruction, electricity, energy, financing, GREEN ENERGY, power, sustainable energy, utilities
FULTON — BlueFire Renewables Inc. has entered into a memorandum of understanding (MOU) with China Huadian Engineering Co., LTD., to finance its integrated power plant and biorefinery in Fulton in Northeast Mississippi and up to five additional plants in the United States.
Under the MOU, Huadian will invest equity by purchasing an interest in BlueFire Fulton [...] [...]
CLARKSDALE — Enerkem Inc., a waste-to-biofuels and chemicals company, reports the closing of $30 million in additional financing through corporate equity ($15.3 million) and corporate debt ($15 million) transactions.
As part of the equity financing round, The Westly Group, Fondaction CSN and Quince Associates, L.P. join existing investors Valero Energy Corp., Waste Management, Rho Ventures, Braemar [...] [...]
OLIVE BRANCH — Soladigm has secured $30 million in Series C equity financing, and combined with previously announced manufacturing financing and other arrangements from the State of Mississippi will allow Soladigm to build and launch high-volume commercial operations and develop sales and marketing channels.
Soladigm, developer of Dynamic Glass, is based in Milpitas, Calif. Last August, [...] [...]
JACKSON — Hope Federal Credit Union has closed a $4.52-million secondary capital investment through the Treasury Department’s Community Development Capital Initiative.
According to Hope, it is one of the first credit unions to participate in this program, and will use the funds to increase financing to small businesses and home owners and promote development in economically [...] [...]
The latest Mortgage Monitor report released by Lender Processing Services Inc. shows that the total number of delinquent loans was 21.3 percent higher than the same period last year.
Although the data showed a small 1.45 percent seasonal decline in delinquencies from Jan. 2010 to Feb. 2010 month-end, the national delinquency rate still stood at 10.2 [...] [...]
by Wally Northway Published: April 1,2010
Tags: CMI, financing
COLUMBIA, MD — The most striking aspect of this month’s Credit Managers’ Index (CMI), issued by the National Association of Credit Management (NACM), is that sales in both the manufacturing and service sectors jumped—and at a pace not seen in over a year.
This reinforces the news from consumer demand studies showing that spending was [...] [...]
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