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Tag Archives: debt rating

Fitch gives SMEPA bonds 'A-' and 'stable' outlook

HATTIESBURG — Fitch Ratings has assigned an initial rating of “A-” to the following South Mississippi Electric Power Association (SMEPA) outstanding bonds:–$40 million Mississippi Business Finance Corporation Gulf Opportunity Zone bonds, series 2009A; –$22.645 million Claiborne County, MS pollution control bonds, 1985 series G1 and G2. In addition, Fitch also assigns an implied rating of “A-” on SMEPA’s remaining parity ...

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Fitch's outlook for Southern Co. is 'negative'

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 notes due Nov. 15, 2015, ...

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Mississippi Power downgraded due to IGCC plant

GULFPORT — Fitch has taken various actions on the ratings of Southern Co., Mississippi Power Company (MPC) and Southern’s subsidiaries, including affirming the issuer default ratings (IDRs) and debt ratings of Southern and revising the outlook to “negative” from “stable.” Approximately $18.1 billion of long-term debt is affected by these rating actions. In addition, Fitch has downgraded the IDR and ...

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Fitch withdraws city's rating coverage

PEARL — As part of its continuous surveillance efforts, Fitch Ratings withdraws its ‘BBB-‘ rating on the city of Pearl, Mississippi’s (the city) $1.355 million in outstanding tax increment limited obligation refunding and improvement bonds (Airport Metroplex Project), series 2002. Fitch said it made the move “due to lack of ongoing disclosure.” Fitch said it would no longer provide rating ...

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Entergy gives updated outlook

NEW ORLEANS — Entergy Corporation has issued 2010 earnings guidance assuming a business as usual operation for the full year as well as post-spin financial outlooks for Entergy and Enexus Energy Corporation. In addition, Entergy outlined its preliminary three-year capital expenditure plan for the period 2010 through 2012. J. Wayne Leonard, Entergy’s chairman and CEO, said, “With line of sight ...

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Fitch rates EastGroup Properties

JACKSON — Fitch Ratings has affirmed EastGroup Properties Inc.’s (EGP’s) ratings as follows: • Issuer Default Rating (IDR) at “BBB” • Unsecured lines of credit at “BBB” • Preferred stock (indicative) at “BBB-‘” The Rating Outlook is “stable.” Fitch wrote: “The affirmations center on the strength of EGP’s credit metrics as illustrated by solid debt service coverage, adequate liquidity, moderate ...

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Fitch rates state bonds 'AA'

JACKSON — Fitch Ratings has assigned “AA” ratings to the following State of Mississippi (the state) general obligation (GO) bonds: $340.375-million taxable GO bonds, series 2009D; $120-million taxable GO bonds, series 2009E; $64.145-million GO refunding bonds, series 2009F; and, $98.3-million GO Build America Bonds, series 2009G (Direct Payment – Federally Taxable). Additionally, Fitch has affirmed the “AA” rating on the ...

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Fitch removes negative watch from bonds

JACKSON — Fitch Ratings has affirmed 20 classes of senior bonds, removed the rating watch of “negative” and affirmed seven classes of subordinate bonds issued by Mississippi Higher Education Assistance Corporation (MHEAC) 1999 Trust. The rating outlook remains “stable” for the senior bonds. The actions are based on the improving credit profile of the trust as reflected by the parity ...

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Fitch withdraws Entergy ratings

JACKSON — Fitch Ratings has affirmed and simultaneously withdrawn its ratings for Entergy Corp. and its subsidiaries. Fitch assigned Entergy Corp. an issuer default rating (IDR) of “BBB-.” For Entergy Mississippi Inc., Fitch assigned an IDR of “BBB-,” a :BBB+” rating on its first mortgage bonds and “BBB-” to its preferred stock. Other Entergy subsidiaries rated include: Entergy New Orleans ...

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