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Tag Archives: Moody’s

Mississippi edges back into good graces of bond raters

By TED CARTER Mississippi’s $100 million in raids on its rainy-day fund and cuts of over $200 million in department and agency budgets the last two years showed bond raters the state can be serious about offsetting sagging revenue collections. The reward is a pair of ratings upgrades on around $350 million in 10-and-20-year general obligation bonds, as well as ...

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Rating firms’ visit will assess state’s bonding strength after setbacks

By TED CARTER Representatives of the nation’s three major credit ratings agencies will be in Jackson later this month to begin grading the credit strength of the state’s approximately $562 million general obligation bond for fiscal 2016-2017. The visit comes after Fitch Ratings Service recently downgraded the state’s current general obligation and revenue bonds and Moody’s put a “negative” outlook on ...

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With S&P suit settled, Mississippi set to take on Moody’s over flawed investment ratings

By TED CARTER A recent big-dollar settlement with Standard & Poor’s over misleading ratings put on sub-prime mortgage-backed securities before the 2008 financial collapse has cleared the way for Mississippi and Connecticut to resume a similar case against Moody’s Ratings Service. The two states put their action against Moody’s on hold during settlement negotiations with S&P that resulted in a Feb. ...

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BREAKING NEWS: Second agency cuts Mississippi Power Co.'s credit rating

JACKSON — Another credit rating agency has downgraded its view of Mississippi Power Co. Two of the three major agencies have now cut ratings after the Mississippi Public Service Commission denied Mississippi Power a rate increase to pay off debt during construction of its $2.8 billion Kemper County power plant. Moody’s Investors Service cut its rating on about $1 billion ...

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State: Moody’s calculations wrong

Managers of Mississippi’s defined public employee pension plan say Moody’s made too broad a calculation in setting the plan’s unfunded liabilities and are want the ratings agency to refigure the assets-to-obligations ratio. Moody’s, which includes pension obligations in its overall rating of a state’s credit worthiness, awarded Mississippi an “Aa” rating last October with an outlook of “stable.” The “Aa” ...

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