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Business Wire (Free subscription) | 1 hour ago
CHICAGO--(BUSINESS WIRE)--Fitch Ratings downgrades the rating and underlying rating to 'BBB+' from 'A-' on approximately $27 million Hannibal Industrial Development Authority, MO revenue bonds, issued on behalf of Hannibal Regional Hospital (HRH). The downgrade is based on a dramatic reduction in liquidity balances, with unrestricted cash and investments dropping to $23.4 million as of Sept. 30, 2009...
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Business Wire (Free subscription) | 2 hours ago
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned a 'AA-' rating to the expected issuance of approximately $140 million Kentucky Economic Development Finance Authority hospital facilities revenue refunding and improvement bonds (Saint Elizabeth Medical Center, Inc. Project). Fitch also upgrades the rating on St. Elizabeth Medical Center's (St. Elizabeth) outstanding debt to 'AA-' from 'A+'. The...
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Business Wire (Free subscription) | yesterday
CHICAGO--(BUSINESS WIRE)--In the course of routine surveillance, Fitch Ratings affirms the 'AAA' rating on Maryland Water Quality Financing Administration's (the administration, or MWQFA) $47.6 million of outstanding revolving loan fund revenue bonds, series 2005A. The Rating Outlook is Stable. While the administration's 2005A bond indenture remains open, it is expected to be used only for refundings....
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Business Wire (Free subscription) | yesterday
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned an 'AA+' rating to $125 million in State of Texas (the state) general obligation (GO) water financial assistance bonds, consisting of: --$100 million, series 2009E (water infrastructure fund); --$25 million, series 2009F (economically distressed areas program). The bonds will be sold via negotiation on Nov. 17. Series 2009E matures Aug. 1, 2010-2029,...
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Business Wire (Free subscription) | yesterday
SAN FRANCISCO--(BUSINESS WIRE)--Fitch Ratings assigns an 'A' rating to Los Angeles County Capital Asset Leasing Corp., California's $24,695,000 lease revenue bonds, 2009 series A (LAC-CAL Equipment Program). The bonds will be sold competitively on Nov. 16, 2009. Also, Fitch affirms its 'A' rating on various issues secured by county lease rental payments and 'A-' rating on other issues secured by Los...
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Business Wire (Free subscription) | yesterday
NEW YORK--(BUSINESS WIRE)--An error was found in the short-term rating on the Fitch Ratings web site for the bond listed below: --Wake County (NC) variable-rate school bonds series 2004B (liquidity facility: Landesbank Hessen-Thueringen Girozentrale (Guaranteed Obligations)). The short-term rating for the above-referenced bond was incorrectly placed on Rating Watch Negative on Oct. 8, 2009. The correct...
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Business Wire (Free subscription) | 11/03/2009
NEW YORK--(BUSINESS WIRE)--In the course of routine surveillance, Fitch Ratings has affirmed the 'A-' rating on Little Salt Intercounty Drainage District, Michigan's approximately $1.1 million outstanding drainage bonds. The Rating Outlook is Stable. The 'A-' rating and Stable Outlook reflect the satisfactory security provisions, which include special assessment revenues and a limited tax pledge of...
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Business Wire (Free subscription) | 11/03/2009
NEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns an 'A+' rating to Okaloosa County, Florida's (the county) approximately $24.3 million in sales tax revenue bonds, series 2009A and series 2009B. At the time of issuance, the county will decide whether to issue the bonds as tax-exempt series 2009A or direct subsidy Build America Bonds (BABS) series 2009B. Proceeds will be used to finance the construction...
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Market Watch (Free subscription) | 11/03/2009
With the advent of tax-advantaged retirement accounts, municipal bonds lost a lot of their appeal to investors. The biggest advantage to muni bonds is that the income they generate is exempt from federal tax and, in the state in which they are issued, state tax. Of course, that's not an advantage when you're not paying taxes in your investment account.
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Business Wire (Free subscription) | 1 hour ago
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has withdrawn its implied 'A-' long-term rating on Long Beach Airport, California (LGB or the airport). The rating withdrawal is in conjunction with the assignment of an 'A-' rating to the following bonds: --Long Beach Airport Bureau (CA) senior airport revenue bonds, series 2009A; --Long Beach Airport Bureau (CA) senior airport revenue refunding bonds, series...
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Business Wire (Free subscription) | 1 hour ago
AUSTIN, Texas--(BUSINESS WIRE)--Fitch Ratings assigns an 'AA-' rating to Lake Arrowhead Community Services District, California's (the district) $24.1 million certificates of participation (COPs). In addition, Fitch affirms the 'AA-' rating on the $14.6 million of outstanding parity revenue bonds (prior to the refunding). The certificates will be used to fund the construction and acquisition of improvements...
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Business Wire (Free subscription) | 2 hours ago
NEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns a private placement rating of 'AA/F1+' to the Merrill Lynch P-FLOATs Series PT-4659. The 'AA' long-term component of the rating is based on the rating that Fitch has assigned to the Indiana Finance Authority, health system revenue bonds, series 2009A (Sisters of St. Francis Health Services, Inc. Obligated Group) (currently rated 'AA' by Fitch). The 'F1+'...
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Business Wire (Free subscription) | 4 hours ago
NEW YORK--(BUSINESS WIRE)--Though many formerly investment grade U.S. RMBS have been downgraded to distressed levels, ultimately principal and interest recoveries can be substantial, according to Fitch Ratings. Fitch analysts will discuss the process for assigning Recovery Ratings (RRs) to distressed RMBS bonds during a webcast to take place on Thursday Nov. 12 at 10:00 a.m. ET. The webcast, titled...
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