Credit Research News - February, 2008

Heads up: Credit rating agencies consider downgrading Sprint

Moody’s Investors Service and Standard & Poor’s Ratings Services on Friday both put Sprint Nextel on their lists of companies whose credit could be downgraded soon.

Truliant to promote identity theft protection

Truliant Federal Credit Union has partnered with identity theft protection firm LifeLock to provide services to its members

Sprint on credit rating 'watch lists'; stock falls

Two credit rating agencies today put Sprint Nextel on their list of companies whose credit could be downgraded soon.

MediaNews 'B' corporate credit rating placed on negative watch - S&P

Standard & Poor's Ratings Services said it has placed its ratings for MediaNews Group Inc, including the 'B' corporate credit rating, on negative watch.

ProLogis outlook revised to stable; corporate credit, debt ratings affirmed- S&P

Standard & Poor's Ratings Services said it has cut its outlook on ProLogis to stable from positive while affirming its 'BBB+' corporate credit

Stallion Oilfield outlook cut to negative; ratings affirmed - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it cut its outlook on Stallion Oilfield Services (NASDAQ:SOFS) Ltd to negative from stable

AIG Posts Hefty Loss In Q4 On Write-downs [AIG]

Thursday after the closing bell, American International Group Inc. (AIG), a provider of insurance and financial services

Regulator Lifts Caps on Fannie, Freddie

A federal regulator on Wednesday lifted restrictions on Fannie Mae(FNM - Cramer's Take - Stockpickr) and Freddie Mac(FRM - Cramer's Take - Stockpickr) amid signs the government-sponsored

Students feel credit crunch too

Those who attend for-profit institutions are learning that loans are becoming harder to obtain.

Brochure has tips on identity theft

A handy brochure on how to stop identity theft is popping up in mailboxes nationwide, courtesy of the U.S. Postal Service and the Federal Trade Commission. And frankly, I'd hang on to this one.

Lending companies reduce online advertising

The day after the federal government cut interest rates, LendingTree.com saw record traffic to its site for connecting borrowers and lenders.

Newtek Business Services to Announce Full Year 2007 Financial Results on Thursday, March 27, 2008

Newtek Business Services, Inc. (Nasdaq:NEWT) (www.newtekbusinessservices.com), a provider of business services and financial products

MDA announces strategic acquisition in the U.S. financial services sector

MacDonald, Dettwiler and Associates Ltd. (TSX: MDA) announced today a strategic expansion of its Information Products business

Badgerland FCS Members to Receive Cash Patronage Payments

The Baraboo-based Badgerland Farm Credit Services announced that it will be making $5.25 million in cash patronage payments

Credit union transfers 2 branches

1st United Services Credit Union has announced that it will transfer its NAS Lemoore and NAS Fallon branches to Navy Federal Credit Union.

LifeLock: Strengthen fraud laws

LifeLock Inc.'s chief executive officer is taking the offensive by proposing sweeping changes to how the three major credit bureaus

Man Gets $35 Service Credit From Comcast By Doing Math In His Head

I am one of the early adopters of Comcast's new TiVo service that is being rolled (see: rushed before ready) out in Massachusetts.

Municipal finance mkt disruptions to have modest effect on credit profiles - S&P

Standard & Poor's Ratings Services said certain investment vehicles consisting of municipal bonds wrapped by the troubled monoline

Security Service Federal Credit Union Revitalizes Data Storage With IBM

IBM announced that Security Service Federal Credit Union has implemented a new archive and data retention solution to dramatically improve data storage

RadNet Completes Growth Financing Transaction, Increasing Its Existing Credit Facilities

RadNet, Inc. (“RadNet”) (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective diagnostic imaging services

The Ensign Group Establishes $50 Million Credit Facility with GE Healthcare Financial Services

The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign(TM) group of skilled nursing, rehabilitative care services and assisted living companies

BankAtlantic Renews Credit Card Management Agreement With Barclaycard US

Barclaycard US today announced that BankAtlantic, one of the largest financial institutions headquartered in Florida

Slowing growth hits US lodging industry, credit outlook remains stable - S&P

Standard & Poor's Ratings Services said the US lodging industry's growth is seen to slow in 2008 on a slowing economy

Mobile Mini on negative watch on Mobile Services merger deal - S&P

Standard & Poor's (NYSE:MHP) Ratings Services signalled it may downgrade Mobile Mini Inc (NASDAQ:MINI) , after the provider of portable storage products

Economist blames U.S. credit crunch: Housing market not the problem, speaker says

Inflation and a credit crunch are the biggest problems threatening the U.S. economy as it nears a recession, Eugenio Aleman, a senior economist and vice president of Wells Fargo & Co.,

ITT Educational Services Offers an Investment for the Future

Education stocks have been hammered over the last few months.

House of credit

A growing dependence on credit cards is leaving the American consumer mired in debt

First Marblehead to Present at Credit Suisse 10th Annual Global Services Conference

The First Marblehead Corporation (NYSE: FMD) announced today that John A. Hupalo, Senior Executive Vice President and Chief Financial Officer

NW Farm Credit turns profit, makes predictions

And the beat goes on ... for Northwest Farm Credit Services, which has posted another in a long string of profitable years.

Discover lobbied on credit card fees

Discover Financial Services, which issues the Discover brand credit card, spent $400,000 in the second half of 2007

MAXIMUS to Present at the 10th Annual Credit Suisse Global Services Conference on February 25, 2008

MAXIMUS (NYSE:MMS), a leading provider of government services, announced today that Richard Montoni, Chief Executive Officer

S&P Cuts YRC Worldwide Credit Rating

Standard & Poor's Ratings Services cut its corporate credit rating on trucking company YRC Worldwide Inc. to "BB" from "BB+"

Security Service adds new executive to credit union's legal team

Security Service Federal Credit Union promoted Mike Cubeta to assistant vice president of legal services.

Credit reporting firm sues LifeLock over fraud alerts in consumer history files

Experian's lawsuit claims that identify theft protection service is itself engaging in fraud

Resources Global Professionals to Present at Credit Suisse 10th Annual Global Services Conference

Resources Global Professionals, a leading multinational provider of professional services and the operating subsidiary of Resources Connection

Chiquita Brands's 400 mln usd credit facility assigned 'B+' - S&P

Standard & Poor's Ratings Services said it assigned its 'B+' bank loan and '1' recovery ratings to Chiquita Brands LLC's 400 mln usd senior secured credit facility.

Global Credit Services to be Acquired by Investment Firm: Company Plans Major Growth Initiative

Global Credit Services to be Acquired by Investment Firm: Company Plans Major Growth Initiative in Its Flagship Product 'Premium

First Advantage Corporation Reports Operating Results for the Fourth Quarter of and Full Year 2007

First Advantage Corporation (Nasdaq: FADV), a global risk mitigation and business solutions provider, today announced operating results

BBB Warns Some Banks May be Trying to Take Your Money

BBB Warns Some Banks May be Trying to Take Your Money Protect Yourself when Applying for New Credit Cards and Bank Accounts

More People Tap 401(k) Accounts for Cash

Trent Charlton knew the risks when he borrowed $10,000 from his 401(k) and cut his retirement savings in half.

Farm Credit Services loan volume rises

Farm Credit Services of America reported loan volume grew by a record

When is a credit score repair service offer a scam?

By the end of 2007, Americans owed more than $915 billion in credit card debt, and the credit crunch is clearly impacting consumers

American Color Graphics 'SD' rating unchanged on credit waiver extension - S&P

Standard & Poor's Ratings Services said it kept its issuer rating of 'SD' (selective default) on American Color Graphics Inc unchanged

S&P Boosts Solera Ratings One Notch

Standard & Poor's Ratings Services on Tuesday raised its non-investment grade corporate credit rating and senior secured debt ratings

American Reprographics Company to Present at the Credit Suisse 10thAnnual Global Services Conference

American Reprographics Company (NYSE: ARP), the nation's leading provider of reprographic services and technology

Valassis to Present at the Credit Suisse Global Services Conference February 25, 2008

Valassis (NYSE: VCI), the nation's leading marketing services company, announced today that Robert L. Recchia, Valassis Executive Vice President and Chief Financial Officer

Farm Credit Services loan volume rises

Farm Credit Services of America reported loan volume grew by a record $1.7 billion in 2007, an increase of 16 percent for the year.

Spherion to Present at Credit Suisse 10th Annual Global Services Conference

Spherion Corporation , a recruiting, staffing and workforce solutions provider, today announced that William Grubbs, executive vice president and COO

Avoiding credit repair scams

Cleaning up your history could get you into bigger trouble if you get taken in. Here's how to see through a con game.

The Elements of an ID Theft Service

While Be Franklin said, "An ounce of prevention is worth more than a pound of cure", it is important to know that all Identity Theft Services

Banker: Make all pay to play

Citizens Bank Chairman Lawrence Fish has stirred up controversy within Massachusetts financial circles by insisting credit unions

Farm Credit Services loan volume rises

Farm Credit Services of America reported loan volume grew by a record $1.7 billion in 2007

Farm Credit Services earnings up 29 percent

Record growth in loan volume for Farm Credit Services of America in 2007 led to a 29 percent increase in annual earnings

Scholarship Opportunities for Indiana Ag Students

Two member-owned co-ops with offices and customers in Indiana have announced scholarship opportunities.

Financial readiness for service personnel

Tarek and Evibeth Bathiche are a young Army couple in a heap of debt.

'Degree fatigue' may be opportune time to assess future moves

I have a question about career paths. Ever since graduating from high school in 2000, I've worked full time in the finance industry

Enlisting Help In Financial Boot Camp

3 Service Families Pledge to Pay Down Debts and Shape Up Their Spending

Free tax services may boost refunds

RoseMary Feldmann panicked when she received an income tax refund check $1,000 over the amount she expected.

S&P cuts ratings on homebuilders

Standard & Poor's (NYSE:MHP) Ratings Services on Friday cut the ratings on homebuilders Centex Corp. (NYSE:CTX) , Beazer Homes USA Inc.

Credit Card Debt Consolidation Services - Simple Ways To Repay Your Credit Card Debt

The credit card consolidation services are designed to assist debtors in repaying their credit related arrears at much lower costs

Farm Credit Scholarship deadline approaching

A Feb. 29 deadline is approaching for applications for Farm Credit Services of Mid-America (FCS) scholarships.

Emcor 375 mln usd senior secured revolving credit facility rated 'Ba1' - Moody's

Moody's Investors Service said it has assigned its 'Ba1' rating to Emcor Group Inc's (NYSE:EME) 375 mln usd senior secured revolver credit facility

Foamex corporate credit rating cut to 'B-' on weak financial profile - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it has cut the corporate credit rating on foam manufacturer Foamex LP to 'B-' from 'B'

Global BPO: PNC Lead Lender, Agent For $108.7 Million Credit Lines

Global BPO Services Corp. (OOO) said PNC Bank agreed to act as lead lender and agent for $108.7 million in senior-secured credit facilities.

Morgan Stanley to cut back on mortgage operations

Morgan Stanley, the U.S. investment bank, has announced plans to cut 1,000 jobs as it trims its residential mortgage operations

Moody's Reviewing Building Materials

Moody's Puts Building Materials Holding Corp. on Review for Possible Downgrade

Negotiating Refinancing Fees

My younger brother Joe and his wife Rhonda are planning on refinancing their mortgage.

Legends Gaming rating cut to 'CCC+', remains on negative watch - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it has lowered its corporate rating for Legends Gaming LLC to 'CCC+' from 'B-'

Primus Financial Products'AAA' issuer credit rating affirmed - S&P

Standard & Poor's (NYSE:MHP) Ratings Services affirmed its 'AAA' issuer credit rating on Primus Financial Products LLC

S&P opts not to downgrade Danaher credit

Standard & Poor's (NYSE:MHP) Ratings Services on Wednesday stood behind its credit ratings for diversified manufacturer Danaher Corp.

Corinthian Colleges to Present at the Credit Suisse 10th Annual Global Services Conference

Corinthian Colleges, Inc. (Nasdaq: COCO) announced today that Jack Massimino, chief executive officer and Ken Ord, chief financial officer

SSKA executive director to address credit unions on self-service technology

David Drain, the executive director of the Self-Service & Kiosk Association, will explain how credit unions can better use self-service technology

G&K Services to Present at the Credit Suisse Global Services Conference

G&K Services, Inc. (Nasdaq:GKSR), a market leader in branded identity apparel programs and facility services, is scheduled to present at Credit Suisse Global Services

Farm Credit Services gives back

FCS Financial will return $3.7 million to its member-owners in cash patronage for the 2007 calendar year.

Business news and notes

Richard Schilling, a dairy farmer from Fort Ripley, was re-elected to his second term as state president of the Minnesota National Farmers Organization.

Recession Proof Your Finances -- Money Advice from Consolidated Credit Counseling Services, Inc

Struggling consumers are worried about how economic decline in coming months could affect their wallets. Consumer confidence dropped in January; money and budget pressures are increasing

A very wide loophole for unsolicited cards

Vivikka Molldrem of Edgewater was perturbed to find a Wal-Mart Discover Card in her name sitting in her home mailbox last month.

US metals, mining sector's recent credit improvements likely to slow - S&P

Standard & Poor's (NYSE:MHP) Rating Services said the biggest risk US metals and mining companies will face in the next several months

Kelly Services Presents at Credit Suisse's 10th Annual Global Services Conference

Kelly Services, Inc. (NASDAQ: KELYA) (NASDAQ: KELYB), a world leader in human resources solutions, today announced it will be presenting at the Credit Suisse

Cheapest credit card site planned

A credit card comparison website run by the country's financial watchdog to help consumers find the cheapest deals is in the pipeline.

New Hitches In Markets May Widen Credit Woes

A widening array of financial-market problems threatens to trigger a new phase in the global credit crunch, extending it beyond the risky mortgages

H&R Block Announces Programs to Help Taxpayers Claim EITC, Other Benefits for Low-Income Families

H&R Block (NYSE: HRB: 18.77, +0.01, +0.05%), which filed more Earned Income Tax Credit (EITC) claims than any other tax preparer in 2007

Making use of earned income tax credit

For years, Sandra Rascon filed her own tax return, never knowing that she was missing a huge tax credit

Finding free tax services

Many taxpayers can get free tax help from IRS-sponsored programs at neighborhood community centers, libraries, schools

Never see the inside of a bank again?

Bank branch offices are obsolete. Still, many of us are forced by the medieval mindset of financial institutions

New rural lending institution opens

The community turned out and filled the new facility of Farm Credit Services of Mid-America Friday at an open house.

Tiny Firm Gives Ratings Giants Another Worry

For the past 12 years, Sean Egan has slogged away in offices near Philadelphia, trying to establish his tiny credit-rating firm as an alternative to the industry's three giants.

Red Cross taking nominations for Heroes breakfast

The Ross County chapter of the American Red Cross is still accepting nominations and sponsors for its annual Heroes Breakfast

S&P Upgrades Avista Ratings One Notch

Standard & Poor's Raises Avista Corp. Corporate Credit Rating One Notch to Investment Grade

Cerberus Chairman: Will Restructure Chrysler And GMAC

The chairman of Cerberus Capital Management LP on Friday promised "a lot of restructuring" and improvement in the balance sheets

Rating agency efforts not enough, say critics

Plans to make changes by big three credit rating agencies labeled 'window dressing' by some and 'too little, too late' by others.

Credit card bill of rights?

Airline passengers aren't the only ones pushing for a bill of rights.

Credit Unions Give Banks a Run for Their Money

No longer are credit unions simply mom-and-pop operations.

Moody's sees more credit turmoil, profit tops views

Moody's Corp on Thursday said market turmoil has reduced demand for credit ratings and will depress earnings and revenue in 2008

William H. Cary named President and CEO of GE Money

William H. “Bill” Cary has been named president and CEO of GE Money, a leading global provider of credit services to retailers

Do you feel possessed by your credit cards?

You promised yourself 2008 would be the year you stopped your bad financial habits. Just like you did last year.

Norbord's long-term corporate credit rating cut to 'BB', outlook negative - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it cut its rating on Norbord (TSX:NBD) Inc including the long-term corporate credit rating to 'BB' from 'BBB-'

Carbon Credit Environmental Services Creates New Certification for GHG, CO2 Emissions

Carbon Credit Environmental Services has applied for an Intellectual Property Patent to assist business and corporations in assessing their GHG, CO2 emissions

Carbon Credit Environmental Services Creates New Certification for GHG,CO2 Emissions Reducing Global

Carbon Credit Environmental Services has applied for an Intellectual Property Patent to assist business and corporations in assessing their GHG, CO2 emissions

U.S. Central Federal Credit Union of Lenexa takes $760 million markdown

The subprime mortgage meltdown has seeped into yet another corner of the financial world.

S&P cuts Fremont General's long-term counterparty credit rating to 'CCC+'

Standard & Poor's (NYSE:MHP) Ratings Services Tuesday lowered its long-term counterparty credit rating on Fremont General (NYSE:FMT PR) (NYSE:FMT) Corp. to 'CCC+' from 'B-.'

NADAguides.com Launches RV Financing Center

NADAguides.com (http://www.NADAguides.com), a leading vehicle pricing and information website, today announced the launch of a full-service Recreation Vehicle Financing Center in the RV section

FirstClose(TM) Announces Polish & Slavic FCU as Newest Customer

FirstClose, a service of First Lenders Data, Inc. (FLDI), an Austin, Texas-based provider of bundled mortgage settlement services, announced today that it has added Polish and Slavic Federal Credit Union

Farmland more valuable than ever

As home prices continue to slide nationwide, the value of farmland is setting records.

SLM Credit Rating Cut by S&P, May Be Lowered More (Update2)

SLM Corp.'s credit rating was lowered two levels to BBB- from BBB+ by Standard & Poor's Ratings Services, and the student lender may be cut further.

Moody's eyes changes to rating system

Credit rating agency looks to market for input about potential changes.

UBS Analyst Hits Credit Cards

Fears of an impending U.S. consumer-led recession this year and rising unemployment sparked UBS analyst Eric Wasserstrom

Fidelity National Information Services Aligns with Digital Insight to Offer Online Bill Pay

Fidelity National Information Services, Inc. today announced a new strategic relationship with Digital Insight, a leading provider of online banking services

Esmark Incorporated Receives Underwritten Commitment for New $500 Million Revolving Credit Facility

Esmark Incorporated (the "Company") today announced that it has accepted a commitment for a fully underwritten $500 million

2 cents worth

Q: TV infomercials and radio ads are filled with debt forgiveness/consolidation strategies. Is there such a mechanism, program or law that addresses this or is it just a scam?

If Yahoo can’t do it . . .

Its retreat from the subscription music market begs the question: Can anyone make this business work?

American Pacific corporate credit rating raised to 'B+', outlook stable - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it has raised American Pacific Corp's (NASDAQ:APFC) ratings, including the corporate credit rating

W-H Energy Services to Present at Credit Suisse 2008 Energy Summit

W-H Energy Services, Inc. (NYSE: WHQ: 56.47, +0.11, +0.19%) announced today that Jeffrey L. Tepera, Vice President and COO of W-H Energy

Credit card rewards: Deal me in

I knew my rewards obsession had gotten out of hand when I froze at the checkout counter, trying to decide which credit card would maximize my freebies.

Small bump in credit score could mean a cheaper loan

When lenders issued mortgages to anyone who asked, borrowers could largely ignore their credit scores

Business People

Kinslow Keith & Todd Inc., has named Jess Armstrong as an interior designer.

Twin Disc board approves repurchase of shares

Twin Disc announced Friday that the board of directors authorized the repurchase of up to 500,000 additional shares

Knowing, maintaining credit score important in finance security

Understanding and monitoring a credit bureau score can pay dividends when looking for financial support in any endeavor

Oil States to Present at the Credit Suisse Conference

Oil States International, Inc. announced today that Cindy B. Taylor, Oil States' President and Chief Executive Officer, will present at the 2008 Credit Suisse Energy Summit

California Credit Union Launches Suite of Business Banking Services

After having offered low-cost financial products and services primarily to consumers for more than 75 years, California Credit Union

Prospect Medical 'B-' counterparty credit rating stays on negative watch - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said its 'B-' counterparty credit rating on Prospect Medical Holdings Inc (AMEX:PZZ) remains on negative watch

FPL Group to Present at the 2008 Credit Suisse Energy Summit

Paul Cutler, Treasurer of FPL Group, Inc. (NYSE:FPL), and Michael O'Sullivan, Senior Vice President - Development of FPL Energy, a subsidiary of FPL Group

FMC Technologies to Present at the Credit Suisse 2008 Energy Summit

FMC Technologies, Inc. (NYSE:FTI) announced today that John T. Gremp, Executive Vice President, will address attendees at the following event:

Velocita Wireless and Paynet Transactions to Provide Credit Card Authorization Services to Merchants

Velocita Wireless, a provider of custom wireless M2M data delivery solutions for businesses and government, that owns and operates the only nationwide

Bank of America Card Services Executive Struthers to Present at Credit Suisse Conference

Bank of America North America Card Services Executive Ric Struthers will participate in the Credit Suisse Financial Services Forum on Thursday, February 7

YourLoanServices.com Announces A New Credit Monitoring Service Free Of Charge

With credit problems increasing throughout the American population, the need for credit services rises each year considerably.

Pioneer to Acquire WEDGE Well Services, WEDGE Wireline, and WEDGE Fishing & Rental Services

Company schedules conference call for Monday, February 4, 2008 at 11:00 a.m. Eastern