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Debt Research News - October, 2007















HOME :: RESEARCH :: DEBT :: NEWS :: ARCHIVE

Credit Research News - October, 2007



New buildings are taxing Moline’s budget

Debt from two new city buildings appears to be putting a strain on Moline's general fund, according to the city administrator.



Helix Reports Record Third Quarter Results

Helix Energy Solutions reported third quarter net income of $82.8 million, or $0.88 per diluted share.



PCMC Announces CEO Converts $1M Debt to Equity at $1.00 per Share

Public Company Management Corporation (OTCBB: PUBC) announced today that Stephen Brock, the Company's President, CEO, majority shareholder and a director



Cerberus ends bid for Affiliated Computer

Private equity firm Cerberus Capital Management has withdrawn its $6.1 billion takeover offer for Affiliated Computer Services



Cy-Fair ISD bond proposal is on Tuesday's ballot

Cy-Fair school district officials held an informational session this week to discuss the $807 million bond proposition that will be decided on Tuesday.



FTC sues LI pair in alleged debt-reduction scam

The Federal Trade Commission has sued a Miller Place couple and the debt-repair companies they control, alleging that the businesses took money from hundreds of customers



UnitedHealth boosts buyback program to 210M shares; may raise debt ratio

UnitedHealth Group (NYSE:UNH) said Wednesday that its board has increased its stock repurchase program to 210 million common shares



MCG Capital Corporation Reports Results for Third Quarter 2007

MCG Capital Corporation announced today its results for the quarter ended September 30, 2007. MCG will host an investment community conference call today at 10:00 a.m. ET.



Tensar's corporate credit rating affirmed at 'B' with stable outlook - S&P

Standard & Poor's Ratings Services said it has affirmed the corporate credit rating on Tensar Corp at 'B' with a stable outlook



Nalco Sales Grow 9 Percent in Quarter; Year-to-Date Adjusted EBITDA Up 9.5 Percent

Nalco Company (NYSE:NLC) announced today sales grew 9.0 percent nominally in the third quarter to $998.2 million, with organic sales up 5.5 percent.



Waste Services Announces Record Third Quarter Results

Record Revenue and Adjusted EBITDA.-- Record Adjusted EBITDA margins.-- Internal revenue growth from price and volume for the quarter of 4.4%.



BJ Services Reports Fourth Fiscal Quarter Earnings of $0.64 per Diluted Share

BJ Services Company today reported net income of $189.4 million for the fourth fiscal quarter ended September 30, 2007, or $0.64 per diluted share.



Read all about debt . . . but avoid Trudeau book

If you believe that the sun doesn’t cause skin cancer, but sunscreen does, Kevin Trudeau can help you get out of debt.



Universal Health Services, Inc. Reports 2007 Third Quarter Earnings

Universal Health Services, Inc. announced today that its reported net income was $28.9 million, or $.54 per diluted share, during the third quarter of 2007



DTS Financial Opens West Coast’s Largest Debt Relief Headquarters to Assist Millions of People

The debt experts at DTS Financial announced today the opening of the West Coast’s largest debt relief headquarters to meet the expected demand from the millions of people



Blumenthal after debt raters

Connecticut Attorney General Richard Blumenthal is investigating the commercial debt rating industry for possible violations of antitrust laws.



Watchful eyes needed on KC’s city-backed debt

As a new report clearly shows, Kansas City must be much more vigilant before issuing more city-backed debt for private development



New Jersey colleges sag under record levels of debt

New Jersey's public colleges and universities are saddled by record levels of debt, thanks to a borrowing spree that has gone virtually unchecked



Busy bill collectors deal with the blues

The cubicles are cramped and the workers focused with solemn intensity.



Blumenthal Subpoenas Debt Raters In Antitrust Probe

In the latest example of state probes into the operations of financial services firms, Attorney General Richard Blumenthal is investigating allegations that the three major Wall Street debt rating agencies



Fitch Rates Brooks Health System (Florida) 2007 Bonds 'A'; Outlook Stable

Fitch has assigned an 'A' rating to the approximately $92 million Jacksonville Health Facilities Authority Health Care Facilities Revenue Bonds (Brooks Health System),



Fitch Upgrades CentraCare Health System (Minnesota) Outstanding Debt; Assigns 'A' to 2007 Bonds

Fitch Ratings assigns an 'A' rating on approximately $200 million of series 2007 bonds and upgrades its rating on approximately $233 million of outstanding debt to 'A' from 'A-



FIS Plans Spin-Off Of Lender Processing Services Division

The board of directors at Jacksonville, Fla.-based Fidelity National Information Services (FIS), a provider of technology services to financial institutions, has approved pursuing a plan to spin off the firm’s lender processing services



Marlin Leasing Completes $440 Million Term Debt Securitization

Marlin Leasing Corporation, a wholly owned subsidiary of Marlin Business Services Corp. (Nasdaq:MRLN), announced today the completion of a $440 million



Fitch Rates Lodi, California's $31.5M Wastewater Revenue COPs 'A-'; Outlook to Stable

Fitch Ratings assigns an 'A-' rating to approximately $31.5 million City of Lodi, California wastewater system (the system) revenue certificates of participation (COPs or certificates), 2007 series A.



Fitch Rates Tallahassee, Florida's $154.1MM Utility Revs 'AA'; Lowers Outstanding Revs to 'AA'

Fitch Ratings has assigned an underlying 'AA' rating to Tallahassee, FL's (the city) $154.1 million consolidated utility systems refunding revenue bonds, series 2007.



FIS to spin off division

Fidelity National Information Services Inc. plans to spin off its lender processing services division into a separate, publicly traded company.



UPDATE 3-Fidelity National to spin off mortgage services

Fidelity National Information Services Inc (FIS.N: Quote, Profile, Research), a top vendor of data processing services for banks and home lenders



Cash Technologies Subsidiary Signs Services and Licensing Agreement With TriCap Health Group

Cash Technologies, Inc. announced that its wholly owned subsidiary, Claim-Remedi Services, Inc. has entered into a Services Agreement (the "Agreement") with TriCap Health Group, LLC



Five vie for 2 Dover at-large council seats

Increasing taxes, debt and city growth are the major issues for the five candidates running for the two open at-large City Council seats.



Higher tuitions contribute to higher profits for ITT Education Services

ITT Education Services Inc., a Carmel, Ind.-based provider of technology-oriented postsecondary degree programs, reported strong third-quarter profit growth with the help of more incoming students



Quantum Corporation's Fiscal Second Quarter Results Show Continued Progress in Executing on Key Goal

Quantum Corp. , the leading global specialist in backup, recovery and archive, today announced that revenue for its fiscal second quarter



Merrill shares hit 2-year low on heavy volume; debt downgraded by S&P, Fitch

Shares of Merrill Lynch extended declines to a 2-year low on heavy volume in midday trading Wednesday, after credit rating agencies followed the broker's third-quarter report



Council committee endorses new debt policy

Kansas City has doubled its debt obligation in the past four years, as the city went on an economic development spending spree led by former Mayor Kay Barnes



ChoicePoint(R) Reports Third Quarter 2007 Results

Service revenue from continuing operations grew 3.4 percent from the third quarter of 2006, led by Insurance Services segment growth of 11.3 percent.



Shenandoah Telecommunications Company Declares Dividend and Reports Third Quarter 2007 Results

The Board of Directors of Shenandoah Telecommunications Company (Shentel) declared a cash dividend of $0.27 per share.



Fitch Rates Austin, Texas $50MM Electric Utility Sys Rev Rfdg 2007 Taxable Bonds 'AA-'

Fitch assigns an 'AA-' rating to The City of Austin, Texas's $50 million of electric utility system (Austin Energy) revenue refunding bonds, taxable series 2007 'AA-'.



Fitch Rates $30MM Ohio Parks & Recreation Capital Facilities Bonds 'AA'

Fitch Ratings assigns an 'AA' rating to $30 million State of Ohio parks and recreation capital facilities bonds, series II-2007A.



Radiation Therapy Services placed on negative watch after Vestar deal - S&P

Standard & Poor's Ratings Services said it placed its ratings, including the 'BB-' corporate credit rating, on Radiation Therapy Services Inc on negative watch



Fitch Rates Worcester, Massachusetts' $39MM GOs 'A'; Outlook Stable

Fitch Ratings assigns an 'A' rating to the City of Worcester, Massachusetts' approximately $39.1 million general obligation (GO) municipal purpose loan of 2007 bonds.



Free Debt Consolidation Quote - How To Find A Good Debt Consolidator Online

If you need to bundle your bills and creditors into one monthly payment, you may need a debt consolidation company.



Radiation Therapy Services' ratings affirmed - Moody's

Moody's Investors Service affirmed the ratings of Radiation Therapy Services Inc (NASDAQ:RTSX) , after its announcement that it has entered into a definitive agreement



The Mortgage Calculators

To buy or purchase a home remains a tough and important decision in our life.



How Does Credit Card Debt Consolidation Counseling Help

The credit card debt consolidation counseling services are excellent debt reduction tools.



'Paltry' is a Laughable Distinction

The news in the housing market is bad and getting worse. For example, JMR Steve in La Paz sends a link to a National Public Radio broadcast,



Deion Sanders touts retailer eLayaway.com

Online retailer eLayaway.com has named sports superstar Deion Sanders as Ambassador, a role that will allow him to help people avoid the pitfalls of credit card debt



Proposed city budget calls for minimal tax increase

City Manager Tom Herre is proposing a 2008 City of Fond du Lac budget that would have a minimal tax impact on local property owners.



Vestar Capital Partners to Acquire Radiation Therapy Services, Inc. in $1.1 Billion Deal

Radiation Therapy Services, Inc. [Nasdaq: RTSX] and Vestar Capital Partners today announced that the Company has entered into an agreement to be purchased by Vestar Capital



Vestar Capital to Buy Radiation Therapy

Fla.-Based Radiation Therapy Services to Be Sold for $763.8M



S&P Takes Boston Scientific Off Watch

Standard & Poor's Ratings Services Friday removed Boston Scientific Corp. from its CreditWatch status but issued a negative outlook



Gackle agenda: Taxes, riverfront, Life Fitness Center

Greg Gackle is running for mayor in Bettendorf against incumbent Mike Freemire. Mr. Gackle, president of GAH, Inc.,



Avoid debt paralysis

Many Americans are drowning in debt, which can be attributed to various factors including the overuse of credit, unexpected expenses



Fire district vote set Dec. 11

Township voters are being asked to decide a $3.5 million bond referendum for the replacement of fire trucks and repairs and improvements to three stations.



Coalition pushes for increase in gas tax

A gas tax is a job creator, while the service tax is a job killer.



Bush Backs Debt Relief for Liberia

President Bush told Liberian President Ellen Johnson Sirleaf on Thursday that the United States was committed to helping relieve debt and fight malaria



Rules of Rental Building Buying Game Have Changed

For at least the past six years, investors including wealthy individuals, institutional and foreign investors, real estate investment funds



Fitch Rates Cullman Regional Medical Center (Alabama) $50MM Healthcare Revs 'BBB-'; Stable Outlook

Fitch Ratings assigns a 'BBB-' rating to the $50 million The Medical Clinic Board of the City of Cullman - Cullman Medical Park South



NovaStar Financial, Inc. Agrees to Sell Mortgage Servicing Rights in a Move to Reduce Debt

NovaStar Financial, Inc. , a residential mortgage portfolio manager, today announced it has entered into a definitive agreement to sell all of its mortgage servicing rights



Movie Gallery files for Chapter 11

Video-rental chain Movie Gallery Inc. filed for bankruptcy Tuesday, succumbing to a mountain of debt incurred when it bought rival Hollywood Entertainment for $1 billion in 2005.



Fitch Rates Midvale City, Utah's, $6.8MM Wtr & Swr Revs 'A'; Outlook Stable

Fitch Ratings assigns an 'A' rating to $6,765,000 Midvale City (Salt Lake County, Utah) water and sewer revenue bonds, series 2007B.



Cash Tender Offers and Related Consent Solicitation Commenced for Alliance Data Debt Securities

Aladdin Merger Sub, Inc. (the "Offeror") announced today that it has commenced a cash tender offer (the "Tender Offer") in respect of the 6.00% Senior Notes, Series A, due May 16, 2009



Questions raised over no-bid contract request

A debt collection agency accused of harassing customers and once mishandling sensitive state records has hit a roadblock in its latest effort to land state business.



S&P Lowers Ratings for Central Garden

S&P Cuts Ratings for Central Garden & Pet Co. Based on Weak Operating Results



HealthSouth Receives Federal Tax Recovery

HealthSouth Corporation announced today that is has received a $440 million tax recovery from the Internal Revenue Service ("IRS")



Go Beyond Bankruptcy Law To Screen Debt Counselors

The new federal bankruptcy law helps take some -- but not all -- of the guesswork out of choosing a debt counseling service



Another path to public service

TUFTS UNIVERSITY plans to give some of its students an important financial break.



Monument district asks to double its debt ceiling

A small northern El Paso County special district with $47 million in debt wants voter permission to nearly double that amount.



Get Debt-free With Debt Consolidation

Within this short guide you’ll find the most important online financial options available for you.



Funding solutions will require a long-term approach

Someday, or at least we can hope, Wisconsin will have a budget.



Maine public advocate urges price cut on Verizon sale

Maine's consumer advocate wants to restructure the proposed sales agreement between two telephone giants to reduce the cost by $600 million



Debt relief goes from bad to worse thanks to fraud

Joseph Elzinga thought he was doing the right thing.



Fitch Assigns 'B' Rating to IMPSA's Proposed US$250MM Notes

Fitch Ratings has assigned a 'B' rating to Industrias Metalurgicas Pescarmona S.A.I.C. Y F (IMPSA) proposed US$250 million amortizing notes due in 2014.



Moody's cuts Lennar's rating to junk status

Moody's Investor Services has dropped Lennar Corp.'s debt ratings to junk status, saying it expects bleak industry conditions to continue until at least 2009.



Moody's Cuts Avon Ratings Outlook

Moody's Investors Services on Friday affirmed the investment-grade credit ratings of Avon Products Inc., a direct seller of beauty products



Big banks, in the midst of debt troubles, also face competition for depositers

Amid all the noise about mortgages in the U.S. going sour and the difficulties banks are having unloading corporate debt



Home builders' debt given junk ratings

Moody's Investor Services has dropped the debt rating of three top home builders to junk status, saying it expects bleak industry conditions to continue until at least 2009



Fire Department fees proposed in Lisbon

A three-page news release issued by Town Chairman Michael Reed has sparked a debate over the size of the town's $7.1 million debt and whether town residents should have to pay a fee



Tackling the Tough Projects

Interfaith Housing Development Corporation of Chicago (IHDCC) is building three affordable housing projects in three different neighborhoods



ConocoPhillips raised to 'A' on reduced debt - S&P

Standard & Poor's (NYSE:MHP) Rating Services said it has raised its ratings on ConocoPhillips (NYSE:COP) , including the corporate credit rating to 'A' from 'A-'



U.S. debt collectors seek cellphone, e-mail access

The debt collection industry urged the U.S. government on Wednesday to lift a decades old ban against using e-mail accounts



Fitch Affirms Elkhart Gen'l Hospital (Indiana) Bonds at 'A+'; Outlook to Stable

Fitch Ratings has affirmed the 'A+' rating on the approximately $97 million of Elkhart General Hospital's (EGH) outstanding series 1998 and series 2003 bonds



Gladstone's Portfolio Lost 1.3 Percent

Gladstone Capital Corp.'s $350 million investment portfolio lost about 1.3 percent of its value during the turmoil in the debt market this summer



Michigan business briefs

The Wayne County Airport Authority received positive ratings from credit rating agencies on Monday.



The Bank of New York Mellon Expands Corporate Trust Office in Chicago

The Bank of New York Mellon, the global leader in asset management and securities servicing, will add 50 new employees



How Long Will County Be 'Bonded' To Debt?

The debt service that Suffolk County must pay is becoming a contentious issue for some county officials. Since taxes are used to pay off the debt, an increase in the debt could subsequently lead to higher taxes.



Debt Consolidation Services Can Save you From Bankruptcy

If you are having multiple debts and thinking of filing your bankruptcy, as you can see no other way out from the vicious circle of debts



Fitch Rates Cass Medical Center $50MM Revs 'BBB-'; Outlook Stable

Fitch Rates Cass Medical Center (Missouri) $50MM Revs 'BBB-'; Outlook StableNEW YORKNY-FITCH-RATINGS/CASS



Text of County Executive McReynolds' budget address to the Racine County Board

I stand before you to present my fifth annual budget for Racine County



Ratings Agencies Downgrade TXU

Credit ratings agencies Moody's Investors Service and Standard & Poor's Ratings Services on Tuesday downgraded ratings for TXU Corp.,



Deep in debt, homeless shelter faces IRS seizure

In 2002, the then-director of the Human Outreach Agency, the county's only homeless shelter for men



Scana's outlook cut to negative on weak financial profile - S&P

Standard & Poor's Ratings Services said it has revised its outlook on Scana Corp to negative from stable, citing the company's weak financial profile.



Debt management ensures a brighter future, say Gregory Pennington

With today's inflated property prices, many people are waiting until later in life to buy property, then taking out longer-term mortgages



S&P: Washington Mutual Outlook Stable

Standard & Poor's Ratings Services is no longer considering boosting Washington Mutual Inc.'s debt rating



Providence Service Unit Acquires Company

Providence Service Corp., which manages social service programs, said Monday its subsidiary, Children's Behavioral Health Inc.,



MTA Says it Needs More Money for Congestion Pricing

The deal that produced the 17-member Congestion Mitigation Commission mandated the MTA to "submit comments on the Mayor's [congestion pricing] plan"



USA - Kaulkin Ginsberg: 2007 M&A Activity in the Debt Collection Industry Remains Robust

Merger and acquisition activity in the debt collection/accounts receivable management (ARM) industry maintained a fast pace through the third quarter of 2007.



Hospitals prosper from an aging population

The graying of the Seacoast has been a boon for Portsmouth Regional Hospital and Exeter Hospital, which ranked second



News Corp upgraded to 'BBB+' on hopes of continued good earnings momentum - S&P

Standard & Poor's Ratings Services said it has raised News Corp's corporate credit rating to 'BBB+' from 'BBB'



Mosaic upped to 'Ba1' on better cash flow, reduced debt - Moody's

Moody's Investors Services said it has upgraded the Mosaic Co (NYSE:MOS) corporate family rating to 'Ba1' from 'Ba3'



Credit Looks Better On Paper

While U.S. stock trading was flat on Thursday as Wall Street awaited the September jobs report, some good news came from the Federal Reserve



Dataside Secures $24.5 Million Debt Financing from an Affiliate of Fortress Investment Group LLC

Dataside, a leading provider of customized data center infrastructure space and managed network services announced it has secured $24.5 Million



Rating Agencies Are Under Fire, But Little Consensus On Solution

There's nothing like the threat of government regulation to send industries down the path to self-enlightenment.



Islip budget proposes boost in services, steady taxes

Islip Supervisor Phil Nolan wants to do more with less in his proposed $125.9-million budget for 2008.



How to Repay Family Debt

To make a long story short, I borrowed $30,000 from my mom. I signed a legal agreement to pay the money back to her.



Program Could Allow Low Interest Rates For Nonprofits

Mayor John Street yesterday introduced a new pool loan program to allow nonprofits here, particularly small to medium ones



Straight talk from state treasurer on California's budget dilemma

California's deep-seated fiscal troubles are by now well known to almost everybody who follows public affairs:



Viacom Announces $750 Million Debt Offering

Viacom Inc. today announced that it has agreed to sell $500 million in aggregate principal amount of 6.125% senior notes due 2017 at a price equal to 99.286%



G-A fire, rescue millage is lowered

Property owners in Glen Arbor Township will pay a lower millage levy for fire and rescue services on their Dec. 1 tax bills.



American Airlines parent to prepay aircraft debt

AMR Corp. plans to repay $545 million in aircraft debt in the fourth quarter, the parent of American Airlines Inc. said Monday



Lockyer: Immediate action needed on state’s debt

California should begin immediate reforms to control its growing debt problem that could develop into a $14.6 billion gap between revenue and spending



Fitch Rates Monongalia Health System's (West Virginia) 2007 Bonds 'BBB+'; Affs Outstanding

Fitch Ratings has assigned a 'BBB+' underlying rating on Monongalia Health System's (Morgantown, WV) anticipated $49.4 million series



UPS Agreement With Teamsters Allows Pension Shift

United Parcel Service Inc.'s five-year tentative contract agreement with the Teamsters will allow it to pay $6.1 billion



Too Much Debt vs Cash On Hand?

A new report from California's top investment officer suggests there's going to be a lot more state government debt



Enterprise unveil debt service

Enterprise Debt Solutions has been officially launched to the Group’s Partners.



Strike out P1.3 B illegitimate debt off 2008 budget

In a historic move, legislators from both the administration and opposition crossed party lines today just to listen and accommodate


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