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Debt Research News - December, 2007















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

Credit Research News - December, 2007



Gandy funeral: State owes her 'eternal debt,' says Winter

Friends and family said their final goodbye Friday to Evelyn Gandy.



E.M. Health tries to borrow away debt

E.M. Health Services, a home health care company founded by a high-ranking member of Your Black Muslim Bakery



Government Operated Like Corporations

Why is it that each election cycle we hear the challenge that governments must be run more like corporations?



Consolidated Communications Completes Acquisition of North Pittsburgh Systems, Inc.

Consolidated Communications Holdings, Inc. ("Consolidated") (Nasdaq: CNSL) announced today that it has completed the previously



Corporate Bond Yields Fall as Companies Refinance (Update2)

Borrowing costs for Citigroup Inc., AT&T Inc. and hundreds of U.S. investment-grade corporate bond issuers may fall next year as they refinance



The mortgage meltdown

As credit crisis grows, more homeowners seeking help to make payments



Hawaii's 'AA' rating bolstered by improved reserves, strong revenue trends - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said Hawaii's 'AA' rating is bolstered by its significantly improved financial performance and reserves, driven by very strong revenue trends.



New cars that are fully loaded — with debt

When Jennifer and Bobby Post traded in their 2001 Chevy Suburban last year for a shiny new Ford F-350 turbo diesel with an extended cab, it seemed like a great deal.



A mixed bag for Hoosiers

WASHINGTON College students, minimum-wage workers and ethanol producers were among the Hoosiers helped by Congress this year.



How Turmoil Melted a Money Fund

In a world of low yields, one-third of a percentage point could transform a $1 billion money-market fund into a $25 billion fund.



Resolve to lower debt

Now that the holiday season is ending, it's no surprise that Americans are carrying around extra debt.



Fitch Rates Fairbanks North Star Borough, Alaska's $11.1MM GOs 'A+'; Outlook Stable

Fitch assigns an 'A+' rating to the $11.1 million of Fairbanks North Star Borough, Alaska, (the borough) general obligation (GO) school bonds



Treasuries to Fall With Recession Risk, Survey Says (Update2)

The biggest decline in Treasury note yields since 2002 will be followed by an increase as the U.S. avoids falling into recession, economists and bond strategists say.



Finance Committee calls for 20 percent cuts across the board

With the Finance Committee calling for a 20 percent budget cut across the board for fiscal 2009, the Board of Selectmen met last night



Loan lets Anadarko pare debt from acquisitions

Anadarko Petroleum has obtained a $2.2 billion loan from investors to further reduce debt from its $21 billion acquisitions of two competitors in 2006



Dr. Sung Won Sohn Retires from Hanmi Financial Corp.; Mr. Chung Hoon Youk to Join Hanmi

Hanmi Financial Corporation (Nasdaq:HAFC), the holding company of Hanmi Bank, announced that Dr. Sung Won Sohn



Quintiles Gains Investments From Bain, 3i

In a recapitalization deal valued at more than $3 billion, private equity-backed health-care-services company Quintiles Transnational Corp.



Banning latex

School officials in Abington may soon issue a formal policy banning latex products. "Latex products have been kept out of our schools for a while," said Abington School Superintendent Peter Schafer.



Free Debt Consolidation Services – Definitely You Will Be Free

Thinking of getting a loan to get a brand new car? Think twice before you go for a loan, as the loan might end you in a financial complication.



Bond ratings remain stable thanks to steps

Jefferson County's bond ratings will remain stable because the county hired a private firm to audit the environmental services department



Personal bankruptcy filings soar

The number of southeast Michiganians declaring bankruptcy is skyrocketing.



How One Overdue Book Can Hurt a Credit Record

It may be wrong to return a library book late — or to never return it. But how severe should the punishment be?



A Way for Older Homeowners To Back Out of a Bind

Reverse mortgages used to be a way for homeowners to get extra cash during retirement.



Smart Move, Inc. Closes Private Placement of Debt Financing

Smart Move, Inc. (Amex: MVE), a Denver-based asset logistics manager providing a unique and increasingly popular alternative solution



Christian Debt Consolidation - Clear Debts The Christian Way

Getting loans for very urgent needs cannot be avoided, what can be avoided is the high interest payment and compounded interest on these loans.



Unpaid Credit Cards Haunting the American Debtor

American consumers are becoming consumed by their own credit card debt. More and more American credit card users are becoming delinquent and defaulting on their payments



Budget recap : Fayetteville finances will need to be re-evaluated next year

Fayetteville's city budget for 2008 is workable, but doesn't solve the city's longterm financial issues.



Billing Services Group's proposed revolver's 'B1' rating withdrawn - Moody's

Moody's Investors Service said it has withdrawn its 'B1' rating on Billing Services Group North America Inc's (BSG) proposed 15 mln usd



Transocean's 1.5 bln usd commercial paper program rated 'Prime-2' - Moody's

Moody's Investors Services has assigned Transocean Inc's (NYSE:RIG) 1.5 bln usd commercial paper program a 'Prime-2' short-term rating with a stable outlook.



Marsh & McLennan debt-to-capital, interest coverage ratios have improved - Fitch

Fitch Ratings said Marsh & McLennan (NYSE:MMC) Companies Inc's debt-to-capital and interest coverage ratios have migrated closer to historical levels



Moody's Again Lowers GMAC Debt Rating

Credit rating agency Moody's Investors Service downgraded GMAC LLC's senior unsecured debt rating further into junk on Friday



Harrah's Entertainment, Inc. and Harrah's Operating Company, Inc. Commence Tender Offers and Consent

Harrah's Entertainment, Inc., (NYSE: HET: 87.68, -0.32, -0.36%) ("Harrah's Entertainment"), announced today that Harrah's Operating Company, Inc.



Trinity Health Earns 'AA' Ratings Upgrade From Standard & Poor's

Trinity Health announced today that Standard & Poor's Ratings Services raised its credit rating on series bonds to 'AA' from 'AA-',



CWA Applauds Vermont Public Service Board for Rejecting Verizon-FairPoint Deal

The Communications Workers of America applauded today's decision by the Vermont Public Service Board to reject the proposed sale of Verizon Communications'



Global packaging could see more defaults in 2008 due to tight liquidity - S&P

Standard & Poor's Ratings Services said it expects tight liquidity and potential covenant violations to be the biggest stumbling blocks for global packaging



United Parcel Services' senior unsecured rating cut to 'Aa2' - Moody's

Moody's Investors Service said it has downgraded the long term ratings of United Parcel Service Inc's (UPS) senior unsecured debt to 'Aa2' from 'Aaa'



Nanticoke’s 2008 budget includes no new taxes

Council members increased the city’s earned income tax to 2 percent earlier this year.



DMB Financial Partners with Global Client Solutions to Deliver Superior Account Management Services

DMB Financial, LLC, one of the nation's largest and most trusted providers of debt settlement products and services, today announced that it has entered into an agreement with Global Client Solutions



Allco denies exposure to US debt markets

Financial services business Allco Finance Group Ltd is the latest local investment company to assure investors that it is financially stable.



Texada Software Inc. Announces Shares for Debt Transaction, $500,000 in Additional Financing

Texada Software Inc. ("Texada" or the "Company") (TSX VENTURE: TXS). Texada announced today that it will be seeking to settle aggregate indebtedness



Free Debt Consolidation Advice

Free debt consolidation advice can do a great deal in getting you out of serious trouble, caused by debt. It is not just fruitless advice to offer you solace.



County Board approves 2008 tax levy, budget

Beltrami County commissioners approved a 2008 property tax levy and county budget Tuesday night unchanged from that presented in August.



Clear Channel ratings on 6.332 bln usd unsecured debt cut to 'B-' - S&P

Standard & Poor's Rating Services said it lowered its issue-level ratings on Clear Channel Communication Inc's existing senior unsecured notes



Republic Services' senior unsecured debt rating raised to 'Baa1' - Moody's

Moody's Investors Service said it has upgraded Republic Services Inc's senior unsecured debt rating to 'Baa1' from 'Baa2' with a stable outlook



Debt collection agency fined for tactics

A debt collection company whose employees harassed and lied to consumers has agreed to pay $85,000 in penalties and change its ways



Where do all our taxes go?

It is the end of the year, and like about 35,000 other Dunn County property owners, I received my annual holiday season card from our local governments



Fire district headed for debt in 2008

The cash-strapped Grand Junction Rural Fire Protection District will go into debt and be unable to make full payments to the city for fire service in 2008



Centro NP issuer ratings cut to 'BB+' from 'BBB', still on negative watch - S&P

Standard & Poor's (NYSE:MHP) Ratings Services has lowered Centro NP LLC's issuer credit rating to 'BB+' from 'BBB' and said the ratings remain on creditwatch negative



Colombia's Chivor's ratings upgraded to 'BB' from 'BB-', outlook positive - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it has raised the ratings on AES Chivor & CIA SCA ESP (Chivor) to 'BB' from 'BB-' with a positive outlook



Before 'I do'

Couples say "we will" most often in December, so wedding therapists now have lots of work



Citigroup reveals US$49b sub-prime blow amid ratings downgrade

The world's biggest bank Citigroup is taking on board 49 billion dollars' (34 billion euros) worth of hugely devalued subprime loans to reassure markets



Moody's release on Crockett Cogeneration

Moody's Investors Service affirmed Crockett Cogeneration's (Crockett or Project) Baa3 senior secured rating and changed the rating's outlook to negative from stable



Citigroup Rescues SIVs With $58 Billion Debt Bailout

Citigroup Inc. will take over seven troubled investment funds and assume $58 billion of debt to avoid forced asset sales that would further erode confidence in capital markets.



S&P Changes NRUCFC Long-Term Debt Outlook to ‘Positive’

Standard & Poor’s Ratings Services (S&P) revised its outlook on National Rural Utilities Cooperative Finance Corporation’s



Analyst defends Shelby Eastern board

Educational Services Co. representative Timothy Armstrong Thursday defended the Shelby Eastern Schools Board of Trustees when he presented a financial health analysis



Debt Consolidation Agency – At Your Service

Debt consolidation agency, the name itself suggest about its features. You can take the help of these agencies and can make your life happier.



$7 Million County Budget On Review

With the county budget available for review until December 26, interested county residents have two weeks remaining to take a sneak peek at how their tax dollars



Citigroup commits support facility to Citi-advised SIVs

Citigroup Inc. late Thursday said it has committed to provide a support facility that will 'resolve uncertainties' regarding senior debt repayment



Concerns over consolidation of power

Reaction from local officials to a state commission's proposal to streamline government varied Tuesday.



Price of power: part II

While the pain of August's outrageously high electric bills is mostly gone, the memory of them is still in the back of the minds of most everyone in Baldwin City.



3 Big Banks See No Relief as Write-Offs Mount Up

The Bank of America Corporation, the Wachovia Corporation and PNC Financial Services Group said on Wednesday that losses tied to bad debt would be worse than expected



Integrated Electrical Services Reports Fiscal 2007 Fourth Quarter and Full Year Results

IES redeems term loan, issues $25 million senior subordinated notesBoard approves one million share repurchase program



BLOGGING LIVE FROM BAINBRIDGE CITY HALL: Signing off

Thank you for your comment. So no budget, no capital plan was passed tonight, even though council meeting sent 5 hours.



U.S. Army Re-Ups with Nortel Government Solutions for Application Services

Seeks Improved Leadership Information Sharing Under US$15 Million Task Order



Consumers trying to stay out of debt while doing their Christmas shopping

This year Americans are strategic about planning their holiday spending and taking real steps to prevent long-term debt.



New Free Debt Consultation Analysis Service Announcement by BadCreditLoanServices.com

In the middle of the financial crisis with sub-prime lending retreating from the market, the renowned financial site BadCreditLoanServices.com



Event Brief of Q3 2007 Moody's Corporation Earnings Conference Call - Final

Lisa Westlake, Moody's Corporation, VP of Investor Relations . Ray McDaniel, Moody's Corporation, CEO . Linda Huber, Moody's Corporation, CFO . Peter Appert, Goldman Sachs, Analyst . John Neff, Analyst . Karl Choir, Merrill Lynch, Analyst .



Cadle Co. to hire debt collectors for Mass. jobs

An Ohio debt collector accused of harassing Massachusetts residents agreed to cease all collection efforts in the state and instead hire licensed agents



Washington Mutual's long-term ratings downgraded, outlook stable - Moody's

Moody's Investors Service said it has downgraded the long-term ratings of Washington Mutual (NYSE:WM) Inc and its subsidiaries



U.S. Dry Cleaning Corporation Closes on Initial Convertible Debt Financing, Part of Its $20 Million

U.S. Dry Cleaning Corporation (OTCBB: UDRY) ("U.S. Dry Cleaning"), the first mover in consolidating the nation's dry cleaning industry



American Capital Commits $60 Million to US Express Leasing

American Capital Strategies Ltd. announced today that in the third quarter it committed $60 million in senior subordinated debt to US Express Leasing, Inc. (USXL),



Fitch Affirms South Tahoe Public Util Dist, California Sewer Rev COPs at 'AA'; Outlook Stable

Fitch Ratings, as part of its ongoing surveillance efforts, affirms its 'AA' rating on South Tahoe Public Utility District, California's (the district)



Hercules Technology Supplies $20 Million of Venture Debt to WildTangent

Hercules Technology Growth Capital, a specialty finance company providing venture debt and equity to venture capital and private equity backed technology



Reshaping the Debate on Raising Taxes

POWERFUL anti-tax rhetoric has made legislators at every level of government afraid to talk publicly about a need to raise taxes.



Grady's biggest operation: 'Bottom line' surgery

Even as the community rallies to save Grady Memorial Hospital, the 115-year-old Atlanta institution could run out of money by the end of the year.



Water deal delay costs Limestone $1,000 daily

The Limestone County Water and Sewer Authority is paying about $1,000 per day in interest while it waits for Decatur City Council



Where do your taxes go?

Carroll County’s budget for fiscal year 2008 is more than $328 million, with the majority of the revenue coming from residents.



Debt service keeping Northwood out of black

Northwood Golf Course has shown a net loss for the last four years. A projected loss of over $83,000 will make 2007 the fifth.



Wilson club struggles with debt; United Way may place club on one-year probation

The Wilson Boys & Girls Club is facing tough scrutiny from a high-profile funding source while it struggles to pay mounting debts and replace failing equipment.



City of Albert Lea likely to adopt levy increase Monday

Like many other area citizens, Albert Lea residents soon will see an increase in their property taxes.



Small Stocks Rise on Week;Smith & Wesson Falls 29%

Small stocks fell Friday, finishing an upbeat week on a flat note as a much-heralded jobs report proved anticlimactic.



Student-Loan Problems Add to Debt Worry

Consumers are having more trouble paying back student loans, adding to problems seen with home and car debt.



MCG Capital Invests in Avenue Broadband

MCG Capital Corporation today announced an investment in Avenue Broadband Communications, Inc., a cable services provider.



S&P Cuts 14 SIV Ratings Up to 10 Notches

Standard & Poor's Ratings Services on Friday said it had cut its ratings on debt of structured investment vehicles, some from investment grade to deepest junk



Providence Service Corporation Completes Acquisition of LogistiCare

The Providence Service Corporation (Nasdaq: PRSC) today announced that after early clearance from Hart-Scott Rodino review



Researcher Critiques Payday Lending Ban

A ban on payday loans may be leading to greater financial burdens for low-income residents of two Southern states



REA Finance B.V. - Annual Information Update

Annual Information Update for the period 4 December 2006 to 3 December 2007.



Henderson Global - Net Asset Value(s)

As at close of business on 6 December 2007, the unaudited net asset value per share calculated in accordance with the AIC formula



Star Gas Partners, L.P. Reports Seasonal Fourth Quarter Loss and Fiscal 2007 Results

Star Gas Partners, L.P. (the "Partnership" or "Star") (NYSE: SGU), a home energy distributor and services provider specializing in heating oil



Zurich Financial to continue handling subprime debt, CDOs with care

Zurich Financial Services Group reiterated it has handled investments in US subprime debt and CDOs with care and will continue to do so.



FTC Creates Hotline for Consumers Scammed By Debt Reduction Services

After charging four companies for scamming consumers with false promises of debt reduction, the Federal Trade Commission



Haven House offers property to pay tax debt

The Internal Revenue Service has agreed to waive most of the penalties it could assess the nonprofit Haven House Services



Route 19 News Briefs

Duquesne University honored 10 distinguished alumni recipients of its Mind, Heart and Spirit Awards with a reception and dinner on campus on Nov. 27.



Broadview Networks Holdings' ratings affirmed at 'B3'; stable outlook - Moody's

Moody's Investors Service has affirmed Broadview Networks Holdings Inc's corporate family rating at 'B3' with a stable outlook



MBIA Takes Another Hit

Moody's Investors Service estimates that monoline insurer MBIA (MBI - Cramer's Take - Stockpickr) may be at a greater risk of facing a capital shortfall



Consumers to pay off holiday debt quickly: poll

Three out of four American consumers plan to pay off their holiday shopping debt within three months, according to a survey released on Wednesday



Debt agency settles name disagreement

A Jacksonville debt collection agency being investigated by state attorneys has reached a separate settlement with an Arizona law firm over its use of the firm's name.



Fitch Rates Orange County Sanitation District (California) $300MM 2007B COPs 'AA'

Fitch Ratings assigns a rating of 'AA' to the Orange County Sanitation District, California's $300 million certificates of participation (COPs), series 2007B



National Investment Managers, Inc. Recapitalizes with $27 Million Debt Facilities

National Investment Managers (OTC BB: NIVM), the largest independent national retirement services company, providing retirement plan administration, investment consulting



AdCare Announces the Refinancing of a Nursing Home in Ohio

AdCare Health Systems, Inc. (Amex: ADK), an Ohio based long term care, home care and management company, today announced the refinancing of one of its nursing homes.



Debt Help Services - Manage Your Debt Professionally

Professional debt help services assist you to smartly manage your debt.



Christian Debt Consolidation Services - An Overview

Whenever we talk of Christian debt consolidation services, a question immediately comes to our minds whether this online Christian debt consolidation



Suitors offer proposals for Chevy Centre

Of the three preliminary proposals from companies wanting to run the city-owned Chevrolet Centre, only one provides details on the amount of money



Fitch Affirms St. Joseph's/Candler, Georgia Bonds at 'BBB+'

Fitch Ratings has affirmed the underlying 'BBB+' rating on the outstanding $154 million Hospital Authority of Savannah (GA)



Fitch Rates Metropolitan Transportation Auth, New York's $415MM Revs 'A'; Outlook Stable

Fitch Ratings assigns an 'A' rating to the Metropolitan Transportation Authority, NY's (MTA, or the authority) approximately $415 million transportation revenue bonds



New library brings fiscal tradeoffs

The gleaming new Central Library that opens in less than a week could become a celebrated Downtown landmark, but its budget will be a mess for years.



Norfolk schools go for green, but official says city can't afford debt

Rising energy bills are leading school officials from around the region to consider a state incentive to go greener.



Good Question: Some tips on preventing debt paralysis

I think I'm starting to have some debt problems. Due to cash ..... flow problems,



Social Security had writer dead

On June 20, 2006, I learned that the Social Security Administration declared me dead.



RMA/AFS Risk Analysis Service Metrics Continue to Show Further Deterioration in Middle Market Credit

The Risk Management Association (RMA), in alliance with Automated Financial Systems, Inc. (AFS), this week released its commercial credit risk benchmarking data updated


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