Credit Research News - February, 2007

Greif, Inc. Reports First Quarter 2007 Results

Greif, Inc. , a global leader in industrial packaging with blending, filling and packaging services; a focused and integrated containerboard and corrugated packaging business; and timber operations, today announced results for its first fiscal quarter, which ended on Jan. 31, 2007.

Fitch Rates Vermont's $15MM GOs 'AA+'; Affirms Outstanding Debt; Outlook Stable

Fitch Ratings assigns an 'AA+' rating to the state of Vermont's $15 million general obligation (GO) bonds, consisting of: --$10 million 2007 Series B (Vermont Citizen Bonds) --$5 million 2007 Series C (Vermont Citizen Environmental Bonds)

Waste Services Reports Fourth Quarter Results

Waste Services, Inc. (Nasdaq: WSII) today reported financial results for the three months ended December 31, 2006.

City considering policy on debt write-off

It's about four years late, but Columbus' city government finally is getting around to establishing a write-off policy to remove from its books the revenue it will never collect.

The Bank of New York Ranked Top Overall Global Trustee for 2006

The Bank of New York, a global leader in securities servicing, was the number one overall global trustee for 2006, according to year-end data compiled across all debt segments by the industry's leading information providers.

Debt Resolve, Inc. Appoints New Director

Michael G. Carey, of The Carey Group, LLC, to join the Debt Resolve Board of Directors

US CREDIT-Temple-Inland debt may have room to rally

Temple-Inland Inc.'s (TIN.N: Quote, Profile, Research) spreads tightened on Tuesday after the company announced plans to separate into three stand-alone companies ...

Fitch Affirms Kern River Funding Corp Ratings; Outlook Stable

Fitch has affirmed the Issuer Default Rating (IDR) and Senior Unsecured Debt ratings for Kern River Funding Corp. (KRFC) at 'A-'. The Rating Outlook is Stable. KRGT has two debt issuances outstanding: $699 million of 4.893% amortizing senior notes due April 2018, and $387 million of 6.676% amortizing senior notes due June 2016.

Career center endorses proposed $3 million budget

Clarion County Career Center officials have endorsed a proposed $3 million budget for the 2007-08 year.

AES Achieves All-time Low Default Rate

Default prevention efforts prove successful for students

Crowell & Moring lifts nine for distressed debt

Crowell & Moring has recruited a team of nine lawyers from law rival firm Buchanan Ingersoll & Rooney to strengthen its financial services and distressed debt practices.

US Class War - Slavery through Consumption & Debt to Serve the Elite / Politics /Analysis & Strategy

The motto of the United States of Consumption is “In More We Trust.” The contribution of American culture to humanity is consumption obsession.

Superior Energy Services, Inc. Posts Record Fourth Quarter 2006 Results

Superior Energy Services, Inc. today announced record net income of $62.2 million and diluted earnings per share of $0.76, on revenues of $319.1 million, as compared to net income of $16.2 million...

The Brock Group Completes XServ Acquisition -Creating Top Multi-Craft Specialty Services Provider

-The Brock Group (“Brock”) announced the closing of its acquisition of XServ, Inc. (“XServ”), a leading provider of industrial scaffolding and insulation services.

Debt traps?

On a daily basis, Mike Cherry, president and chief executive officer of Consumer Credit Counseling Services in Joplin, sees the impact debt has on people.

Some payday lenders change rules to help clients pay off debt

A group that represents about half of payday-lender stores in the United States now will require its members to give customers more time to repay their loans without additional fees or penalties.

Why West Virginia’s public services lag

In many public surveys, West Virginia competes for last place with Louisiana and Mississippi.

Politicians and bankers gang up in tragic world of deadly debt traps

Sky-high interest rates on credit cards can make a mountain of debt seem insurmountable. Eventually for some, it is.

Study: N.H. residents have more credit cards, debt, better credit

A study by credit reporting agency Experian finds New Hampshire residents have more debt and charge cards than people in other states, but also are better at managing their credit.

LITTLE HOOVER COMMISSION EXAMINES CALIFORNIA HEALTH COVERAGE PROPOSALS

Costs, price controls, high deductibles, public program reforms discussed

Cities lament property tax relief plan

Florida cities and counties that have grown the fastest would be hit the hardest under a plan by Republican leaders in the Florida House to rewrite property tax laws, according to documents released Friday.

Tuckerton kills plan to share services

A proposal to explore sharing services, such as merging police forces and court systems, with Little Egg Harbor has reached an apparent dead end.

UM athletics pays off debt early

Careful spending and tight budgets helped the University of Montana's athletic department pay off its more than $1 million deficit two years earlier than expected.

Overlake church, in financial squeeze, to trim number of Sunday services

Leaders at Redmond's Overlake Christian Church are consolidating some services while trying to attract new members....

Documents Show MLGW Aware of Edmund Ford's Debt

A councilman under indictment on public corruption charges avoided having his utility services disconnected despite owing more than $16,000 to the city's main utility, according to documents subpoenaed by prosecutors.

S&P lowers Lamar Outlook

Poor's Ratings Services on Friday cut its rating outlook on Lamar Advertising Co. down a notch to stable from positive after the billboard advertiser announced a plan to issue a special dividend and stock buyback program.

Formidable hurdles anticipated before hospital is constructed

A study session is set for Tuesday to discuss among other issues, a $7 million financing package for the construction of a medical facility that the former City of Nogales administration promised to Carondelet Holy Cross Hospital representatives.

County budget calls for tax rate hike

The proposed budget for Muscatine County’s fiscal year 2007-08 calls for the total tax levy rate to increase by 37 cents.

$13 million bond debt OK’d for buildings

The dilapidated High Point social services building is closer to being replaced.

Transit worker accused of using city-funded account to pay off debt

A transit worker from Staten Island is accused of tapping into a Medicaid account reserved for the poor and disabled for $38,000 to pay his debts.

Quanta Services Reports Fourth Quarter and Annual Results

Achieved Record Fourth Quarter and Annual Revenues

Taxes, fees to increase along with public services

The city of Bartlett fiscal year's 2008-2011 budget projection was presented to the Board of Mayor and Aldermen and other city officials Feb. 13 at a workshop session that took place before the public meeting.

Online Resources Refinances Acquisition Debt

Online Resources Corp. (Nasdaq: ORCC), a leading provider of Web-based financial services, today announced it has refinanced the $85 million senior secured debt incurred to finance its July 2006 acquisition of Princeton eCom, and established a new $15 million revolving line of credit, which the Company did not borrow under at closing.

Debt to America's troops isn't being paid

The Bush administration is failing to give many of the 50,000 soldiers hurt in combat, injured in accidents or ill from service in Iraq and Afghanistan the care they need and deserve.

College Station trustees vote for bond election

College Station school trustees Tuesday unanimously voted to call a May 12 bond election that will ask voters to approve $67.42 million to build two new elementary schools, renovate high school athletic facilities and make other repairs.

Gottschalks Signs New Multi-Year Agreement With HSBC Retail Services

Gottschalks Inc. today announced that it has signed a new multi-year agreement with HSBC - North America's retail services business for the operation of the Company's proprietary credit card business.

Debt Consolidation Company - Select With Caution

Services of an efficient debt consolidation company are a boon for those who are neck deep in debt and face problems.....

Floyd Memorial's bad debt rising

In the wake of an accounting firm’s analysis, Floyd Memorial Hospital and Health Services lowered its expected 2006 bill collections by $11.5 million, prompting a four-phase plan to improve finances, the chairman of the Board of Trustees said.

Visiphor Completes 2004 Debt Settlement

Visiphor Corporation announces today it has issued 120,662 Units at $0.40 per Unit to settle $48,264.77 of debt.

Converge Gets $40 Million From GE Energy Financial Services

Five subdivisions between Omaha and Elkhorn are the forgotten places pulled into the two cities' annexation fight.

How Americans really feel about credit card debt

An awful lot of Americans feel lousy about the way they're handling credit card debt, say the results of a Bankrate commissioned survey.

ACS Named Top Training and Development Provider by HRO Today

Affiliated Computer Services, Inc. , a premier provider of business process outsourcing and information technology solutions, announced today that it has been named, for the second year in a row, to HRO Today magazine's "Baker's Dozen" list of top providers of training and development services...

Tasty dividends

In 1971, my folks gave us 10 shares of AT&T for an anniversary gift.

Children’s Friend keeps great tradition

The quality of life in any community, to a large extent, depends on a spirit of compassion and willingness to help.

Grubbs can't lose deadbeat tag

The Brooksville company says it is not a former firm that went bankrupt in 2003. A co-owner says, "We pay our bills."

Time to Change America by Challenging Economic Fundamentals

Though headlines are dominated by the war in Iraq, everyone realizes there is something wrong with the US economy. But few have focused on the connection between the two.

That state debt? It's your debt... and your grandchildren's

In the real world -- the world of average working families -- if you go deeply into debt, you either enroll in a debt management plan or risk losing your home or car. Not so in the world of state government.

The Decline of Public Higher Education

Over the last quarter century, Americans got used to the idea of their children going on to colleges and universities.

Chamber announces leadership class of 2007

Every year since 1990, between eight and a dozen Porterville residents immerse themselves in the ins and outs of local, county and state government in a program known as Leadership Porterville.

Sally Beauty Holdings, Inc. Acquires Salon Services

Sally Beauty Holdings, Inc. (NYSE:SBH) (the “Company”) announced today that it has completed the acquisition of the stock of Chapelton 21 Limited, a private company incorporated in Scotland, conducting its business through direct and indirect subsidiaries including Salon Services (Hair and Beauty Supplies) Ltd. (“Salon Services”).

Cutting debt, improving services

Council member says she can provide the independent leadership the city needs.

American Education Services Announces the Winners of The $20,000 Lighten Your Loan Sweepstakes(SM)

American Education Services (AES) has announced the four winners of The $20,000 Lighten Your Loan Sweepstakes(SM).

Marlin Business Services Corp. Reports Fourth Quarter and Year End 2006 Earnings

Marlin Business Services Corp. (Nasdaq: MRLN - News) today reported net income of $3.9 million for the fourth quarter ended December 31, 2006, compared with net income of $4.4 million for the same period in 2005.

Allied Waste Reports Fourth Quarter and Full Year 2006 Results

Allied Waste Industries, Inc. (NYSE: AW - News), a leading waste services company, today reported financial results for the fourth quarter and full-year ended December 31, 2006. Allied Waste highlighted the following information from its reported quarterly financial results:

Debt Consolidation Services: Providing Quality Services

For people in debt, the best place to get some expert advice from is a credit counseling company.

We are entitling ourselves to debt

PRESIDENT Bush offered a $2.9 trillion budget for next year that defies common sense.

COMSYS IT Partners, Inc. Reports Fourth Quarter and Full Year Results

COMSYS IT Partners, Inc. (NASDAQ:CITP), a leading provider of information technology staffing and consulting services, today announced results for its fourth quarter and year ended December 31, 2006.

Equifax to Buy Talx for $1.2 Billion to Add Services

Equifax Inc., a provider of consumer-credit information, agreed to buy Talx Corp. for about $1.2 billion in cash and stock to expand in the payroll-services market. Equifax shares rose to a record.

Credit card use, debt rising

In 1949 Frank McNamara was dining out with friends at Major’s Cabin Grill. When he went to pay the bill, he realized he had forgotten his wallet.

Ladenburg Thalmann Enters into Exchange Agreement to Retire Remaining Debt

Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) announced today that it has entered into a Debt Exchange Agreement with New Valley LLC, the holder of outstanding promissory notes due March 31, 2007 in the principal amount of $5,000,000.

Love & finances: 'Til debt do you part?

They say your love won't pay the rent. They're right.

DebtHelp Solution Engine Offers Personalized Answers to Debt Problems

DebtHelp, Inc, a leading credit and debt information company that specializes in connecting consumers with debt solution providers, announced the launch of the DebtHelp Solution Finder as part of its services at www.DebtHelp.com.

Rice Announces Huge Debt Relief for Liberia

Cites "time of optimism" after 14 years of civil war in African nation

Integrated Electrical Services Reports Fiscal 2007 First Quarter Results

Integrated Electrical Services, Inc. (Nasdaq: IESC - News) today announced results for its fiscal first quarter of 2007 ended December 31, 2006.

Bowers: Loudoun's Quality Of Life Second To None

The following is the prepared text of County Administrator Kirby M. Bowers' FY 2008 budget presentation.

ALL BUSINESS: Costly Risks of Cheap Debt

Before investors cheer how much special dividends or stock buybacks may boost their wealth, they should also consider how it may cost them in the long run.

CareOne Offers Solution to Debt-Tarnished Golden Years

Struggling with credit-card debt is no way to spend the retirement years, but an increasing number of seniors are doing just that. Living on fixed incomes and stretching their budgets, American seniors have joined a younger generation that's grown attached to a formula for financial ruin.

Fitch Rates Windstream's Proposed $500MM Senior Unsec Notes 'BB+'

Fitch Ratings has assigned a 'BB+' rating to Windstream Corporation's (Windstream) proposed offering of $500 million of senior unsecured notes due 2019.

Half of youngsters have been in debt by the age of 17

More than half of schoolchildren have been in debt by the time they reach 17, an education charity warned today.

Liberia: Private Sector Forum Sells Out As Sirleaf Arrives in Washington Seeking Debt Relief

Liberian President Ellen Johnson Sirleaf is making a return visit to Washington this week with an urgent agenda.

Fitch Rates Prospect Energy Corporation Announces Repayment of Investment in Cypress

Prospect Energy Corporation (NASDAQ: PSEC) ("Prospect") announced today that it expects repayment of, and a gain on, Prospect's $4.3 million debt investment in Cypress Consulting Services, Inc. ("Cypress"), a seismic surveying company based in Houston, Texas.

How dangerous is the national debt?

Plus: How much did that marketing stunt that sparked a bomb scare cost?

Despite bankruptcy, Osos hires lawyer to fight fines

Already in bankruptcy with tens of millions of dollars in debt, the Los Osos Community Services District has hired yet another attorney, this time for a battle in which it has no direct stake —

A&M gives its wish list to state

Texas A&M University lobbyists say securing more than $20 million to hire about 100 new faculty members will be the top funding priority as lawmakers continue reviewing the school's budget this week.

Loans 101: Avoid the debt trap

The web-site www.Investorwords.com defines a loan as follows: An arrangement in which a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the money, usually along with interest, at some point(s) in the future.

Credit Counseling Industry to Convene Panel to Address Problems with the Uniform Debt Management Ser

The American Association of Debt Management Organizations (AADMO) will convene a panel of the credit counseling industry to address problems with the Uniform Debt Management Services Act ("Uniform Act"). The panel will meet on February 19, 2007 in Austin, Texas.

Settling an unforgivable debt

The state has agreed to pay $12.5 million to women who claimed they were sexually abused and mistreated as girls at the Chalkville juvenile facility.

Firm gets new financing

Rancho Cordova-based Superior Vision Services Inc. announced $54.2 million in new capital and debt financing Friday to help it capture a larger share of the nation's vision care industry.

A.M. Best Affirms Ratings of Nationwide Financial Services, Inc. and Its Life/Health Subsidiaries

A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of the life/health subsidiaries of Nationwide Financial Services, Inc. (NFS) (NYSE: NFS).

S&P Cuts Lear Rating Over Buyout Deal

Standard & Poor's Ratings Services said Friday it lowered its corporate credit rating on Lear Corp. further in junk territory, to "B" from "B+"

Superior Vision Services, Inc. Completes $54.25 Million Recapitalization With ABS Capital Partners

New Investors Attracted to Leading Provider of Vision Plans

Goldman Sachs, HBOS Lead U.S. Company Debt Sales

Goldman Sachs Group Inc., the world's largest securities firm by market value, and British mortgage lender HBOS Plc led companies selling about $29.9 billion in bonds this week as borrowing costs reached their lowest in a month.

Qwest Reports Strong Q4 And Full Year 2006

Qwest Communications International Inc. today reported fourth quarter and full year 2006 results highlighted by steady revenue, a full year and four consecutive quarters of net income and earnings per share, and 10 consecutive quarters of year-over-year margin expansion.

How to Avoid Going Further into Debt this Valentine’s Day by Informa Research Services

-With the holiday season behind us, dealing with post-holiday debt can be a challenging experience for some, according to Informa Research Services.

Law101: Unlawful debt collections

College students wrestle with studying for exams, holding jobs, and worrying about whether their major will ever land them a job. On top of all this, many will be stepping into the "real world" thousands of dollars in debt - and that's not just loans.

Wastewater rates vote set

Action on a proposal to increase wastewater services rates in order to refinance bonded debt and keep the city's wastewater fund in the black will come before the Hope City Board of Directors tonight.

Harp’s Crossing members move into new building — completely debt free

Harp’s Crossing Baptist Church in Fayetteville celebrated its 25th Anniversary last year, but that was not the only milestone for the church in 2006.

DIY Real Estate Solutions Inc. Partners with NCC Business Service to Offer Automated Debt Collection

DIY Real Estate Solutions™ announced today that it has agreed to integrate the debt collection services offered by NCC Business Services into its web-based property management software. NCC Business Services is a debt recovery and accounts receivable management company that specializes in delinquent account recovery services nationwide.

US stocks: Wall St seen lower, services report in focus

The US stock futures indicated a weak start on Wall Street on Monday as investors tried to lock in profits after last week’s rally and awaited an economic report for clues about the outlook for US interest rates.

Try these remedies for holiday debt hangover

It's called a "debt hangover" in the credit counseling industry. It refers to the shock and depression that starts sometime after Jan. 20, when the credit card bills start rolling in with the total charges of all those gifts.

APAC Customer Services Completes Debt Refinancing

APAC Customer Services, Inc. (Nasdaq: APAC), a leading provider of customer care services and solutions, today announced that it has completed a refinancing of its Amended and Restated Loan and Security Agreement, dated October 31, 2005, with LaSalle Bank National Association.

S&P cuts, Moody's to review Triad debt

Standard & Poor's Ratings Services on Monday lowered its corporate credit rating for Triad Hospitals Inc., and Moody's Investors Service said it placed Triad's debt ratings under review for possible downgrade, after the company agreed to be acquired for about $6.4 billion, including the assumption of $1.7 billion in debt.

United Airlines Restructures $3 Billion Secured Debt Facility, Pays Down Loan by Nearly $1 Billion,

United Airlines, the primary subsidiary of UAL Corporation (NASDAQ: UAUA) , announced today that on February 2, 2007, it used cash to pay down $972 million of its original $3 billion exit facility, and refinanced the remaining $2 billion.

Financial Services Authority issues stark warning on debt

The Dow Jones Index hit a fresh all-time high yesterday, closing at 12,622, as the Federal Reserve kept interest rates on hold at 5.25%.

When the medical debt starts piling up

When Janet Frederick of Urbana had breast cancer in the late 1990s, her medical bills started piling up fast. And so did her money problems. Advertisement Frederick, 52, had health insurance but couldn't afford all the copayments for her doctor visits and medicines

Bulk of county debt dedicated to building schools

Rutherford County can only afford half the debt it takes to build two schools per year to keep up with 2,000 more children coming here annually, an official said.

The Center: Once in debt, the future looks promising

Much as someone in credit card debt recovers from heading in the wrong direction, those operating The Center, 600 Campbell St., are in a state of recovery.

Debts on the rise in Dorset

DEBT problems are on the rise for people in Dorset.

Deadbeat ads: Why advertising agencies eat debt

When an advertising agency gets stiffed by a client, it doesn’t tell Junior and Sonny to take the deadbeat out back to straighten him out with a sock full of rocks.

Outrunning the debt cycle

Albert Einstein was reportedly quoted as saying: “The most powerful force in the universe is compound interest”. Veteran newsletter writer Richard Russell frequently refers to the power of regular compounding of returns over the long-term as the key to long-term wealth, especially in the short article “Rich Man, Poor Man”.