Credit Research News - March, 2007

Don't Forsake America's Foreign Debt

WE ARE AT KEY TURNING POINT in America's foreign-debt status.

Moreno Valley hospital for sale

Valley Health System board members said Friday the district wants to sell Moreno Valley Community Hospital to ease its financial burden.

AirNet Systems, Inc. Reports Improved Fourth Quarter 2006 Results

AirNet Systems, Inc. today reported total net revenues of $42.8 million for the three months ended December 31, 2006 versus $42.2 million for the same period last year.

Fitch Rates Seattle, WA's $156MM GO Bonds 'AAA' & 'AA+'

Fitch rates the City of Seattle, Washington's (the city) $59,060,000 unlimited tax general obligation refunding bonds, series 2007, 'AAA' and $97,070,000 limited tax general obligation improvement and refunding bonds, series 2007, 'AA+'. The bonds will be sold competitively on April 18.

Ashmore Energy International Completes Refinancing of USD 1.0 Billion Senior Debt and Raises 500

Ashmore Energy International (“AEI”) announced today that it completed the refinancing of its senior debt.

PPGH looks to slow bleeding bad debt causing financially

New measures hope to reduce ER’s abuse by some

Fitch Rates DB Mortgage Services, LLC Primary & Special Svcr Ratings

Fitch assigns DB Mortgage Services, LLC (DBMS) a primary servicer rating of 'CPS3+' and a special servicer rating of 'CSS3'.

AMR to Invest Up to $100 Million in American Airlines Maintenance Services

AMR Corp. today announced it is planning to invest up to $100 million in its American Airlines Maintenance Services group as part of an ongoing effort to grow its third-party aircraft maintenance business.

City, county meet to discuss services

Officials have to agree on delivery areas to complete plan

AMR to invest $100M maintenance services group

AMR Corp. says it plans to invest up to $100 million in American Airlines' maintenance services group.

Steve Schwalb Named New Pioneer Human Services President and CEO

Former Chief Operating Officer of Federal Prison Industries returns to roots in Washington state

Proactive Customer Care Drives Growth in North America Outbound Dialing Services Market

Proactive customer care programs continue to rise in popularity as companies seek to deliver unique, personalized messages to their consumers.

The Coast to make its case for $4.1 million debt waiver

Residents describe their need for bus system

Young Financial Services Consumers Still Want the Personal Touch

Recent Mintel Report Shows Less than 40 Percent of Young Consumers Turning to Online Banking

Group pays off $650,000 debt on building that will house museum

The group that plans to open the Allegany County Museum at the current district court building has paid off a $650,000 mortgage, but it's not about to kick out the state agencies quite yet.

Debt advice takes the worries away

People in debt don't know where to go for advice, a survey has found. It is estimated about 3.7 million people are in serious financial problems ...

City nears fiscal crisis

A distressed city for the last 15 years, Scranton could now be on the brink of a fiscal crisis, the city’s business administrator said.

LG-Nortel Innovations Power SK Telecom Next-Generation Wireless Services

Advanced Optical and Wireless Backhaul Technologies Increase Network Capacity and Decrease Operator Costs

Northampton approves 2007 capital projects

Northampton's projected costs for capital projects for 2007 has risen from last year's estimate of $3.1 million to over $9 million due to increases in the cost of a proposed $4.4 million county administration office renovation project

City debt to take mega-leap

Demands of a burgeoning city could force tab over $100M mark

Intelligentias Announces $8 Million Conversion of Debt into Common Stock

Intelligentias, Inc. (BULLETIN BOARD: ITLI) , a recognized leader in the Homeland Security Industry providing Data Retention, Tracking and Investigatory Services for Telcos, ISPs and Law Enforcement Agencies around the world, announced today that it has signed an agreement with New York-based Vision Opportunity Capital Management, LLC

Nationwide Considers Debt Refinancing

Nationwide Financial Services Inc. said Tuesday its management is considering refinancing $300 million in debt to help it meet long-term financial targets.

Clayton Holdings Announces Credit Rating Upgrade and Debt Repricing

Clayton Holdings, Inc. (NASDAQ:CLAY), a provider of information-based analytics, consulting and outsourced services for capital markets firms, lending institutions, fixed income investors and loan servicers, today announced that its corporate debt ratings have been upgraded.

The GEO Group Repays $200 Million in Term Loan Debt

The GEO Group (NYSE:GEO) (“GEO”) announced today that it used $200.0 million of the aggregate net proceeds of approximately $226.3 million from its recent follow-on offering of 5,462,500 shares of its common stock...

US Airways completes $1.6 billion debt refinancing

US Airways Group, Inc. has announced that it has completed a $1.6 billion debt refinancing transaction.

How To Avoid Bankruptcy

We all start out on our own financial journey in much the same way. We start out with a small loan, maybe with a relative co-signing for us, and we build and establish our credit one step at a time.

Cbeyond: Seeing Growth, Seeing Green

Lucas Ames submits: Cbeyond. Inc. (CBEY) provides managed Internet protocol-based, or IP-based, communications services to its target market of small businesses in select large metropolitan areas.

Are Your Debts Out Of Control? You May Need A Debt Reduction Service

Many consumers are understandably reluctant to admit, even to themselves, that they are burdened with more debt than they can handle.

Fitch Rates Chesterfield County, Virginia's $99.2MM GOs 'AAA'; Stable Outlook

Fitch assigns an 'AAA' rating to Chesterfield County, Virginia's (the County) approximately $99.2 million general obligation (GO) public improvement bonds, series A of 2007 and GO public improvement refunding bonds, series B of 2007, scheduled for competitive sale on Mar. 29, 2007

HealthSouth To Sell Surgery Division To TPG For $945 Mln - Update

Monday morning, HealthSouth Corp. (HLS | charts | news | PowerRating), a provider of ambulatory surgery and rehabilitative healthcare services, revealed an agreement to sell its surgery division to TPG Inc...

VoteMeDebtFree.com Launches Social Debt Relief Reward Site

VoteMeDebtFree.com offers a social answer to debt in allowing members chances to receive debt relief decided primarily by their peers.

Moody's downgrades ComEd to junk status

The debt rating of Illinois' largest power supplier was downgraded to junk status Monday as state lawmakers continued to haggle over a proposed electric rate freeze that utilities say could force them into bankruptcy.

Recent study shows consumer debt worsening

A recent study done by a major credit bureau shows U.S. consumers are relying on their credit cards more than ever.

Pay soars for new hires at corporate law firms

Huge gap between private and legal aid lawyers

Law limits takeovers of debt-ridden cities

When the City of Ecorse was mired in debt in 1986, a judge appointed Louis Schimmel receiver and empowered him to sell off city assets, privatize services and renegotiate employee contracts to balance the books.

No tax increase for city of Hornell: Tax rate drops to $11.74 per $1,000 of assessed value

City of Hornell residents will see no tax rate increase again this year.

Government, private services pricing selves out of business

A funny thing happened on your way to the poorhouse. You were nickle and dimed and bamboozled into despair.

Fitch Rates Florida Facilities Pool $89.1MM Revs 'AA'

Fitch Ratings assigns an 'AA' rating to the Florida Department of Management Services' (the department) $89,145,000 Florida facilities pool revenue bonds, series 2007A.

Health care leaves many deep in debt

Study finds underinsurance, policy restrictions a big problem

No operating override needed as town saves money with lower benefit costs

An operating override to balance the municipal budget is off the table. The large gap between municipal expenses and revenue, which led the Board of Selectmen to endorse a $2.46 million operating override in December....

Zacks’ Discount Fundamental Strength Strategy Highlights

Combining strong underlying fundamentals with low valuations can lower risk and increase portfolio returns.

Inside Entrepreneurship: Services 'loan' may end up costing you

I am considering doing some moonlighting work for a startup that has no money. Should I lend my services to the company with the understanding that first investors pay back the debt, or just ask for stock?

SandRidge Energy, Inc. Closes Equity and Debt Financing

SandRidge Energy, Inc. ("SandRidge" or the "Company") today announced that it has closed on a private sale of approximately 17.8 million shares of common stock for $320 million and the funding of $1.0 billion of term loans.

Gentiva(R) Health Services Names Boelsen to Lead CareCentrix(R) Ancillary Care Benefit Management

Gentiva Health Services, Inc., the nation's largest provider of comprehensive home health and related services, today announced the promotion of Thomas M. Boelsen to lead its CareCentrix

Petrowest Energy Services Trust releases year-end results, and provides management update

Petrowest Energy Services Trust ("Petrowest" or the "Trust") (TSX - "PRW.UN") is pleased to present its first year-end report since becoming a publicly traded trust.

Newtek Business Services Earns $.11 in Q4

Newtek Business Services, Inc. (Nasdaq: NEWT) (http://www.newtekbusinessservices.com), a direct distributor to the small to medium sized business market announced today that is has reported earnings for the fourth quarter of 2006.

Language Access Network Restructures Over $600K in Short Term Convertible Debt

Language Access Network (Pink Sheets: LANW), the leader in video interpretation services, announced today that it has renegotiated over $600K of its short term convertible debt for an additional three year term.

Birner Dental Management Services, Inc. Announces 19.0% Adjusted EBITDA Increase for 2006

Birner Dental Management Services, Inc. , operators of PERFECT TEETH(R) dental practices, announced results for the year ended December 31, 2006.

If you're not billed, do you owe debt?

The owner of Alonso's, Loco Hombre, Miss Shirley's and S'ghetti Eddie's restaurants in Keswick is haggling with Baltimore County over a $60,000 bill involving his catering business in Owings Mills.

Tuition going up to get debt down

Tuition will be up $119 next year and budget deficit reduction is a major goal of the university, President Albrecht said, in a public forum about Tier II tuition Tuesday.

Affiliated Computer gets $5.93B offer

An investment group that includes the founder and chairman of Affiliated Computer Services is offering $5.93 billion in cash to take the information technology services company private.

ePayments Corp. Helps School Lunch Programs Recover From Bad Debt

iSmart Check Processing System Helps Lunch Programs Recover 100 Percent of Bad Check Debt

Fitch Places Affiliated Computer Services on Rating Watch Negative On LBO Offer

Fitch Ratings has placed Affiliated Computer Services, Inc. (ACS) on Rating Watch Negative following the proposed offer from Darwin Deason...

Medicare Contractors Owe Taxes, GAO Says

The federal government has failed to collect more than $1 billion in back taxes owed by Medicare doctors and suppliers, nearly half of it payroll taxes deducted by health-care providers...

Heavy debt burdens graduates, survey says

More than one-third of college students with student loans are pessimistic about their financial stability after graduation, according to an online survey.

Tax debt no obstacle to Medicare payments, audit finds

Doctors and other health care providers who owe the federal Treasury more than $1 billion in back taxes are still receiving government checks for treating Medicare patients.

In Debt to Bad Ideas

Why the trade deficit is less of a problem than you think.

GenTek Inc. Announces the Restructuring of Its Debt Including Redemption of Second Lien Term Loan

GenTek Inc. (Nasdaq:GETI) today announced the successful restructuring of its long-term debt obligations and the redemption of the Company's entire second lien term loan.

Tarragon Corporation Announces Fourth Quarter and Year End 2006 Financial Results

Debt on completed condominiums reduced by nearly 50 percent in 2006

Are you staring bankruptcy in the eye? You have options

Do your monthly bills add up to more money than your income? Did a divorce or health care crisis set you back financially?

Five Poor Countries Have Debt Forgiven

The Inter-American Development Bank (IDB) announced Friday that it would forgive a debt of $4.4 billion owed by the five poorest countries...

From Salesian to sewer fees

Village of Goshen candidates debate the issues

US organisations call on IDB to cancel Haiti's debt immediately

When the Inter-American Development Bank meets this weekend (March 16-20) in Guatemala City, the agenda will include finalizing a proposal to cancel the debts of five countries: Bolivia, Nicaragua, Honduras, Guyana, and Haiti.

Bally warns of bankruptcy; stock plunges

Please register or log in | Subscribers: Get the Advantage Search: chicagotribune chicagotribune Google chicagotribune.com >> Business Bally warns of bankruptcy; stock plunges By James P. Miller Tribune staff reporter Published March 16, 2007, 11:32 AM CDT Bally Total Fitness Holding Corp. shares lost more than half their value Friday morning, in the wake of the Chicago health club operator's Thursday evening warning that it may be obliged to seek Chapter 11 bankruptcy protection unless it can restructure its debt.

Debt Collection 101 for small businesses

Finding ways to ensure prompt payment is an age-old issue for businesses.

First Data To Buy Payment Processing Business

Electronic payment processor First Data Corp. said Friday it has signed a definitive agreement to acquire Instant Cash Services, a debit and ATM payment processing business, from a subsidiary of Wells Fargo & Co.

American Education Services Announces the Spring $20,000 Lighten Your Loan Sweepstakes

Sweepstakes Helps Students and Recent Grads Repay College Loans

Amkor Tech: Debtload, Nepotism Spell Trouble For Stock

David Phillips (10Q Detective) submits: From looking at Amkor Technology’s (AMKR) regulatory filings, an investor can see the muddy footprints—for better or worse?—of the Kim family in the operational scope of the Company’s semiconductor assembly and testing services.

Fitch Downgrades Universal Health Services to 'BBB'; Outlook Stable

Fitch Ratings has downgraded Universal Health Services, Inc.'s (UHS) ratings as follows:

Automated Debt Collection Software Eases the Headache of Collecting Unpaid Debt

A growing company of Business Technology Professionals announces the release of CollectionStream, a fully automated customizable web application for businesses in need of a debt collection solution.

Clarity Care steadily pays back its county debt

Clarity Care announced that it is one payment ahead of paying its $1.1 million debt to Winnebago County on Tuesday evening at a special session of the County Board.

S&P puts TXU debt on its watch list

Credit agency Standard & Poor's Ratings Services said Tuesday that it has rated two new debt offerings by TXU Corp. business units and placed the ratings on a watch list with negative implications.

A.M. Best Places Ratings of Sierra Health Services and Its Subsidiaries Under Review

A.M. Best Co. has placed the issuer credit rating (ICR) and debt ratings of “bb+” of Sierra Health Services Inc (Sierra) (Las Vegas, NV) [NYSE: SIE] under review with positive implications.

Bebchuk testifies before House Financial Services Committee

Professor Lucian Bebchuk, LL.M. '80 S.J.D. '84 testified before the U.S. House of Representatives Committee on Financial Services on March 8 in a hearing on executive pay.

GMAC Financial Services Reports 2006 and Fourth Quarter Earnings

GMAC Financial Services today reported 2006 net income of $2.1 billion, compared to net income of $2.3 billion in 2005.

High city water bills due to debt

A recent survey by the city of Nacogdoches showed that out of seven East Texas cities, Nacogdoches had the highest combined residential water/sewer/garbage bills.

ClearApp Secures Additional Financing from TriplePoint Capital

ClearApp, the only company offering Application Performance Management (APM) Automation(TM) for portal, J2EE and SOA applications, today announced the Company secured up to $5.0 million in debt financing from TriplePoint Capital.

New Century's Debt Problems Worsen

The New York Stock Exchange will continue to halt New Century Financial (NEW)'s trading until information about its liquidity and financing efforts has been disseminated.

UnitedHealth Group Signs Definitive Agreement to Acquire Sierra Health Services, Inc.

UnitedHealth Group (NYSE:UNH) and Sierra Health Services, Inc. (NYSE:SIE) (Sierra) today announced that they have signed a definitive merger agreement under which UnitedHealth Group will acquire all of the outstanding shares of Sierra, a diversified health care services company based in Las Vegas, for $43.50 per share in cash, representing a total equity value of $2.6 billion.

Hydrogen Power Reduces Debt Hanging over from Merger

Hydrogen Power, Inc. (OTCBB: HYDP) (“HPI”) announced today that it is making significant progress in extinguishing remaining liabilities following the recent change in control of the Company.

Payday lenders react to lawmaker pressure

Soft music plays in the background of a new TV ad campaign as it urges viewers to only use payday loans for emergencies.

Debt, deficit plague `Jewel on Main'

With large payments due to city and county in 2008, long-term solutions unclear

Tax-exempt defense: ‘Community benefit’

magine a local company with more employees than the General Motors plant and an amount of land and number of buildings similar to Lutheran Hospital.

Credit card debt a leading topic

“We’re paying $1,000 a month on a 20 percent interest credit card. How do we make that debt go away?

Raising Maryland bond debt debated

For the first time in decades, Maryland is about to hit its credit limit.

Last of church land debt nearly retired

The vision of a new home is becoming clearer to members of St. Demetrios Greek Orthodox Church.

The national debt: $8,800,000,000,000

Economists warn that as it gets ever bigger, the cost of financing it pulls more and more money away that could be put to better use.

Senior money gets OK

Another $580,000 in assistance to the elderly was approved from the senior services levy, leaving just transportation to be decided.

A.M. Best Assigns Debt Ratings to The Hartford’s Senior Notes

A.M. Best Co. has assigned a debt rating of “a-” to The Hartford Financial Services Group, Inc.’s (The Hartford) (Hartford, CT) [NYSE: HIG] $500 million 5.375% 10-year senior unsecured notes.

Bad debt on the rise

A GROWING number of Australian households are falling behind in the mortgage payments as record indebtedness, rising interest rates and high petrol prices continue to bite.

Military saves campaign: the war on debt in our military

The Department of Defense designated the week of Feb. 25 to March 4 as the week for the Military Saves Campaign, but anytime is a good time to start a savings plan.

Be Wise By Consolidating Your Credit Card Debt And Saving Money!

It is essential once you decide to consolidate your debt to evaluate if you are going to be saving money while at it.

'Maxed Out': Serious Matters Of Life and Debt

"Maxed Out," a film about the consumer debt crisis, might as well be ripped from the headlines, in light of last week's stock market plunge (blamed in part on too many mortgages sold to high-risk home buyers).

Lincoln Financial Group Announces Pricing of Debt Offering

Lincoln Financial Group (NYSE: LNC) today announced that it has priced an offering of $500 million of 6.05% Capital Securities

The Phone Rings. It's a Debt Collector.

Is it YOUR Problem or THEIRS? 'Know when you are being harassed. The 'Top Five' ...'

Carriage Services Reports Fourth Quarter and Year End 2006 Results and Reaffirms 2007 Outlook

Carriage Services, Inc. today reported financial results for the quarter and year ended December 31, 2006. Results for the fourth quarter 2006 were as follows:

Care One Gives Debt Strapped Consumers More Options

With the average American household debt climbing, consumers are turning towards new methods to get out of debt. Care One Credit Counseling Services can help you explore your rights as a consumer, and explain available options to get your finances back on track.

Lincoln Educational Services Corporation Reports Year End and Fourth Quarter 2006 Results

Lincoln Educational Services Corporation LINC ("Lincoln") today reported fourth quarter and 2006 year end results.

S&P: Lilly (Eli) & Co. Senior Unsecured Debt Rated 'AA'; Other Ratings Affirmed

Standard & Poor's Ratings Services assigned its 'AA' senior unsecured debt rating to Eli Lilly & Co.'s (Lilly) $2.5 billion debt offering.

S&P rates Hartford Financial notes

Standard & Poor's Ratings Services on Tuesday assigned a senior unsecured debt rating of 'A' to Hartford Financial Services Group Inc.'s issuance of $500 million in senior unsecured notes.

Moody's revises bank debt ratings system

Most U.S. and foreign banks and financial institutions can expect an upgrade of their debt and deposit ratings the next few months as Moody's Investors Services launches a system...........

Charter Announces $100 Million Tender Offer for Debt Securities

Charter Communications, Inc. (NASDAQ:CHTR) announced today that its indirect subsidiary, Charter Communications Holdings, LLC (“Charter Holdings”), has commenced a cash tender offer (the “Tender Offer”) for certain of its outstanding senior notes listed in the table below (the “Notes”).

Conversion Services International Raises $4,000,000 to Facilitate Retirement of Debt

Conversion Services International, Inc. , a premier professional services firm focused on delivering the value in business intelligence, data warehousing and data management solutions to Global 2000 organizations and other businesses

Moody's upgrades Hewlett-Packard's debt ratings

Moody's Investors Service on Tuesday raised its debt ratings for Hewlett-Packard Co. (HPQ.N: Quote, Profile, Research), citing the company's improved profitability.

Payday loan industry puts forward changes

Consumer advocates wary of $10 million ad campaign

US Economy Risks and Strategies 2007-2017

On Jan 31st, 2007, the President of the United States gave his speech on the “State of the Economy” citing strong economic growth, record Dow Jones performance and low unemployment rate.

i2Telecom Announces Repayment of Senior Debt

Transaction Moves Company Closer Toward Debt-Free Status; Company To Save Approximately $1 Million on Annual Debt Expense

Celanese Announces Plans to Refinance Debt and Repurchase Shares

Celanese Corporation (NYSE: CE), a global hybrid chemical company, today announced a comprehensive plan to refinance its existing senior credit facilities, senior subordinated notes and senior discount notes and to repurchase approximately $400 million of its common stock.

Medical Scanner InSight Offering Shares for Debt

HEALTHCARE: Deal would trade 87% stake to wipe out $200M debt

Emerging debt investors split between U.S. data, Asia

Emerging debt investors will have one eye on U.S. economic data this week and another on Asian markets, especially Chinese stocks and the Japanese yen, to measure how to adjust their appetite for risky assets after the recent global sell-off.

Why enact tax? Numbers tell the story

Why did they do it? Why did the Lane County commissioners enact an income tax without a vote of the people?

Out of debt, in with saving

A KC medical supply technician wants to end chronic struggle to find enough cash.

Mine's debt remains, a local creditor says

In 1997, two Hardin contractors, Kevin Kenney and his brother Kirby, loaned some of their heavy construction equipment to the Bull Mountain coal mine.

Cathedral Energy Services Provides 2006 Tax Information

Cathedral Energy Services Income Trust is pleased to provide the following information to assist Canadian and U.S. holders of trust units of the Trust in the preparation of their income tax returns.

Managing Credit Card Debt Can Help Financial Distress

A debt management company has the prime purpose to help debt laden individuals or business find their way out of debt.

Fitch Rates Milwaukee, WI's $66MM GO Cash Flow Notes 'F1+'

Fitch has assigned an 'F1+' rating to the City of Milwaukee, Wisconsin's $66,000,000 general obligation (GO) cash flow promissory notes, series 2007 R2, which mature March 27, 2008.

Company Profile for Perlinski & Associates

Perlinski & Associates – member NASD / SIPC was founded in 2004. P&A is a registered broker-dealer which provides Merger & Acquisition as well as Equity and Debt Financing services.

Screening: Maxed Out

One of the near-universal experiences of American life today is personal debt.

Valassis Completes Acquisition of ADVO

Combined Entity Creates Nation's Leading Marketing Services Company

AMN Healthcare Reports Fourth Quarter and Year End 2006 Results; Provides Full Year 2007 Guidance

AMN Healthcare Services, Inc. , the nation's largest healthcare staffing company, today reported revenue of $283.5 million and diluted earnings per share of $0.29 for the fourth quarter of 2006.

Natural Gas Services Group Announces Record Revenue and Net Income for 2006

Natural Gas Services Group, Inc. , a leading provider of gas compression equipment and services to the natural gas industry, announces its record financial results for the fourth quarter and twelve months ended December 31, 2006.

Campus Services projected to lose $6.7M

Operating cutbacks, increased revenue lower planned deficit

Trico Marine Services Reports 2006 Fourth Quarter and Year End Results

Trico Marine Services Reports 2006 Fourth Quarter and Year End Results; Record Revenues, Operating and Net Income Lead to Highes