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Debt Research News - August, 2007















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

Credit Research News - August, 2007



Fitch Rates San Luis Obispo County Fin Auth, California's $206.4MM 2007A & 2007B Revs 'A+'

Fitch assigns an 'A+' rating to San Luis Obispo County Financing Authority, California's (the authority) $206.4 million Nacimiento Water Project revenue bonds



S&P's Lowers Advanced Medical Rating

Standard & Poor's Ratings Services said Friday that it lowered Advanced Medical Optics Inc.'s corporate credit rating to "B+" from "BB-"



Penn and Brandywine Realty Trust Announce Collaborative Redevelopment of U.S. Postal Service

The University of Pennsylvania has completed its acquisition of various U.S. Postal Service facilities in the University City



Nursing home company arranges to pay tax bill

The Cogburn nursing home and rehabilitation business has arranged to borrow about $4.4 million, more than half of which will be used pay a federal tax debt



Integrated Electrical Services Announces Settlement With SEC

Integrated Electrical Services announced today that it has reached a civil settlement with the U.S. Securities and Exchange Commission (SEC)



Property owners in Gainesville to face higher taxes

Gainesville property owners will notice an increase in taxes this year, even after a proposed decrease in the tax rate.



Looking at the Four-Year Financial Plan

The latest gyrations on Wall Street may complicate the city's financial picture somewhat but, assuming things do not go badly awry



Big bucks, big plans for port

In the next decade, the Port of Tacoma will embark on more than $800 million worth of construction projects to develop the east side



Fitch Rates St. Louis Muni Finance Corp., Missouri's $143MM Lse Revs 'BBB+'; Outlook Positive

Fitch has assigned a 'BBB+' long-term rating to St. Louis Municipal Finance Corporation, Missouri's $143 million Taxable Leasehold Revenue and Refunding Bonds



Franklin Resources Drops Opposition to TXU Buyout (Update3)

TXU Corp.'s largest shareholder, Franklin Resources Inc., dropped its opposition to the $32 billion buyout of the Texas power producer



Vantage Energy Services To Acquire All Common Shares Of Offshore Group Investments For $331 Mln

Vantage Energy Services Inc. (VTG, VTGU, VTGWT) said it has signed a definitive share purchase agreement to acquire all of the shares



Two Wireless Firms With Upward Mobility

TELECOMMUNICATIONS HAS BEEN THE STANDOUT performer in the Standard & Poor's 500 index the last 12 months



Compton Petroleum outlook cut to negative on capital spending fears - S&P

Standard & Poor's Rating Services has revised its outlook on Compton Petroleum Corp to negative from stable, citing concerns



Tuition increases benefit faculty

Tuition and fees increased six percent from last year. The maintenance fee went up $112 this year bringing the total maintenance fee



No public opposition to higher budget in Edwardsville

Despite holding a required public hearing prior to the passage of the 2008 Edwardsville City Budget, members of the City Council



Greif, Inc. Reports Third Quarter 2007 Results

Greif, Inc. , a global leader in industrial packaging with blending, filling and packaging services, a focused and integrated containerboard



Award-WinningACCESS Receivables Management Company Develops First Animated Debt Collector on the Web

ACCESS Receivables Management (http://www.access-receivables.com), an award-winning diversity-owned collection agency



Fees for services may be raised to lower debt

Dog owners, inmates and people who want to cremate their loved ones could shoulder some of Macomb County's debt



AT&T's 2 bln usd senior unsecured debt rated 'A' - Fitch

Fitch Ratings assigned an 'A' rating to AT&T Inc's issuance of 2 bln usd of senior unsecured debt due 2037.



Enseco Energy Services posts huge $26.3-million loss in second quarter

Enseco Energy Services Corp. (TSXV:ENS) said Tuesday it plans to issue millions of additional shares as part of a renegotiation of its debt



Subprime Spillover: Who's Next?

The billion dollar question on Wall Street these days is: Which companies will get swept away next in the subprime spillover?



ISS says TXU deal should be approved

TXU Corp.'s proposed sale to a group led by Kohlberg Kravis Roberts & Co. and TPG Inc. should be approved, Institutional Shareholder Services Inc. said.



Roundtable participants prefer marinas, McMorran among cuts

If Port Huron slashes spending this autumn as expected, likely targets include the city's marinas



Avago Technologies Announces Third Quarter Fiscal 2007 Financial Results

Avago Technologies, a leading supplier of analog interface components for communications, industrial and consumer applications, today reported financial results



Sector Snap: Mortgage Banks

Not all bank mortgage portfolios are created equal, a security analyst said Monday, adding that the sector's current turmoil



CT Communications CEO to retire

The chief executive of CT Communications Inc. will retire from the company after Windstream Corp. buys it Friday.



The Bank's Still Open For Some M&A Dealmakers

For some companies trying to finance megamergers, the bank window is still open



Efforts to Change Flood Insurance Stall

Despite promising changes, Congress has shown little enthusiasm for taking the unpopular steps that experts say are necessary



Consumers Suffer from Lack of Regulation

National Financial Awareness Network President John Janney expressed concerns over recent studies showing that minorities



Business organization warns of credit services company

Better Business Bureau has received at least 18 complaints about businesses



Staying Out Of Debt While College Shopping

With thousands of college students going back to school, retailers say this weekend is like "Black Friday" all over again.



City debt could stall work

Chuck Winkelman figures the roads, curb and gutter, sidewalk and sewer and water lines in his core St. Cloud neighborhood



Trico Marine files for $250 mln debt, stock shelf

Trico Marine Services Inc. (TRMA.O: Quote, Profile , Research) filed with regulators on Friday to periodically sell up to $250 million in debt securities



X-Rite Ratings Under Review

Two debt rating services on Friday placed their ratings for X-Rite Inc. under review for possible downgrades, citing the company's plans



S&P Rates General Mills Notes "BBB+"

Standard & Poor's Ratings Services said Friday it assigned a "BBB+" senior unsecured rating, which is an investment-grade designation



Who To Go To For Debt Advice?

Personal debt is not only a very common problem in Western countries; it is a very difficult problem to prevent



Tax rate to drop without cuts in services, city says

Carrollton property owners can look for a small dip in the property tax rate this year.



Commentary: It’s time to give city budget a brake

As the work intensifies to shape a 2008/09 Eden Prairie city budget, it is a time for the City Council to balance spending and taxes



Sullivan campaign debt leads to arrest of former treasurer

Surprise Councilman Gary "Doc" Sullivan paid $1,380 to the Maricopa County Attorney's Office on Wednesday to put behind him



Ratings Roundup: Hatherley, RenRe (debt) DR, Cathay Century

A.M. Best Co. has assigned a financial strength rating of "A-" (Excellent) and an issuer credit rating of "a-" to Bermuda-based Hatherley Insurance Ltd.



S&P May Upgrade MGM Mirage Debt Ratings

Standard & Poor's Ratings Services said Wednesday it may upgrade MGM Mirage's debt ratings following news that Dubai World



National Energy Services Retains iCapital as Its Investment Banking Firm

National Energy Services Company, Inc. , an energy conservation product and management company providing cost effective solutions



PowerShares Expanding Fixed-Income Initiatives With Industry's First Emerging Markets Sovereign Debt

PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs), announced today it has filed a registration statement



Citigroup Can't Dodge Debt Crisis

THE PRICE TARGET ON Citigroup [rated at Market Perform] is being lowered to $53 per share from $57 per share.



MSB Awarded State of Utah Debt Contract

MSB has been awarded a contract with the State of Utah to collect delinquent debt accounts.



Tribune Shareholders Back Zell's $8.2 Billion Buyout

Tribune Co. shareholders approved an $8.2 billion buyout led by billionaire Sam Zell and must now wait to see if his purchase



Oilfield Services' Steady Flow

Better late than never, I suppose. On Monday, Standard & Poor's raised its credit rating on Halliburton (NYSE: HAL), the second largest company



Source: Fund, GE Make Offer for Calpine

Hedge fund Harbinger Capital Partners and General Electric Co. have offered to purchase a controlling stake in Calpine Corp.



S&P Lowers Ratings on Tribune Co.

Standard & Poor's Ratings Services on Monday slightly lowered its ratings on newspaper publisher Tribune Co.



Free Yourself From Debt With Online Debt Consolidation

Heard of a great debt consolidation company not located in your city? Try out the online debt consolidation services offered by them!



The M&A Deals Most at Risk

The credit crunch throws the closing of some buyouts into doubt, as private equity firms face pressure from banks and debt buyers to revise the terms



Home prices boosting U.S. household debt: Kohn

Rising home prices and innovations in the financial sector are the two biggest factors in the spike in U.S. household debt and the related decline in savings



Red Alert

The world’s financial markets may have stabilised after the turmoil of the last few weeks, but the big question remains unanswered. Is this a mere ‘correction’ or the start of an economic Armageddon?



Vote on emergency services merger nears

Brunswick County would bail out Shallotte volunteers, assume debt



Christian Credit Card Debt Solution – For Concerned Christians

Have you ever heard of Christian credit card debt solution? It is quite evident that today, for an average American it is very normal to be in debt



Tax-free shopping can drive up credit card debt, hurt state services

Savings from back-to-school tax-free shopping this weekend may help pay for an additional shirt or pair of jeans for some families.



Caspian Services Inc. Announces Third Fiscal Quarter 2007 Results

Caspian Services, Inc. recently filed its quarterly report with the Securities and Exchange Commission



School districts charging fees turn to debt collection services

Some schools in Ohio are turning to collection services to force parents to pay fees associated with student supplies



Three Stocks Tied to Risky Debt

The house of pain still has a long way to play out for the mortgage market. Even if the Federal Reserve pumps liquidity



Downgrades Dunk Countrywide

The run on Countrywide (CFC - Cramer's Take - Stockpickr - Rating) stock intensified Thursday morning after the struggling mortgage lender



Rating agencies downgrade ResCap to 'junk'

Fitch Ratings and Moody's on Thursday both said they would cut Residential Capital Corp.'s rating to junk status



Treasuries Surge as Slump in Stocks Feeds Demand for U.S. Debt

Treasuries advanced, pushing two- year yields to the lowest in 22 months



Patient Safety Technologies Restructures $2.95 Million of Existing Debt and Accrued Interest

Patient Safety Technologies, Inc. (OTCBB:PSTX) announced today that on August 10, 2007 it entered into definitive agreements



S&P May Cut Beazer's Debt Ratings

Standard & Poor's Ratings Services said Tuesday it may cut the "BB-" corporate credit and senior unsecured debt ratings



BIO-key Reports Second Quarter 2007 Results

Company reports quarterly earnings and deepens customer relationships



AirNet Systems, Inc. Reports Second Quarter 2007 Results

AirNet Systems, Inc. today reported net income of $3.5 million, or $0.35 per diluted share for the three month period ended June 30, 2007, versus $2.0 million



Sentinel invested in longer-term debt securities

Sentinel Management Group Inc., a firm that manages cash for other investors, holds debt with longer maturities than money-market funds and other so-called safe savings and investment vehicles.



Limco-Piedmont Inc. Reports Record Results For Second Quarter 2007

Limco-Piedmont Inc. today announced that revenues for the second quarter of 2007 reached $18.0 million



S&P sees good news for bondholders in Novant-MedQuest deal

Standard & Poor's Ratings Services put its ratings on MedQuest Inc. and its parent company, MQ Associates Inc., on CreditWatch with positive implications.



MISCOR Group Reports Increased Sales, Net Income in Second Quarter

Industrial services provider MISCOR Group, Ltd. reported a return to profitability on a 16 percent increase in revenues



Wilshire Analytics Launches New Generation of the Wilshire Axiom

In a continuing effort to provide clients with sophisticated tools and services, Wilshire Analytics, a worldwide leader in providing innovative portfolio



Birner Dental Management Services, Inc. Announces 10.0% Adjusted EBITDA Increase for 2Q 2007

Birner Dental Management Services, Inc. , operators of PERFECT TEETH(R) dental practices, announced results for the quarter and six months ended June 30, 2007



TXU Pitches Buyout, Warns Market Upheaval Narrows Alternatives

TXU Corp. began a new round of pitching its $45 billion buyout to shareholders on Monday



Integrated Electrical Services Reports Fiscal 2007 Third Quarter Results

Integrated Electrical Services, Inc. today announced net income of $1.2 million and diluted earnings per share



Kohlberg Capital Corporation Reports Second Quarter 2007 Financial Results

Kohlberg Capital Corporation (Nasdaq:KCAP) ("Kohlberg Capital") today announced financial results for the three and six months ended June 30, 2007



Verso Announces Second Quarter 2007 Financial Results

Verso Technologies, Inc. (Nasdaq:VRSO), a global provider of next generation network solutions, announced today its second quarter 2007 financial results



Debt Problems – How To Manage Yourself Out Of Debts

Are you having trouble paying your monthly bills? Or worried about losing your home and car because you have problems paying for your monthly installment?



Conversion Services International Comments on Company Outlook and Results

Conversion Services International, Inc. , a premier professional services firm focused on delivering business intelligence



Ahead of the Bell: Oilfield Services

A Jefferies & Co. analyst upgraded Transocean Inc. and GlobalSantaFe Corp. on Monday



4 Tips for Avoiding Financial-Services Fallout

The stock market has transformed from Dr. Jekyll into Mr. Hyde, at least in the financial-services industry



J&J Finds Demand for $2.6 Billion of Bonds Amid Rout

Johnson & Johnson, one of eight U.S. companies with AAA credit ratings, raised $2.6 billion in its biggest bond offering



Treasury Auctions Set for This Week

The Treasury’s schedule of financing this week included today’s regular weekly auction of new three- and six-month bills



Low Rate Debt Consolidation Loans—avail Loan At Your Rate

Are you finding it difficult to avail a new loan at low interest rate in order to pay off previous debts?



Med Gen Pays off $1.44 Million in Debt

Med Gen Inc. (OTCBB:MGEN) (“MGEN”), manufacturers of nationally branded OTC healthier life products



Medical Scanner Back From Quick Bankruptcy

InSight Health Services Holdings Corp., a provider of medical scanning services with yearly sales of $300 million



SIRVA Reports Results for the Second Quarter and Six Months Ended June 30, 2007

SIRVA, Inc. , a global relocation services provider, today reported second-quarter and six- month results



Jewish Hospital organization debt downgraded

Moody’s and Standard & Poor’s downgraded their ratings on Jewish Hospital & St. Mary’s HealthCare’s debt in recent weeks



SMF Energy Corp. refinances to lower debt

SMF Energy Corp. said it has sold $11.8 million in debt and equity securities and used the proceeds to redeem $11.3 million worth of senior secured subordinated debt.



AmTrust Financial Services, Inc. Reports Record Second Quarter Net Income of $21.4 Million

AmTrust Financial Services Inc. (Nasdaq:AFSI), today reported net income of $21.4 million and revenues of $152.9 million



CECO Environmental Reports Record Second Quarter and Six Month 2007 Results

Six Month Revenues Increase 83% to $102.7 MillionSix Month Operating Income Increases 200% to $5.8 Million



Wisconsin Power and Light Company Announces Pricing of Debt Offering

Wisconsin Power and Light Company (WPL), an Alliant Energy company , has priced a public offering of $300 million



TeleCommunication Systems Reports Record Second Quarter 2007 Revenue

Higher Government Systems Revenue More Than Offsets Lower License Sales; Funded Backlog Rises to Record Level



Deep Down Completes $6 Million Financing

Deep Down, Inc. today announced that it has entered into a $6 million secured credit agreement with Prospect Capital Corporation



Superior Well Services, Inc. Announces Second Quarter Results

Superior Well Services, Inc. announced today its second quarter results.



The 'Freakonomics' Take on Real Estate

Could the name of your street affect the price of your home?



Citigroup, Kraft Sell Bonds as Demand for Debt Rises

Citigroup Inc., the largest U.S. bank, and food maker Kraft Foods Inc. led borrowers selling $15.1 billion of bonds



TechTeam Global Reports Second Quarter 2007 Financial Results

TechTeam Global, Inc. (the "Company") , a worldwide provider of information technology, enterprise support and business process outsourcing services



Debt Consolidation Companies – Why Pay When You Can Do-it-yourself?

You are already in debts and the last thing you figure is to pay for the service of debt consolidation companies or programs that will only further increase your debts.



Aging into debt

My mother has a lot of credit card debt. She recently agreed to let a credit company help her pay this debt.



Lincoln Educational Services Corporation Reports Second Quarter 2007 Results

Lincoln Educational Services Corporation ("Lincoln") today reported second quarter 2007 results.



US healthcare hit by hospital bad debts

Bad debts at hospitals from unpaid patient bills are triggering deep and growing problems within the US healthcare system



AMN Healthcare Reports Second Quarter 2007 Results and Updates Annual Guidance

AMN Healthcare Services, Inc. , the nation's largest healthcare staffing company, today reported revenue of $293.9 million and diluted



Omni Reports Record Second Quarter Results

Company Continues Record PaceRevenues Increase 74%; Operating Income Increases 31%;Net Income from Operations Up 26%



ConforMIS Announces $10 Million Senior Debt Financing with Merrill Lynch Capital

ConforMIS, an innovative medical device company dedicated to developing and marketing patient-specific orthopedic implants



SMTC Refinances Debt, Lowers Interest Costs

SMTC Corporation , a global electronics manufacturing services provider, today announced it has signed new five year loan agreements



Bring Financial Discipline To Your Life By Credit Card Debt Management

The world is full of good things, which we can always acquire to make our life better.



Debt Settlement Program a Popular Alternative to Bankruptcy

Consumer Recovery Network (CRN) is announcing a variety of Debt Settlement Programs are now available to give consumers an alternative to bankruptcy



Dwindling oil revenues to put state budget in debt

Unless things change, the state could run out of money for operations within the next decade, state officials said



Treasuries Rise on Flight From Risk Before Fed Meeting on Rates

Treasuries rose for a fourth straight week, pushing the yield on the two-year note to an 18-month low



Bond prices gain after soft jobs, services data

U.S. government debt prices rose on Friday as soft data on the U.S. job market and services sector spurred more bond investors' bets



Clayton Holdings Reports Results for Second Quarter of 2007

Adjusted EPS from Continuing Operations of $0.10 per share- EPS from Continuing Operations of $0.02 per share



Boston Scientific's Bond Rating Is Cut by Fitch, S&P

Boston Scientific Corp., the world's second-largest maker of heart devices, had its credit ratings cut to below investment grade



Tesco Corporation Reports Earnings for Q2 2007 and Announces Tubular Services Acquisitions

Tesco Corporation ("TESCO" or the "Company") today reported net income for the quarter ended June 30, 2007 of $3.9 million, or $0.10 per diluted share.



Newpark Resources Reports Second Quarter 2007 Results

Newpark Resources, Inc. today announced results for the second quarter ended June 30, 2007.



The Bank of New York Mellon Appointed to Provide Corporate Trust Services for The Republic of Egypt

The Bank of New York Mellon, a global leader in asset management and securities servicing, has been appointed as fiscal



GoAmerica(R) Announces Agreement to Acquire Verizon's Telecommunications Relay Services Division

GoAmerica, Inc. today announced the execution of a definitive agreement under which it will acquire the assets of Verizon's Telecommunications Relay Services



West Pharmaceutical Services Announces Second Quarter 2007 Results

West Pharmaceutical Services, Inc. , the global market leader in closure systems and syringe components for use with injectable drugs



InfraSource Services, Inc. Reports Second Quarter 2007 Results

InfraSource Services, Inc. , one of the largest specialty contractors servicing electric, natural gas and telecommunications infrastructure



Quanta Services Reports Second Quarter Results

Quanta Services, Inc. today announced results for the three and six months ended June 30, 2007.



Five Oil Patch Guru Favorites

The huge profits raked in by oil companies over the past several years have been well documented, and the major oil refiners and marketers



OMNI Seismic Services Backlog Tops $75 Million

Despite Inclement Weather, Seismic Drilling Activity Remains at Record Pace Contracts Booked Extend Well Into 2008 Strong Cash Flow Used to Reduce Debt and Fund Future Organic Growth



S&P Cuts Rating on Conexant

Credit ratings agency Standard & Poor's Ratings Services said Wednesday it lowered its rating on Conexant Systems Inc.,



Gentiva(R) Announces Second Quarter and Six-Month Results and Reaffirms Financial Outlook

Gentiva Health Services, Inc. , the nation's largest provider of comprehensive home health and related services



Helix Reports Second Quarter Results

Helix Energy Solutions reported second quarter net income of $65.8 million, or $0.70 per diluted share, excluding three non-recurring items


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