Credit Research News - June, 2008

Is McCain's Service Record Fair Game?

Whoa, Clinton family confidante/new Obama surrogate Wesley Clark has gone where McCain opponents rarely go:

Fitch Rates Kershaw County Medical Center $18.8MM Series 2008 Bonds 'BBB+'; Outlook Stable

Fitch Ratings has assigned a 'BBB+' to approximately $18.8 million South Carolina Jobs-Economic Development Authority hospital facilities

Public sector jobs, a new way for student loan forgiveness

If you're facing years of student loan payments but aren't making much money because you're working in public service

Gull Holdings raises bid for Usana Health Services

Gull Holdings raises offer for Usana Health Services to $28 per share

DRS Bonded Services sued for unfair debt collection practices

Danielle Phillips filed a federal lawsuit against DRS Bonded Collection Services in United States District Court June 11

Digimarc Board Approves $310 Million All-Cash Offer from L-1 Identity Solutions for Digimarc's ID

L-1 Identity Solutions ("L-1") (NYSE: ID: 13.32, +0.01, +0.07%), a leading provider of identity solutions and services

Conquering Club Collections and Bad Debt in Your Health Club

As an independent health club operator, you do many things.

As Bill Evolves, Mortgage Debt Is Snowballing

When Congress started fashioning a sweeping rescue package for struggling homeowners earlier this year, 2.6 million loans were in trouble.

Public service work can wipe out student loans

A new law will make it possible for student debt to be forgiven for people who choose public service jobs.

Can Guyton pay back $13.35M GEFA loan?

Believing in “if you build it, they will come” may have worked in the movie “Field of Dreams

UBS E-Mails Show Conflicts With Auction-Rate Clients (Update2)

UBS AG was attempting to liquidate an $11 billion ``albatross'' of auction-rate bonds by selling the debt to individual investors

Renasant Reports Fiscal 2008 Financial Results and Sale of Trading Business

Renasant Financial Partners Ltd. ("Renasant" or the "Corporation")(TSX:REN) today reported audited financial results for the year ended

Virgin Mobile USA to Acquire Helio for Approximately $39 Million in Equity

Virgin Mobile USA, Inc. (NYSE: VM), a leading national provider of wireless communications services, today announced that it has entered into an agreement

Obama donates, asks backers to help Clinton's debt

Barack Obama told Hillary Rodham Clinton's top financial backers Thursday that he personally has donated $2,300

Discover Quarterly Profit Falls on Credit-Card Debts (Update4)

Discover Financial Services, the credit-card company spun off from Morgan Stanley, dropped 8.2 percent

"Clinton for President" Pays It's Debt to Hendersonville

After a much-heralded appearance on Main Street, in front of Henderson County's Historic Courthouse on May 2nd, questions

Fitch Downgrades St. Joseph Health Services of Rhode Island to 'BB'; Outlook to Negative

Fitch Ratings has downgraded Rhode Island Health and Educational Building Corporation's $18.6 million series

Edwardsville prepares for city budget season

With budget season looming on the horizon, the Edwardsville City Council Monday night reviewed

Candidates for BOC chairman spar over JCWSA reservoir debt

Jackson County’s water woes — and the ability to pay debt tied to water service

Stuck auction-rate debt buyers grasp for answers

For investors trapped in auction-rate securities, finding out what they actually own has been a vexing challenge.

S&P affirms STMicro ratings, takes off CreditWatch

S&P affirms ratings it holds for STMicroelectronics, removes company from CreditWatch

CenturyTel Makes A Dividend Splash, Merck A Div Candidate

CenturyTel (CTL) has shown Eastman Kodak (EK) that, in the bidding for attention, the real drama attaches to the big numbers.

UC trustees praise financial recovery, reward Zimpher

The University of Cincinnati, in its 2008 fiscal year, erased 15 percent of a $165 million "structural deficit," doubled its cash reserves

Pioneering support group for domestic violence victims faces crisis of its own

The nonprofit Brockton Family and Community Resources Inc. opened the state’s first “visitation center”

Hall Helps National Guard and Reservists

U.S. Rep. John Hall (D-NY19) helped the House yesterday pass legislation that would allow Reservists and National Guard Members

Republic Agrees to Buy Allied Waste for $6.1 Billion (Update4)

Republic Services Inc. agreed to buy larger rival Allied Waste Industries Inc. for $6.1 billion to become North America's second-largest trash hauler

S&P cuts junk ratings on Tronox 1 notch

S&P lowers non-investment grade ratings on Tronox 1 notch to reflect market challenges

Ticketmaster spin-off to start with $750 million debt

A newly independent Ticketmaster will likely take on about $750 million in debt and have $450 million in cash as it is spun off from parent IAC/InterActiveCorp

Prime Debt Soft Integrates DocuSign to Accelerate the Speed of Business

Debt Settlement Companies Benefit By Generating Revenue Faster, Locking Out the Competition, Increasing Client Application Return Rates and Reducing Costs.

Victims' agency is rescuing itself

A bankruptcy court judge will rule, perhaps as early as Wednesday, on a financial reorganization plan submitted by a family resources agency

Financial makeover: Drowning in Debt

Disappearance of the Christmas caramel corn was a subtle but meaningful change for Barbara and Tom Lamarand. They hoped no one noticed.

Governor's bond plans add to debt

Since his election in 2003, Gov. Arnold Schwarzenegger has helped persuade voters to let the state borrow more money than it did in the previous 30 years combined.

PFF Bancorp agrees to debt limitations as condition of sale

Officials with financially troubled PFF Bancorp, who announced this week that it had agreed to let an out-of-state bank

S&P on DaimlerChrysler Fina

Standard & Poor's Ratings Services today said it is placing its 'B' long-term counterparty credit rating and 'BB-' senior secured debt rating

S&P Lowers MediaNews Group Debt Rating Deeper Into Junk Territory

Standard & Poor's Ratings Services has lowered its corporate credit rating on MediaNews Group Inc. two notches to 'CCC,'

City of Jacksboro’s GO debt rating gets a boost

Standard & Poor’s Ratings Services raised its underlying rating (SPUR) on Jacksboro’s existing general obligation debt to BBB+ from BBB-

Get Blessed with the Debt Management Services

What if a person gets surrounded by several debts? Though there are lots of other options available, he or she should opt for expert debt management advice

TEXT-S&P on Express Energy Services Operating

Standard & Poor's Ratings Services today assigned its 'B' corporate credit rating to Express Energy Services Operating, LP (Express). The outlook is stable.

Report: Credit card debt and loan delinquencies down in Q1

New credit card data released Thursday by TransUnion.com shows the first quarter of 2008 marked the first dip in credit card debt and loan delinquencies since the beginning of 2007.

NewMarket Technology, Inc. Releases CEO Shareholder Letter Discussing Managed Services

NewMarket Technology, Inc. (OTCBB: NMKT) today released a letter to shareholders from Philip Verges, the Company CEO. The letter is included in its entirety below:

David Walker: Debt could 'sink our ship'

Growing government expenditures and increasing debt have put the U.S. on the brink of an economic crisis, said David Walker

Economy: Current Account Deficit Surges in First Quarter

Yesterday, the Commerce Department reported the first quarter current account deficit was $176.4 billion, up from $167.2 billion

New Debt Service for People in California

A three year old debt information website for people living in California is now offering a debt relief quote matching service on their website.

Fitch Rates Fresno, California's $155.1MM Sewer System Revs 'A+'

Fitch Ratings assigns an 'A+' rating to approximately $155.1 million City of Fresno, California's (the city) sewer system revenue bonds

Roundup: Coventry, Gemini, Liquidity Services

*Coventry Health Care reduced its second-quarter and full-year earnings forecasts after costs came in higher than expected in April and May.

Sector Snap: Health care services downgraded

Morgan Stanley says higher costs and individual debt adds risk to health stocks in recession

Dish shares plunge on AT&T debt repurchase

Dish shares fall sharply after AT&T forces $500 million debt repurchase

Goldman Weathers Brokerage Storm

While some rivals struggle, Wall Street firm Goldman Sachs Group Inc. once again proved its sea legs, posting an 11% profit drop in one of the toughest quarters for the brokerage business.

Official details components of tax increase

Northampton County officials last week detailed the whirlwind of budget problems that led to a proposed 13-cent real-estate tax increase for residents.

Where biz is booming: Debt workout, repos

The housing market's collapse and credit crisis has led to a debt business boom.

Warsaw Schools Hears Nursing Services Report

With a total student enrollment of 6,935 students in Warsaw Community Schools, there were a total of 51,079 health room visits

Vonage extends debt financing commitment deadline

Internet-based phone company Vonage Holdings Corp (VG.N: Quote, Profile, Research) has extended the deadline to seal a $215 million

Behind McClatchy Layoffs -- A Mountain Of Debt

The 1,400 McClatchy Co. employees targeted for layoffs can blame their job loss on the faltering newspaper economy in general

Red Cross Disaster Fund Is Depleted

The American Red Cross said yesterday that it has depleted its national disaster relief fund and is taking out loans

ATSI Reports Record Revenues

37% Revenue Increase and 6th Consecutive Quarter of Net Earnings

When, why and how small businesses turn to collection agencies

When the economy takes a turn for the worse, bills take longer to get paid. Established companies have been here before

Fitch Upgrades L-3 Communications' Sr. Subordinated Debt to 'BB+'; Affirms IDR

Fitch Ratings has upgraded L-3 Communications Corporation's (L-3) senior subordinated debt and L-3 Communications Holdings, Inc.

Agencies need all resources available

I am shocked by the announced $8.4 million cut in funds for mental health services for children in the state of Georgia

Deja vu: Summer credit worries on Wall Street

The summer heat has hit Wall Street, and everyone's nervous about investment banks' financial results. Sound familiar?

Bankruptcy preceded marriage to sheriff

Two days before Morgan County Sheriff Greg Bartlett and his new wife, Chastity, married, she filed Chapter 7 bankruptcy in federal court.

How Much Inflation Will We Have to Endure?

The battle is over. Structural inflation has won. The question now becomes how much inflation will we experience before this trend exhausts itself?

Performance Transportation Services to close its doors

Carhauler shutting down after failing to settle strike by Teamsters union over wage cuts

Republic Services Seeks to Buy Rival Allied Waste

Republic Services Inc. said it is in talks to acquire Allied Waste Industries Inc. for about $6.6 billion in stock.

Fitch Rates Concord, NC $27.4MM Utilities Systems Revs, Series 2008 'AA-'

Fitch Ratings assigns Concord, NC's (the city) $27.4 million utilities systems revenue bonds series 2008 a rating of 'AA-'.

Fitch Rates University of Colorado Hospital Auth 2008A & B Bonds 'BBB+' Underlying;Outlook Positive

Fitch Ratings has assigned a 'BBB+' underlying ratings to the University of Colorado Hospital Authority's (UCH) expected issuance of $19.0 million series

Farmland Reaps Bonanza for TIAA as Commodities Rise (Update1)

TIAA-CREF, the largest U.S. manager of retirement funds, bought $340 million of farmland in seven states in December.

Omni Financial Services, Inc. Elects to Defer Interest Payments on Subordinated Debt

Omni Financial Services, Inc. (NASDAQ: OFSI) (the “Company”), the bank holding company for Omni National Bank

Service Center to change hands

The Decatur-Seminole Service Center, which some feared would close after it faced mounting debt, will continue operating

Panel urges tax hikes

The County Budget Committee is urging increases to property and sales tax rates and the wheel tax to generate more revenue to cover county needs in the 2009 fiscal year.

InBev's Budding Debt, Lehman and HBOS, AIG's CEO Fight: Timshel

InBev NV's bid for Anheuser-Busch Cos. raises so many issues that it's easy to lose focus on the most important one:

Moody's Set to Change Municipal Bond Rating Scale (Update3)

Moody's Investors Service, under pressure from regulators and state finance officials, will change the way it rates municipal bonds

CORRECTION - CX2 Technologies, Inc. Restructures Debt and Redeems Certain Outstanding Shares

CX2 Technologies, Inc. (CX2) (OTCBB: CXTO) is the nation's sole designer and manufacturer of wireless fixed, mobile and remote with embedded GPS

18 state AGs settle with SC tax debt firm

A Charleston firm that claimed to offer people help settling their tax debt has agreed to change its advertising and pay $1.5 million in restitution

Senior food service closes

A charity serving seniors in San Joaquin County for four decades is closing its doors.

Thousands Join Members of Congress, Religious Leaders

Today Jubilee USA Network delivered a petition signed by nearly 3,000 Americans to the US Treasury Department urging US Treasury Secretary Henry Paulson

Commissioners approve Veterans Cemetery funding

The Yellowstone County Commissioners approved a sale of $3 million in general obligation bonds to D. A. Davidson, last week.

CompuCredit Faces $200M Lawsuit

CompuCredit, along with two partner banks, is facing a $200 million lawsuit from two government agencies

Colorado Amends Collection Regulations

The new law imposes an additional state special text requirement, retains the Colorado resident office requirement and requires a licensed agency to maintain a toll-free telephone number.

Need a Kidney? There's a Credit Card for That

Increasingly, Americans' health problems are becoming tangled up with their credit problems.

Rapid Link Improves Working Capital Position by Over $1,000,000

Rapid Link, Incorporated (OTCBB: RPID), a leading provider of WiMax and Communication Services, announced today the final settlement

A-H takes first look at 2008-09 budget

Anoka-Hennepin School District Superintendent Dr. Roger Giroux and school board members June 9 took a preliminary look at District 11’s 2008-2009 budget.

Slicing, dicing town’s budget

Substantial measures are being taken to trim Montclair/’s introductory budget, which reveals a 6.32 percent hike from last year/’s final financial plan.

DeKalb, Sandy Springs to show higher taxes

As Dunwoody contemplates a new city with a tax-limited charter, DeKalb County and neighboring Sandy Springs are close to adopting tax rates

SEC `Scarlet Letter' Drive Hurts Asset-Backed Market

Regulators' plans to add a letter to credit ratings of asset-backed debt may constrict the $4.6 trillion market and choke off consumer credit

Fortis bets on corporate debt, emerging markets

The asset arm of Belgian-Dutch financial services group Fortis (FOR.BR: Quote, Profile, Research) is going overweight in corporate

So Ike Says: Economy wobbles, debt rises, political promises doubtful

Another Memorial Day has passed and I'm thankful that I was able to actively participate in the service instead of being the one for whom the services were held.

Obama gets economic tour underway

The general election presidential campaign debate over pocketbook issues got underway in earnest today, as Sen. Barack Obama's economic policy

Rapid Link, Inc. Retains DME Capital to Provide Global Investor Relations Program

Rapid Link, Inc. (OTCBB: RPID) announced today that it has retained DME Capital, a New York-based Investor Relations firm

City & County of Honolulu Debt Limit Needs to Be Evaluated

As we all know, inflation has certainly had an impact on our shopping baskets as goods and services cost more in absolute dollars than they did 20 or 30 years ago.

Vedanta Resources outlook raised to positive on improving trends - S&P

Standard & Poor's Ratings Services said it raised its outlook on Vedanta Resources Plc. to positive from negative reflecting greater clarity

Park Authority says expenses, revenues are in good shape

With just a quarter of the fiscal year to go, the Prince William Park Authority says revenues and expenses are looking good

TransUnion settlement makes services available to consumers

Credit bureau TransUnion's recent settlement of a class-action suit offers several options for consumers, two of which include free credit-monitoring services

City Stages looking to break even this year, eliminate debt in 2009

City Stages doesn't expect to eliminate its $150,000 debt with this year's festival, but organizers are optimistic that the event will break even on its $2.85 million budget.

Tackle debt first; don't waste stocks on mortgage

I'm a 54-year-old single mother. I own my home, currently worth about $500,000. My yearly income is approximately $65,000.

3 Families, 4 Months, $26,000 Paid

Like the service men and women they are, the participants in my yearlong money-management challenge have hunkered down and are attacking their debts with mighty force.

Event center a boon to Prescott Valley economy

Tim's Toyota Center has been a major boon to the town's economy since it opened for minor-league hockey games in late 2006

Rural Communities Face Loss Of Essential Air Service

Airlines Say Even With Gov't Help, They Just Can't Afford It

Suncor, Ply Gem Lead $15.5 Billion of U.S. Bond Sales (Update2)

Suncor Energy Inc., the world's second-largest tar-sands producer, and window maker Ply Gem Industries Inc. led $15.5 billion of corporate bond offerings

Energy stocks a haven from jobless swoon

Oil services and natural gas shares rose Friday along with the price of crude oil, and the sector was a haven to investors shying away from big losses in the broad equities market tied to a weak monthly U.S. jobs report.

A.M. Best Affirms Ratings of Manulife Financial Corporation and Its Subsidiaries

A.M. Best Co. has affirmed the financial strength rating (FSR: 12.08, +0.09, +0.75%) of A++ (Superior) and issuer credit ratings

FIS Announces Offering of $400 million of Senior Notes of its Subsidiary, Lender Processing Services

Fidelity National Information Services, Inc. (NYSE: FIS: 39.02, -1.09, -2.71%) today announced the offering by certain selling securityholders

GMAC ratings unaffected by launch of refinance plan - S&P

Standard & Poor's Ratings Services said its 'B' rating on GMAC Llc will remain unaffected by the company' implementation of its refinancing plan.

Debt support service Moneyfreedom has reported an increased number of cases of single parents

Debt support service Moneyfreedom has reported an increased number of cases of single parents are getting themselves into debt by vying for their children's affections with their former partners

Air Transport Services Group, Inc. Reiterates Strong Liquidity Position

Air Transport Services Group, Inc. (NASDAQ: ATSG), a diversified air cargo services company and parent of three cargo airlines

Lexicon United Subsidiary Acquires Debt Portfolio

Lexicon United Inc. (OTCBB: LXUN), a financial services holding company specializing in collections and credit recovery

Out of the hole of college debt

GRADUATION season. All around the country, parents are taking photos of grinning college graduates holding their hard-earned diplomas.

Bonds fall as stocks climb on services, jobs data

U.S. Treasury debt prices eased on Wednesday as stronger-than-expected data on the U.S. services sector and employment boosted stocks

S&P release on Smith International

Standard & Poor's Ratings Services said today that it affirmed its 'BBB+' ratings on oilfield service provider Smith International Inc.

Fitch Rates Raleigh, North Carolina Combined Enterprise System Revs Series 2008A&B 'AAA/F1+'

Fitch Ratings assigns an 'AAA/F1+' rating to the city of Raleigh, North Carolina's (the city) approximately $90 million combined enterprise system revenue bonds

Fitch Upgrades Clean Water Services (Oregon) Sr. Lien Swr Revs to 'AA-'

In the course of routine surveillance, Fitch Ratings upgrades the underlying ratings on Clean Water Services Washington County, Oregon's (Clean Water) bonds as follows

Resource America, Inc. Closes on New Debt Facilities for Its Managed Equipment Leasing Funds

Resource America, Inc. (NASDAQ: REXI) announced today that its subsidiary, LEAF Financial Corporation ("LEAF"), has closed on a new debt facility for LEAF Equipment Leasing

S&P ups rating on Reliant Energy to "BB-" from "B"

Standard & Poor's raises rating on power producer Reliant Energy to "BB-" from "B"

Fitch Lwrs Sacramento Cnty Sanit. Dist. Fin Auth (CA) Sr Revs to 'AA-'; Rates $250MM Sub. Revs 'A+'

Fitch assigns an underlying rating of 'A+' to the Sacramento County Sanitation Districts Financing Authority, CA (the authority) $250 million subordinate

Fitch Rts $230MM NY State HFA State PIT Revs 2008 Ser A & B 'AA-'; Confirms 2005 Ser C 'AA-/F1+'

Fitch Ratings assigns an 'AA-' rating to the $110,575,000 2008 series A, and the $39,425,000 2008 series B and confirms its 'AA-/F1+'

New Funds Emerge to Buy Debt at Depressed Prices

Investment banks, hedge funds and private-equity firms are taking advantage of depressed prices in the loan markets to launch specialist debt funds

SourceGas $325 mln notes 'Baa3' debt rating on review for downgrade - Moody's

Moody's Investors Service said it placed the 'Baa3' rating on SourceGas Llc.'s $325 million senior unsecured notes due 2017 on review for possible downgrade

Exchange Building paying for itself, officials say

About this time last year, City of Greenville officials expressed their concerns over the future of the Paul Mathews Exchange Building.

Dallas hopes to duplicate other cities' success with convention center hotels

If Dallas residents are nervous that the city is poised for a $500 million to $600 million jump into the convention center hotel business

Debt, credit counselors face scrutiny

Scenario: You have more than $24,000 in credit card debt, and it's become impossible to meet the monthly payments.