Fitch Rates Los Angeles Department of Water and Power, CA’s Water Revs ‘AA’; Outlook Stable
Fitch Ratings assigns an 'AA' rating to the following Los Angeles Department of Water and Power, CA (LADWP) water system revenue bonds: --Approximately $325 million water system revenue refunding bonds, series 2012A. The bonds are expected to price on May 23, 2012. Proceeds will be used to refund outstanding debt for savings and to pay cost of issuance. The bonds do not have a debt service reserve fund. In addition, Fitch affirms its outstanding 'AA' rating on the following bonds: --$3...continuedNo related posts.
Fitch Upgrades Northern California Power Agency, CA’s Various Project Revenue Bonds
Fitch Ratings has upgraded the rating on Northern California Power Agency's, CA (NCPA) various project revenue bonds as follows: --$78.33 million Lodi Energy Center revenue bonds, Issue One series 2010A to 'A' from 'A-'; --$176.62 million Lodi Energy Center revenue bonds, Issue One series 2010B to 'A' from 'A-'; --$449.5 million Hydroelectric Project Number One revenue bonds to 'A+' from 'A'; --$35.6 million Geothermal Project revenue bonds to 'A+' from 'A'. The Rating Outlook is r...continuedNo related posts.
Fitch: Mexico’s Electoral Cycle Neutral for Creditworthiness in the Near Term
In a special report published today, Fitch Ratings says that the presidential and congressional elections on July 1, 2012 should be neutral for Mexico's creditworthiness in the near term. The strengthening of political institutions over the past decade should allow for a smooth transition of power, while broad policy continuity following the elections is expected to anchor macroeconomic stability. Recent polls are giving a wide lead to Enrique Pena Nieto of the Partido Revolucionario Institucional...continuedNo related posts.
Newland International, Developer of Trump Ocean Club, Provides Disclosures on May 18, 2012
Newland International Properties Corp., Developer of the Trump Ocean Club, to Provide Additional Disclosure on May 18, 2012 Regarding Recent Developments for Investors of Newland's 9.50% Senior Secured Notes Due 2014 PANAMA CITY, Panama, May 15, 2012 (GLOBE NEWSWIRE) -- As part of an effort to provide additional disclosure to investors regarding recent developments, on Friday, May 18, 2012, Newland will release an information disclosure package which will include updates on collections, closings, sa...continuedNo related posts.
Matador Resources Company Reports 2012 First Quarter Financial Results and Provides Operational Update
Matador Resources Company (NYSE:MTDR) ("Matador" or the "Company"), an independent energy company currently focused on the oil and liquids rich portion of the Eagle Ford shale play in South Texas, today reported financial and operating results for the three months ended March 31, 2012. Highlights for the quarter ended March 31, 2012 include the following: Record oil production of 200,000 Bbl, which is more oil produced during the first quarter of 2012 than in the full years of 2011 and 2010 comb...continuedMTDR
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Fitch Takes Various Rating Actions on Enhanced Municipal Bonds and TOBs
Fitch Ratings has taken various conforming rating actions on enhanced municipal bonds and tender option bonds (TOBs) corresponding to actions taken on their associated enhancement providers or underlying bonds. Long-term ratings on enhanced municipal bonds may be higher than those of their enhancement providers as discussed in Fitch's 'Dual-Party Pay Criteria for Long-Term Ratings on LOC-Supported U.S. Public Finance Bonds', dated March 9, 2012. Short-term ratings on enhanced municipal bonds m...continuedNo related posts.
Fitch Affirms Ratings on NV Energy and Subs; Outlook Revised to Positive
Fitch Ratings has affirmed the 'BB' long-term Issuer Default Rating (IDR) on NV Energy, Inc. (NVE) and the 'BB+' long-term IDRs on NVE's utility operating subsidiaries Nevada Power Company (NPC) and Sierra Pacific Power Company (SPPC). A full list of rating actions is shown at the end of this release. In addition, Fitch has revised the Rating Outlook on all three entities to Positive from Stable. These rating actions affect approximately $4.7 billion of debt. A ratings upgrade on all three...continuedNo related posts.
Fitch Affirms Senior and Subordinate Notes of Access Group, Inc. 2006-1 Indenture of Trust
Fitch Ratings has affirmed the senior and subordinate student loan notes issued by Access Group, Inc. 2006-1 Indenture of Trust at 'AAAsf' and 'AAsf', respectively. The Rating Outlook for the senior notes, which is tied to the sovereign rating of the U.S. government, remains Negative. The Rating Outlook for the subordinate notes remains Stable. Fitch affirms the ratings on the notes based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement...continuedNo related posts.
Certain DWS Closed-End Funds Announce End to Exclusive Negotiations on the Sale of Investment Advisor
DWS High Income Trust (NYSE: KHI), DWS Municipal Income Trust (NYSE: KTF), DWS Multi-Market Income Trust (NYSE: KMM), DWS Strategic Municipal Income Trust (NYSE: KSM), DWS Strategic Income Trust (NYSE: KST), DWS High Income Opportunities Fund, Inc. (NYSE: DHG) and DWS Global High Income Fund, Inc. (NYSE: LBF) announced that on May 11, 2012, Deutsche Bank AG (“Deutsche Bank”), the parent company of Deutsche Investment Management Americas Inc., each fund’s investment advisor (the ...continuedDHG KHI KMM KSM KST KTF LBF dws scudder Financial
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SouthGobi Resources Announces First Quarter 2012 Financial and Operating Results
HONG KONG, CHINA--(Marketwire - May 14, 2012) - SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878), (the "Company" or "SouthGobi") today announced its financial and operating results for the three months ended March 31, 2012. All figures are in U.S. dollars unless otherwise stated. HIGHLIGHTS The Company's highlights for the quarter ended March 31, 2012 and subsequent weeks are as follows: Record first quarter coal sales of 0.84 million tonnes (increase of 84% from the first quarter of 2011...continuedSGQ:CA
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Exall Energy Corporation announces results for the three months ended March 31, 2012
CALGARY, May 14, 2012 /CNW Telbec/ - Exall Energy Corporation ("Exall" or the "Company") (TSX: EE EE.DB) is pleased to announce its International Financial Reporting Standards ("IFRS") compliant financial and operating results for the three months ended March 31, 2012. Exall's public filings can all be found at www.exall.com or www.sedar.com. Highlights: A first quarter 2012 production average of 1,118 boe per day a 7 percent increase over the same quarter in 2011 (first quarter 2012...continuedEE:CA Energy
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InterOil Announces 2012 First Quarter Financial and Operating Results
PORT MORESBY, Papua New Guinea and HOUSTON, May 14, 2012 /CNW/ - InterOil Corporation (NYSE: IOC) (POMSoX: IOC) today announced financial and operating results for the first quarter ended March 31, 2012. First Quarter 2012 Highlights and Recent Developments As of April 6, 2012, InterOil drilled the Triceratops-2 well in Papua New Guinea through the entire carbonate interval to a total depth of 7,336 feet (2,236 meters). The acquisition of wireline logs was completed on April 14, 2012 an...continuedIOC interoil Gas Investors
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InterOil Announces 2012 First Quarter Financial and Operating Results
PORT MORESBY, Papua New Guinea and HOUSTON, May 14, 2012 /PRNewswire/ -- InterOil Corporation (NYSE: IOC) (POMSoX: IOC) today announced financial and operating results for the first quarter ended March 31, 2012. First Quarter 2012 Highlights and Recent Developments As of April 6, 2012, InterOil drilled the Triceratops-2 well in Papua New Guinea through the entire carbonate interval to a total depth of 7,336 feet (2,236 meters). The acquisition of wireline logs was completed...continuedIOC Gas Investors oil
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Fitch Affirms Nelnet Student Loan Trust’s Series 2008-4 Senior and Subordinate Notes
Fitch Ratings affirms Nelent Student Loan Trust 2008-4 senior and subordinate student loan notes at 'AAAsf' and 'A+sf'. The Rating Outlook for the senior notes, which is tied to the sovereign rating of the U.S. government, remains Negative. The Outlook for subordinate note has been revised to Positive. The ratings for the senior notes were affirmed based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement for the senior notes consists of o...continuedNo related posts.
Fitch Upgrades 1 and Affirms 6 Classes From Putnam Structured Product CDO 2001-1, Ltd.
Fitch Ratings has upgraded one class, affirmed six classes, and revised the Outlooks on three classes of notes issued by Putnam Structured Product CDO 2001-1, Ltd. (Putnam 2001-1). The rating actions are as follows: --$15,693,123 class A-1MM-a notes affirmed at 'A+sf', Outlook revised to Positive from Stable; --$14,011,717 class A-1MM-b notes affirmed at 'A+sf', Outlook revised to Positive from Stable; --$29,424,606 class A-1SS notes affirmed at 'A+sf', Outlook revised to Positive from Sta...continuedNo related posts.
Fitch Affirms AES El Salvador Trust’s IDR at ‘BB’; CAESS and EEO at ‘A+(slv)’; Outlook Stable
Fitch Ratings has affirmed AES El Salvador Trust's foreign and local currency Issuer Default Rating (IDRs) at 'BB'. The rating action applies to USD300 million of political risk protected (PRP) bond issuance due Feb. 1, 2016. Concurrently, Fitch has affirmed Compania de Alumbrado Electrico de San Salvador (CAESS) and Empresa Electrica de Oriente (EEO) at 'A+(slv)'. The Rating Outlook for all ratings is Stable. The full ratings list is provided at the end of this release. AES El Salvador's rati...continuedNo related posts.
Fitch Affirms Nelnet Student Loan Trust 2004-4 Senior and Subordinate Notes
Fitch Ratings affirms the senior and subordinate student loan notes issued by Nelnet Student Loan Trust 2004-4 at 'AAAsf' and 'AA-sf'. The Rating Outlook for the senior notes, which is tied to the sovereign rating of the U.S. government, remains Negative. The Rating Outlook for the subordinate notes remains Stable. Fitch affirms the ratings on the notes based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement for the senior and subordinat...continuedNo related posts.
Fitch Downgrades Salomon Brother Mortgage Securities VII, Inc., Series 2000-C2
Fitch Ratings downgrades three classes of Salomon Brothers Mortgage Securities VII, Inc., commercial mortgage pass through certificates, series 2000-C2. A detailed list of rating actions follows at the end of this press release. The downgrades are due to the expectation of losses on specially serviced loans in addition to interest shortfalls being incurred or imminent on these classes. The Negative Outlooks reflect the uncertainty on timing for resolution of REO loans that are in special servicing...continuedNo related posts.
Fitch Affirms College Loan Trust-I Amended and Restated 2003 Indenture of Trust (2002) Bonds
Fitch Ratings affirms the senior student loan bonds at 'AAAsf' and subordinate bonds at 'BBBsf' issued by College Loan Trust-I Amended and Restated 2003 Indenture of Trust (2002). The Rating Outlook on the senior notes, which is tied to the sovereign rating of the U.S. government, remains Negative, while the Rating Outlook on the subordinate note remains Stable. Fitch used its 'Global Structured Finance Rating Criteria' and as well as 'Rating U.S. Federal Family Education Loan Program Student Loan...continuedNo related posts.
Fitch Affirms Senior and Subordinate Notes of Nelnet Student Loan Trust, Series 2007-2
Fitch Ratings affirms both senior and subordinate student loan notes at 'AAAsf' and 'BBsf' issued by Nelnet Student Loan Trust series 2007-2. The Rating Outlook on the senior notes, which is tied to the sovereign rating of the U.S. government, remains Negative, while the Rating Outlook on the subordinate note remains Stable. Fitch used its 'Global Structured Finance Rating Criteria', as well as 'Rating U.S. Federal Family Education Loan Program Student Loan ABS' to review the ratings. The ratings ...continuedNo related posts.
Fitch: Latin American Electricity Sector – Market Dynamics and Risks
Credit trends for Latin American power companies will remain stable for the remainder of 2012, given the region's strong demand growth and generally supportive regulatory frameworks, according to Fitch Ratings. Strong economic growth in most Latin American countries over the past few years has resulted in increasing electricity demand, triggering the need for additional generation capacity and energy infrastructure. Some countries have responded to electricity supply needs with stable and balanced...continuedNo related posts.
Fitch Affirms Senior and Subordinate Notes of SLM Student Loan Trust 2007-8
Fitch Ratings has affirmed the senior and subordinate student loan notes issued by SLM Student Loan Trust 2007-8 at 'AAAsf' and 'BBsf' respectively. The Rating Outlook for the senior notes, which is tied to the sovereign rating of the U.S. government, remains Negative. The Rating Outlook for the subordinate notes remains Stable. Fitch affirms the ratings on the notes based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement for the senior ...continuedNo related posts.
Fitch Upgrades Four and Affirms One Class of Solar Investment Grade CBO II, Ltd.
Fitch Ratings has upgraded four and affirmed one class of notes issued by Solar Investment Grade CBO II, Ltd./Corp. (Solar II) as follows: --$16,916,163 class II-A notes upgraded to 'BBBsf' from 'Bsf'; Outlook Stable; --$11,574,217 class II-B notes upgraded to 'BBBsf' from 'Bsf'; Outlook Stable; --$7,000,000 class III-A notes upgraded to 'CCsf/RE 80%' from 'Csf/RE 20%'; --$20,000,000 class III-B notes upgraded to 'CCsf/RE 80%' from 'Csf/RE 20%'; --$14,189,691 preferred shares affir...continuedNo related posts.
Vulture Funds Ordered to Pay Vitro Legal Fees and Expenses as a Result of the Dismissal of the Involuntary Bankruptcy Lawsuits Filed Against Vitro and its Subsidiaries in Mexico
SAN PEDRO GARZA GARCIA, Mexico, May 11, 2012 /PRNewswire/ -- Vitro S.A.B. de C.V. (BMV: VITROA) -- Vitro S.A.B. de C.V. ("Vitro" or "The Company") announced today that, the Federal Unitary Second Court for the Fourth Circuit in Monterrey, Nuevo Leon, as Appeals Court, has affirmed a lower Federal court's dismissal of the eighteen involuntary bankruptcy lawsuits filed against Vitro and seventeen of its subsidiaries by dissident bondholders in December 2010. Moreover, the Appeals Court ru...continuedNo related posts.
Fitch Releases Sixth ‘Navigating the Drug Channel’ Report Focusing on Retail Drugstores
Fitch Ratings today published 'Navigating the Drug Channel - Retail Pharmacies,' the sixth of seven reports analyzing the dynamics of the U.S. drug channel. This newest report focuses on the retail pharmacies' role in the U.S. drug channel and Fitch's take on certain issues faced by the industry. Retail pharmacies are often the final stop along the drug channel before a pharmaceutical reaches the consumer. The industry is segmented into four general categories: chain drugstores, mass merchandisers...continuedNo related posts.