- Fitch: Valley Health System (Ca) 'BB-' Bonds Remain on Watch Evolving
The approximately $36.3 million Valley Health System (VHS) hospital revenue bonds (refunding and improvements project), 1996 series A, and $48.4 million certificates of participation (refunding project), series 1993 remain on Rating Watch Evolving by Fitch. Fitch currently rates the bonds 'BB-'. - Keep Your Finances in the Black This Thanksgiving Weekend:MMI Provides Some Helpful Tips on Keeping
Thanksgiving marks the beginning of the holiday season. Many people kick-off Thanksgiving weekend by serving a delicious Thanksgiving dinner and end it by shopping. In fact, the day after Thanksgiving is commonly known as “Black Friday,” meaning the day retailers go from being unprofitable (in the “red”) to profitable (in the “black”). According to the ShopperTrak National Retail Sales Estimate (NRSE), last year’s Black Friday sales totaled $8 billion. - OwnerGUARD and AmTrust Enter MGA Agreement for Financial GAP Programs
OwnerGUARD Corporation announced that it has entered into a Managing General Agent (MGA) Agreement with Wesco Insurance Company, a wholly-owned subsidiary of AmTrust Financial Services. Under the terms of the MGA Agreement, Wesco Insurance Company will provide underwriting for OwnerGUARD's Financial GAP Programs. OwnerGUARD, a leader and innovator in Financial GAP and other automotive after-market programs, will market and administer its Financial GAP Programs nationwide. - Allegiance Bank of North America Reports Operating Results for the Three and Nine Month
Allegiance Bank of North America (OTCBB:ABPA) (the “Bank”), reported operating results for the three and nine month periods ended September 30, 2006.
C. Andrew Cook, President and Chief Executive Officer of the Bank, noted the achievements of the Bank in 2006 to date:
* In June 2006, the Bank was named the “Small Business of the Year” by the Main Line Chamber of Commerce. - Fitch Revises Reliant Energy's Rating Outlook to Stable
Fitch Ratings has revised the Rating Outlook assigned to Reliant Energy, Inc.'s (RRI) outstanding debt obligations to Stable from Negative. Fitch currently rates RRI as follows:
--Issuer Default Rating (IDR) 'B';
--Senior secured debt 'BB-/RR2'; - Fitch Rates Stoneheath Re IDR 'A+', Perpetual Preferred Securities 'A-'
Fitch Ratings has assigned an 'A+' Issuer Default Rating (IDR) to Stoneheath Re and an 'A-' underlying rating to Stoneheath Re's issuance of non-cumulative perpetual preferred securities. The Rating Outlook is Stable. - Independent Financial Marketing Group Selects Pershing LLC to Enhance Clearing and Trading Services
Independent Financial Marketing Group, Inc. (Independent Financial) today announced a clearing and trading services agreement with Pershing LLC, a subsidiary of The Bank of New York Company, Inc. Under this agreement, Pershing will provide Independent Financial with its comprehensive clearing, trading and financial services outsourcing platform. - JLG Industries, Inc. Announces Pricing for Debt Tender Offers with Respect to Its Outstanding
JLG Industries, Inc. (NYSE:JLG) today set the pricing for its previously announced cash tender offers and consent solicitations in respect of its outstanding 8 1/4% Senior Notes due 2008 (the “2008 Notes”) and its 8 3/8% Senior Subordinated Notes due 2012 (the “2012 Notes,” and, together with the 2008 Notes, the “Notes”). The terms of the tender offers and consent solicitations for the Notes are detailed in JLG’s Offer to Purchase and Consent Solicitation Statement dated November 6, 2006. - Private Equity Fund Investment Requires More Due Diligence Now than Ever Before
IncreMental Advantage will run the first conference ever on Private Equity Funds Due Diligence in New York City on December 7, 2006. This conference is designed to help senior managers from pension funds; insurance companies; foundations; funds-of-funds; and, family offices improve their returns by ferreting out the most promising private equity funds in which to invest. - William Blair & Company Initiates Coverage of SAIC, Inc. With Market Perform Rating
William Blair & Company initiated research coverage of SAIC, Inc. (NYSE: SAI) ($19.17), the largest company dedicated to federal services, with a Market Perform rating and company profile of Core Growth. - Fitch Rates Connecticut's $400MM GOs 'AA'
Fitch has assigned the following ratings to the general obligation (GO) bonds listed below for the State of Connecticut (the state):
--$372 million GO bonds, 2006 series F 'AA';
--$28 million taxable GO bonds, 2006 series A 'AA'. - Fitch Rates Memphis, TN $96M GOs 'A+'; Outlook to Stable
Fitch Ratings has assigned an 'A+' rating to the city of Memphis, Tennessee's approximately $96,065,000 general improvement refunding bonds, series 2006C. The bonds are scheduled to sell through negotiation with Morgan Keegan & Co., Inc. on Dec. 5. - H&R Block to Release Second Quarter Results Nov. 30
H&R Block Inc. (NYSE: HRB) will report fiscal 2007 second quarter financial results on Thursday, Nov. 30, 2006 after close of market, 4 p.m. EST. At that time, a copy of the press release will be available from the company's Web site at www.hrblock.com. - Fitch Issues Presale Report on Barramundi CDO I LTD
Fitch Ratings has issued a presale report on Barramundi CDO I LTD.
The presale report is available to all investors on Fitch's corporate site, www.derivativefitch.com. - Technical Communications Corporation Reports Results for the Fiscal Fourth Quarter
Technical Communications Corporation (OTC BB: TCCO.OB) today announced its results for the fiscal quarter and year ended September 30, 2006. For the quarter ended September 30, 2006, the Company reported net income of $54,000, or $0.04 per share, on revenue of $845,000, as compared to net income of $349,000, or $0.26 per share, on revenue of $1,228,000 for the same period in fiscal 2005. - SunGard Acquires Integrated Business Systems, Inc.
SunGard (http://www.sungard.com) today announced that it has acquired Integrated Business Systems, Inc. (IBSI), a Melville, NY-based provider of software solutions and related services to hedge funds. IBSI’s primary product offering, Visual Portfolio Manager (VPM), is a leading portfolio accounting solution used by more than 50 hedge fund managers and processing more than $135 billion in assets. - Estée Lauder Companies Presentation at JPMorgan Consumer and Retail Holiday Conference
The Estée Lauder Companies Inc. (NYSE: EL) William P. Lauder, President and Chief Executive Officer, and Richard W. Kunes, Executive Vice President and Chief Financial Officer, will speak at the JPMorgan Consumer and Retail Holiday Conference on Tuesday, November 28, 2006. - New England Bancshares, Inc. Announces Merger Agreement with First Valley Bancorp, Inc.
New England Bancshares, Inc. (Nasdaq GM: NEBS) announced today that it has signed a definitive merger agreement with First Valley Bancorp, Inc. (OTCBB: FVLY), Bristol, Connecticut, under which First Valley Bancorp will combine with New England Bancshares in a transaction valued at approximately $25.9 million. First Valley Bancorp is the holding company for Valley Bank, Bristol Connecticut. - Fitch Upgrades United States Steel Corporation to 'BBB-'; Outlook Stable
The Rating Outlook for U.S. Steel Corporation has been changed to Stable.
The ratings reflect permanent improvements to U. S. Steel's assets and capital structure afforded by robust market conditions. Earnings will continue to be impacted by the cyclical nature of the steel market as well as high natural gas prices. - America First Apartment Investors, Inc. Announces Fourth Quarter Dividend
America First Apartment Investors, Inc. (NASDAQ: APRO), a multifamily real estate investment trust, today announced that its Board of Directors has declared a regular quarterly dividend in the amount of $0.26 per share, to be paid on January 31, 2007 to shareholders of record on December 29, 2006. - Cooper Industries to Participate in CIBC Analyst Conference
Cooper Industries, Ltd. (NYSE:CBE) today announced it will participate in the CIBC 2nd Annual Mid & Small Cap “Best Ideas” Conference held in New York City on Tuesday, November 28.
The presentation and comments by Cooper’s Senior Vice President and Chief Financial Officer Terry Klebe and Cooper’s Senior Vice President of Corporate Development Tom O’Grady will begin at approximately 3:35 p.m. EST. - iCarbon Reports 68% Increase in Revenue for the Second Quarter
iCarbon Corporation (OTCBB: ICRB) today announced results for the three and six months ended September 30, 2006.
Derek Hirsch, co-chairman of iCarbon, stated, “Our primary focus during this past quarter remained centered on assembling and integrating our business infrastructure on a worldwide basis. - DLJ Merchant Banking Partners Announces Completion of Acquisition of Peach Holdings, Inc.
DLJ Merchant Banking Partners ("DLJMB") today announced that its affiliate Orchard Acquisition Company has completed its acquisition of Peach Holdings, Inc. (AIM: PSF), the parent company of Peachtree Settlement Funding ("Peachtree"), in a cash merger at £3.85 per share. - Fitch Rates Wells Fargo's $799.3MM P-T Ctfs Series 2006-AR19
The 'AAA' rating on the senior certificates reflects the 4.00% subordination provided by the 2.55% class B-1, 0.60% class B-2, 0.35% class B-3, 0.20% privately offered class B-4, 0.15% privately offered class B-5, and 0.15% privately offered class B-6. The class B-6 is not rated by Fitch. - Fitch Rates Saint Barnabas' $200.0MM Issue 'BBB'; Affirms Outstanding Bonds at 'BBB'; Outlook
Fitch assigns a rating of 'BBB' to the $200.0 New Jersey Health Care Facilities Financing Authority Revenue Bonds, Series 2006A and 2006B issued on behalf of Saint Barnabas Health Care System (SBHCS). Fitch also affirms its 'BBB' rating to the approximately $803 million outstanding bonds issued on behalf of Saint Barnabas listed below. - IXIS Asset Management US Group Acquires Majority Interest in Hansberger Group
IXIS Asset Management US Group announced today that it has acquired a majority interest in Hansberger Group, Inc., the parent company of Hansberger Global Investors (HGI). The firm has held a minority interest in HGI since 2003. With $9 billion in assets under management, HGI manages the Hansberger International Fund, part of the IXIS Advisor Funds line-up. It also manages global separate account strategies on behalf of IXIS Asset Management Advisors Group, the firm’s U.S. distribution arm. - Correction - Fitch Affirms Farmington, New Mexico's Utility System Revs at 'A+'
(This is a correction for a press release that was published November 17, 2006. It updates the amount of outstanding debt in the third paragraph.)
Fitch affirms its 'A+' rating on the City of Farmington, New Mexico's utility system revenue bonds, series 2002A. The Rating Outlook is Stable. The $36.85 million in Series 2002A bonds outstanding represent the only utility revenue bonds outstanding. Bonds are secured by a net revenue pledge of the electric, water and wastewater systems. - Independent Bank Corp. Announces the Redemption of the Trust Preferred Securities
Independent Bank Corp., (NASDAQ: INDB), parent of Rockland Trust Company, today announced the issuance of a notice that all of the outstanding 8.625% Cumulative Trust Preferred Securities of Independent Capital Trust III (NASDAQ: INDBN) will be redeemed on December 31, 2006 at a liquidation amount of $25 per Preferred Security, together with accumulated and unpaid distributions through the redemption date. - Fitch Upgrades 6 Classes of Asset Securitization Corp.'s 1996-MD VI Commercial Mtge P-T Ctfs
The upgrades are due to loan repayments, defeasance and scheduled amortization. As of the November 2006 remittance date, the transaction has paid down 63.6% since issuance. - Dynacq Healthcare Inc. Announces Audited Financial Results for the Fiscal Year Ended August 31,2006
Dynacq Healthcare, Inc. (DYII) today announced audited financial results for the fiscal year ended August 31, 2006. For the fiscal year ended August 31, 2006, net loss increased by $798,698 from a net loss of $5,136,934 in fiscal 2005 to a net loss of $5,935,632 in fiscal 2006. - A.M. Best Affirms Rating of Prudential Life Insurance Company, Ltd. (Japan)
A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and assigned an issuer credit rating (ICR) of “aa-” to Prudential Life Insurance Company, Ltd. (POJ) (Japan). The outlook on both ratings is stable. - ARIAD To Webcast Presentation at the Lazard Capital Markets Third Annual Life Sciences Conference
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced that its presentation at the Lazard Capital Markets Third Annual Life Sciences Conference at the New York Palace Hotel in New York, New York on Wednesday, November 29, 2006 will be webcast live and can be accessed by visiting the investor relations section of the Company’s website at http://www.ariad.com/investor. - “Amazon Customers Vote” Week One Results Are In— Xbox 360 Available for Just $100 Thanksgiving Day
Voting for Week One of Amazon Customers Vote ended late last night with more than 84 percent of holiday shoppers voting for the Xbox 360 core system at the low price of $100. This deal will be available for purchase tomorrow, Thanksgiving Day, beginning at 2 p.m. ET/11 a.m. PT on Amazon.com (www.amazon.com). - ValuSource Announces RMA Annual Statement Studies™ Valuation Edition
ValuSource, the leader in business valuation software, today announced an exclusive agreement with The Risk Management Association® (RMA) to produce an enhanced version of their popular RMA Annual Statement Studies™ product. The Valuation Edition CD contains significantly more data than the standard version. - Heritage Financial Group Announces Plans for CFO Succession
Len Dorminey, President and Chief Executive Officer of Heritage Financial Group (NASDAQ: HBOS), the holding company of HeritageBank of the South, today announced that Tammy W. Burdette, Executive Vice President and Chief Financial Officer, has decided to step down from the position of Chief Financial Officer during 2007 to pursue a new role with the Company, which will afford her the opportunity to spend more time with her family. - Dividend Capital Total Realty Trust Announces Third Quarter 2006 Financial and Operating Results
Dividend Capital Total Realty Trust, a Denver, Colorado-based Real Estate Investment Trust (REIT), has announced financial and operating results for the three month period ended September 30, 2006. On November 14, 2006, the company filed its Form 10-Q for the third quarter of 2006 with the U.S. Securities and Exchange Commission. - Possis Medical, Inc. Reports First-Quarter Results
Possis Medical, Inc. (NASDAQ:POSS), a developer, manufacturer and marketer of pioneering medical devices for the cardiovascular and vascular treatment markets, today reported results for its fiscal 2007 first quarter that were within the range of its previously issued expectations. - Fitch Affirms 4 & Downgrades 1 RMBS Class From CDC 2003-HE1
Fitch has taken rating actions on the following CDC Mortgage Capital Trust, series 2003-HE1, mortgage pass-through certificates: - JPMorgan Securities Launches Floating Rate Corporate Bond Index
JPMorgan announced today the launch of a new fixed income index designed to provide its clients with a broad measure of the performance of the most liquid securities in the floating rate investment grade corporate bond market. - H&R Block Financial Advisors Hires Four Producers Totaling More Than $200 Million
H&R Block Financial Advisors (HRBFA) today announced it has hired four advisors from major investment firms representing more than $200 million in assets under management: Patti Grazioso, Gerry Kostuk, Thomas Banus and Louis Pannucci. - Fitch Affirms ProAssurance's Ratings
Fitch Ratings has affirmed the 'A-' insurer financial strength (IFS) ratings of ProAssurance Corporation's (PRA) primary insurance operating companies (listed below) and has assigned an 'A-' IFS rating to Physician's Insurance Company of Wisconsin (PIC Wisconsin), a recently acquired core subsidiary of PRA. - Capital One and Junior Achievement Named as Winners of U.S. Chamber Corporate Citizenship
Today, Capital One Financial Corporation (NYSE:COF) and Junior Achievement Worldwide™ (JA) were recognized by the Business and Civic Leadership Center of the U.S. - Zacks.com Announces That the Experts at Ultimate Option Strategies Highlight
Ken Trester, editor of the Ultimate Option Strategies newsletter, explains that stocks remain cheap versus other investments. Check out an option play on Emmis Communications (Nasdaq: EMMS). Click here for the full story exclusively on Zacks.com: http://at.zacks.com/?id=84 - Fitch Rates Florida HFC's $120MM Mortgage Revenue Bonds 'AA'
Fitch assigns an 'AA' rating to Florida Housing Finance Corporation's (FHFC) $120 million homeowner mortgage revenue bonds, 2006 series 6. The bonds are expected to be sold through negotiation the week of Nov. - Concentra to Present at the Bank of America 2006 Credit Conference
Concentra Operating Corporation ("Concentra" or the "Company") today announced that the Company will participate in the upcoming Bank of America 2006 Credit Conference, which takes place December 4-5 in Orlando, Florida. Representing Concentra will be Daniel J. Thomas, CEO of Concentra, and Thomas E. Kiraly, CFO, who will make a presentation on December 4 at 11:10 a.m. Eastern Time. - Baldwin Completes Oxy-Dry Acquisition And Announces New Credit Agreement
Baldwin Technology Company, Inc. (AMEX: BLD), a global leader in accessories and controls technology for the printing industry, announced today that it has completed the acquisition of the Oxy-Dry group of companies at a purchase price of approximately $18 million in cash, subject to adjustments. - Interpublic Announces Offer to Exchange New Floating Rate Notes Due 2010 for up to $250 Million
The Interpublic Group of Companies, Inc. (NYSE: IPG) announced today that it has launched an offer to exchange up to $250 million principal amount of its new Floating Rate Notes due 2010 (the “new notes”) for the same principal amount of its old Floating Rate Notes due 2008 (the “old notes”). - Wendy’s Announces Final Results of its Modified “Dutch Auction” Tender Offer
Wendy’s International, Inc. (NYSE:WEN) today announced the final results of its modified “Dutch Auction” tender offer, which expired at 5:00 p.m., Eastern Time, on November 16, 2006.
The Company has accepted for purchase 22,413,278 of its common shares at a purchase price of $35.75 per share, for a total cost of $801.3 million. - BullMarket.com Offers Investment Opinion on Canadian Oil Trusts
BullMarket.com (http://www.bullmarket.com), an online investment newsletter focused on long-term growth and income-generating stocks, announced today that it has provided subscribers with a detailed report on Canadian oil trusts including Pengrowth Energy Trust (NYSE: PGH), Penn West Energy Trust (NYSE: PWE), and Enerplus Resources Fund (NYSE: ERF). - Nascent Wine Company CEO Sandro Piancone to Be Featured Speaker at the National Investment Banking
Nascent Wine Company, Inc. (OTCBB: NCTW) is pleased to announce that its CEO, Sandro Piancone, has been invited be a featured speaker at the National Investment Banking Association Capital Conference in Las Vegas, NV.
The conference will occur at The Westin Casuarina Hotel and Spa November 30 and December 1, 2006. Mr. Piancone will give multiple presentations to the attendees of the conference over the two days. - Rainier Pacific Financial Group, Inc. Declares Cash Dividend
Rainier Pacific Financial Group, Inc. (NASDAQ:RPFG) today reported that its Board of Directors declared a cash dividend of $0.06 per share on its common stock.
The dividend will be paid on December 18, 2006 to shareholders of record as of the close of business on December 4, 2006. This is the twelfth consecutive quarterly cash dividend for Rainier Pacific Financial Group, Inc. - Fitch: Vintage 2004 U.S. CMBS Delinquencies Up Sharply As Overall Rate Falls
As U.S. CMBS delinquencies continue their overall decline due to continued solid commercial real estate fundamentals; the vintage 2004 transaction delinquency rate continues to climb, according to Fitch Ratings latest U.S. CMBS loan delinquency index. - Simulations Plus to Present at Two Investor Conferences in Early December
Simulations Plus, Inc. (AMEX:SLP), a leading provider of ADMET absorption simulation and structure-to-property prediction software for pharmaceutical discovery and development, announced today that Walt Woltosz, the company’s chairman and chief executive officer, will present at two upcoming investor conferences in New York City. - ISE to Present at the CIBC World Markets 2nd Annual Mid & Small Cap `Best Ideas' Conference
The International Securities Exchange (NYSE: ISE) said today that David Krell, President and Chief Executive Officer, will present at the CIBC World Markets 2nd Annual Mid & Small Cap “Best Ideas” Conference on Tuesday, November 28, 2006 at 10:15 a.m. ET. An audio webcast of the presentation will be available on the Investor Relations section of ISE’s website at www.iseoptions.com and will be archived there for 90 days. - Fitch Ratings Affirms Banco Industrial's IDRs at 'BB'
Fitch Ratings has affirmed Guatemala's Banco Industrial's (Industrial) long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BB'. The Rating Outlook remains Stable.
Due to its dominant position, Industrial has benefited from a pick up in economic activity and strong loan growth. The improving operating environment has also aided asset quality, liquidity and profitability ratios. - AmTrust Financial Services to Present at 2006 FBR Investor Conference
AmTrust Financial Services Inc. (Nasdaq:AFSI) announced today that the Company’s senior management will provide a business update at the Friedman Billings Ramsey (FBR) Investor Conference, to be held on November 29, 2006 at 10:45 AM ET at the Grand Hyatt Hotel in New York City. - Fitch: Extendible Notes are Liquid, Book to Expected Maturity
One of the most debated issues among money market professionals, according to Fitch Ratings in a new report, has been the appropriate treatment, from a maturity and liquidity perspective, of asset-backed extendible notes (ABENs) in money market funds. - Fitch Rates Southwest Georgia Oil Company's $15MM VRBs Series 2006 'A/F1'
Fitch assigns a rating of 'A/F1' to the $15,095,000 Southwest Georgia Oil Company, Inc., variable rate taxable bonds, series 2006. The rating is based on the support provided by an irrevocable, direct-pay letter of credit (LOC) issued by Columbus Bank and Trust Company, securing the bonds. The bank is obligated to make payments of principal and interest when due, as well as the purchase price for tendered bonds. - Fitch Revises Outlook for Detroit Edison to Positive; Affirms DTE and Subs
Fitch has revised the Rating Outlook for The Detroit Edison Company (DECo) to Positive from Stable. Additionally, Fitch has affirmed the 'BBB' Issuer Default Ratings (IDR) for the DTE Energy Company (DTE) and its subsidiaries, DECo and Michigan Consolidated Gas Co. (MichCon). The Rating Outlooks for DTE and MichCon are Stable. Approximately $6.9 billion of debt is affected. A detailed description of the ratings is shown below. - AIM Survey: Financial Institutions Struggling with Regulations and Realising Efficiencies
According to a survey undertaken by AIM Software, the financial industry continues to struggle with compliance with regulations, including Basel II, MiFID, and the Sarbanes-Oxley Act. AIM Software’s study was designed to provide insights into the driving forces, and planned investments for reference data automation and risk management. - Origin Agritech Limited Schedules Release of Unaudited Six-Month Financial Results and Conference
Origin Agritech Limited (“Origin”) (Nasdaq:SEED) today announced that it will issue unaudited financial results for the six months ended June 30, 2006 prior to the opening of the stock market on Monday, November 27, 2006. Management will conduct a conference call that morning at 9:00 am Eastern Time to discuss the results. - Harvey Electronics, Inc. Announces Fourth Quarter and Year End Sales Results
Harvey Electronics, Inc. (“Harvey Electronics”, “Harvey” or the “Company”; NASDAQ: “HRVE”) announced fourth quarter and year end sales results ended October 28, 2006.
For the twelve months ended October 28, 2006, net sales aggregated $36.1 million, a decrease of approximately $4.4 million or 10.8% from the same period last year. Comparable store sales for the year ended October 28, 2006 decreased approximately $5.9 million or 14.7% from the same period last year. - Cognitronics Names John Steinkrauss as Vice President, Chief Financial Officer and Treasurer
Cognitronics Corporation (AMEX:CGN), a leading provider of call processing technology, today announced the appointment of John Steinkrauss to the positions of Vice President, Chief Financial Officer and Treasurer, effective immediately. Mr. Steinkrauss succeeds Garrett Sullivan. Mr. Sullivan will serve as a financial consultant to the Company on an interim basis. - ServiceMaster Announces Promotion of Ernie Mrozek to Vice Chairman
The ServiceMaster Company (NYSE:SVM) announced today that Ernie Mrozek has been promoted to Vice Chairman of the company. Mr. Mrozek previously served as the company’s President and Chief Financial Officer. - Fitch Releases U.S. Corporate Bond Market Third Quarter Review
The par value of U.S. corporate bonds affected by upgrades totaled $32.6 billion in the third quarter, or 1.0% of market volume, while downgrades totaled $70.5 billion, or 2.2% of outstanding U.S. corporate bonds -- double the rate of upgrades, according to Fitch Ratings. - New York-Based Signature Bank Unaffiliated with Other Entities
Signature Bank (NASDAQ:SBNY), a New York-based full-service commercial bank, clarified today that it is not affiliated with any other Signature Bank in the country that may share the same or similar names. - Aequitas Capital Management Invests $1.5 Million in microHelix
Private equity investment firm Aequitas Capital Management, Inc., announced today that it has invested a total of $1.5 million in microHelix, Inc. (OTCBB:MHLX), a manufacturer of custom cable assemblies for the medical and commercial OEM markets. - Fitch Rts Mosaic's Proposed Sr. Unsec Notes & Sr. Sec Term Loans 'BB/BB+'
Fitch assigns a 'BB' rating to The Mosaic Company's (Mosaic) proposed senior unsecured notes due 2014 and 2016 and a 'BB+' rating to the company's proposed senior secured term loans. - Scottrade expands branch network with new office in Waite Park, Minn.
Scottrade, a leading branch-supported online investing firm, announces the opening of a new branch office in Waite Park, Minn. The branch, located at 631 2nd Street S. at the Sundial Village shopping center, opens on Monday, Nov. 13. - Cohen Financial Secures $21.1 Million in Financing for Nine-Story Former Macy’s Parking Garage
Cohen Financial announced that Angus Cameron, director in its San Francisco office, has secured $21.1 million in debt financing for the refinance and renovation of Macy’s Garage for Portland, Oregon based Pine Garage, LLC. - Templeton Closed-End Funds' Confirm Filing of Annual Reports
Each of the Templeton closed-end Funds referenced below, which trades on the New York Stock Exchange, today announced that it has filed with the U.S. - Fitch Affirms JP Morgan Chase, Series 2001-A
Fitch Ratings affirms JP Morgan Chase Commercial Securities Corp., series 2001-A, as follows: - Fitch Affirms GE 2005-C3
Fitch Ratings affirms GE Commercial Mortgage Securities Inc. commercial mortgage pass-through certificates, series 2005-C3 as follows: - Amend: Fitch Affirms Union Hospital (Affinity Health Alliance), Maryland Hosp Revs at 'A'
(This is an amended version of a press release originally issued on Oct. 24 and contains additional information provided by Affinity as it relates to the second paragraph, as well as additional information on its disclosure practices in the last paragraph.) - UpSNAP Reports Fiscal Year 2006 Results
UpSNAP, Inc. (OTCBB:UPSN) today announced consolidated revenues and earnings for its fiscal year and fourth quarter ended September 30, 2006.
For Fiscal 2006, the Company posted revenues of $742,851 and a net loss of $1,788,368 for the fiscal year or .10 cents per share.
These results compare to zero revenue and a net loss of $158,586, or $.04 cents per share, for fiscal 2005. - Paul C. Carbone Named Principal Accounting and Financial Officer at Tween Brands
The Board of Directors of Tween Brands, Inc. (NYSE:TWB) has appointed Senior Vice President of Finance, Paul C. Carbone, to the added positions of Principal Accounting Officer and Principal Financial Officer. Mr. Carbone will continue to report to William E. May, Jr., Executive Vice President and Chief Operating Officer. - ENDESA Receives the Funds from the Securitisation of Its Tariff Deficit Collection Rights
Today ENDESA (NYSE:ELE) received the funds from the securitisation of its 2005 tariff deficit collection rights, which were acquired by BNP Paribas y Banesto. The portion of the 2005 tariff deficit corresponding to ENDESA amounted to 1,683 billion, 44.16% of the total. - Fitch Rates Capital One Multi-asset Execution Trust Class A (2006-14) 'AAA'
Fitch Ratings assigns a rating of 'AAA' to $500 million class A (2006-14) card series notes issued by the Capital One Multi-asset Execution Trust (COMET). - Fitch Upgrades Transener's National Scale to 'BBB+(arg)'; Rates US$250MM Proposed Note Offering
Transener's ratings reflect its improving financial profile and operating performance. Over the last year, credit fundamentals have strengthened following the company's debt restructuring and the recently implemented tariff increase. Credit protection measures are expected to improve slightly from currently levels and stabilize following completion of the proposed refinancing. - Valery Zubov, Russian DUMA MP To Address National Investment Banking Association at Las Vegas
The National Investment Banking Association announced today that Professor Valery Zubov, PhD, and member of the Russian Federal Parliament Committee on Credit Organizations and Financial Markets, will be the keynote luncheon speaker on Thursday, November 30, 2006 at NIBA’s November 30 - December 1, 2006 Las Vegas Capital Conference at the Westin Casuarina Hotel in Las Vegas. - Fitch Places National Steel's Notes on Rating Watch Negative
Fitch Ratings has placed the 'BB' foreign currency rating of National Steel S.A.'s (National Steel) US$450 million 9.875% perpetual notes on Rating Watch Negative.
This rating action reflects the proposed plans by Companhia Siderurgica Nacional (CSN) to acquire the Corus Group Plc (Corus), a European steel producer for approximately US$8 billion (475 pence per ordinary share). - BioScrip On Track to Return to Profitability
BioScrip, Inc. (NASDAQ:BIOS), a comprehensive pharmaceutical care solutions company, today announced that the Company is continuing to make strides towards returning to profitability, primarily through improving collections, reducing expenses, and enhancing top line growth. During the third quarter, the Company refocused its billing and collections efforts and implemented new operational procedures to ensure better collections at the point of sale. - Fitch Upgrades State of Iowa Implied GOs to 'AA+' from 'AA'
Fitch Ratings has upgraded the State of Iowa's implied general obligation (GO) bond rating to 'AA+' from 'AA'. The rating is implied as the state does not issue GO debt. The Rating Outlook is Stable. - A.M. Best Places Various Ratings of HCC Insurance Holdings, Inc.
A.M. Best Co. has placed the financial strength ratings (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” under review with negative implications for the property/casualty insurance members of the HCC Insurance Holdings (HCC) group. - Fitch Downgrades 3, Affirms 8 Ratings from MASTR Second Lien Trust 2005-1
The affirmations affect approximately $135.3 million of the outstanding certificates. The downgrades affect approximately $9.6 million of the outstanding certificates. Fitch previously took negative rating action on the above transaction in July 2006 by downgrading class M-10 and placing classes M-8 and M-9 on Rating Watch Negative. - Fitch Rates Iowa's $500MM TRANs 'F1+'
Fitch rates the State of Iowa's $500,000,000 tax and revenue anticipation notes (TRANs), series 2006, 'F1+'. The notes are expected on Nov. 29 through negotiation with a syndicate led by Morgan Stanley. The notes are due June 29, 2007, without option to call. - Ethical Corporation’s Sustainable Finance Summit to Take Place on 28th-29th November in London
Interest in sustainable finance appears to have reached a tipping point. Growth in the sector over the last ten years has been staggering: the Equator Principles for project finance now cover over 80% of the industry, and already the UN Principles on Responsible Investment have attracted banks with combined assets of over $5 trillion. - Airgas Declares Regular Dividend for Third Quarter FY2007
Airgas, Inc. (NYSE:ARG) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.07 per share, payable December 29, 2006 to shareholders of record as of December 15, 2006. - Fitch Rates Rockingham Memorial Hospital (Virginia) 'A-'; Outlook Stable
Fitch Ratings assigns a long term rating of 'A-' to the following bonds issued or to be issued on behalf of Rockingham Memorial Hospital (Virginia):
--$215 million Harrisonburg Industrial Development Authority (Rockingham Memorial Hospital) Revenue Bonds, Series 2006;
--$50 million Harrisonburg Industrial Development Authority (Rockingham Memorial Hospital) Variable Rate Revenue Bonds, Series 2005. - LL&E Royalty Trust Announces Trust Distribution for December 2006
LL&E Royalty Trust (NYSE:LRT) announced today the Trust income distribution for the month of December 2006. This distribution represents amounts payable to the Trust with respect to production for the month of September 2006. Unit holders of record on December 5, 2006 will receive a distribution of $309,052 or approximately $.016273 per Unit payable on December 15, 2006. - Dutton Associates Announces Investment Opinion: Minrad International Rating Maintained
Dutton Associates continues coverage of Minrad International (Nasdaq:BUF) maintaining a strong buy rating and a price target of $5.85. The 13-page report by Dutton senior analyst William R. Prather, R.Ph., M.D., is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals. - Fitch Rates Leesburg, Virginia's $19.7MM GOs 'AA'; Outlook Stable
Fitch Ratings assigns an 'AA' rating to the Town of Leesburg, Virginia's (Leesburg) $19.7 million general obligation (GO) and refunding bonds, series 2006B. The bonds, which mature serially on July 1, 2008-2027, will be sold via negotiation with Morgan Keegan and Company, Inc. on Dec. 5, 2006. Davenport & Company LLC of Richmond, VA serves as the town's financial advisor. In addition, Fitch affirms the 'AA' rating on $104 million of outstanding GO bonds. The Rating Outlook is Stable. - Dutton Associates Announces Investment Opinion: Elron Electronic Industries Rating
Dutton Associates updates its coverage of Elron Electronic Industries (Nasdaq:ELRN) maintaining a Strong Buy rating and a price target of $15.00. The 9-page report by Dutton senior analyst Barry Raeburn is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals. - Fitch Rates California's $1.063B GOs 'A+'
Fitch also affirms the 'A+' rating on approximately $39 billion in State of California outstanding GO and veterans GO bonds. The 'AA-' rating assigned to $9.8 billion GO economic recovery bonds is also affirmed. The Rating Outlook is Stable. - The First Marblehead Corporation Receives Approval To Acquire Union Federal Savings Bank
The First Marblehead Corporation (NYSE: FMD) announced that it received approval today from the Office of Thrift Supervision (OTS) to acquire Union Federal Savings Bank (UFSB) of North Providence, Rhode Island. - Fitch Upgrades HALCYON 2005-2, Ltd.
This upgrade is the result of reduced time to maturity and stable portfolio quality. Since closing, the reference obligations have maintained their 'AAA' ratings, keeping the Fitch Weighted Average Rating Factor at 0.19. As of the Oct. 25, 2006 trustee report, the reference obligations had not experienced any credit events. In addition, there have not been any principal paydowns or interest shortfalls. - Fitch Rates CIT Equipment Collateral 2006-VT2
The underlying pool of contracts backing the CITEC 2006-VT2 notes consists of equipment lease contracts on new and used technology and other small-ticket equipment originated or acquired by the commercial business units of the Specialty Finance segment of CIT Group Inc (CIT). The initial contract principal balance is approximately $741.9 million. The pool contains 51,828 contracts with major equipment types being computers, telecommunications and office equipment. - Fitch Rates Babylon, New York Series 2006 Bonds 'A'; Upgrades Outstanding GOs to 'A'
Fitch Ratings assigns an 'A' rating to the Town of Babylon, NY's $15.8 million public improvement serial bonds, series 2006. The bonds are scheduled to price competitively on Dec. 1, 2006. Bond proceeds will be used to fund various general government capital projects. Also at this time Fitch upgrades to 'A' from 'A-' the rating on the town's approximately $149 million outstanding GO bonds. The Rating Outlook is Stable. - Fitch Places MetEd and PenElec on Rating Watch Negative
Fitch has placed the debt securities of Metropolitan Edison Co. (MetEd) and Pennsylvania Electric Co. (PenElec) on Rating Watch Negative. The rating action reflects the higher commodity exposure and business risk that would result from the possible termination of the existing power supply contract with wholesale power supply affiliate FirstEnergy Solutions (FES) and the increased likelihood that Pennsylvania regulators will reject the generation rate cap adjustments proposed by the utilities. - Fitch Lowers 1 DR & Affirms 11 Classes from 6 FIB & SBA Transactions
The DR rating downgrade results from changes in recovery expectations on currently defaulted loans. Fitch's analysis incorporated a review of collateral characteristics of the defaulted loans to determine recovery expectations. In its analysis, Fitch reviewed each transaction on an individual loan basis. All loans over 60 days delinquent were deemed defaulted loans.
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