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- Fitch Downgrades Fidelity National's Ratings
- CHICAGO -- Fitch Ratings has downgraded the Issuer Default Rating IDR of Fidelity National Financial, Inc. (NYSE:FNF) to 'BBB' from 'BBB+' and the insurer financial strength IFS ratings of its title insurance subsidiaries please see complete list below to 'A-' from 'A'. All ratings were removed from Rating Watch Negative...
- Research articles 2008-10-24
- Fitch Affirms H&R Block's IDR at 'BBB'; Outlook Stable
- NEW YORK -- Following H&R Block Inc.'s (H&R Block) sale of $145 million of common equity to enhance capital and maintain financial flexibility, Fitch Ratings has affirmed the following ratings: H&R Block: --Issuer Default Rating IDR at 'BBB'; Block Financial Corp: --IDR at 'BBB'; --Senior...
- Research articles 2008-10-22
- Fitch Affirms OrCal Geothermal's Sr. Secured Notes at 'BBB-'; Outlook Stable
- CHICAGO -- Fitch Ratings has affirmed the 'BBB-' rating of OrCal Geothermal Inc.'s OrCal $165 million senior secured notes due 2020. While recent financial results have fallen short of Fitch's original projections, the affirmation reflects Fitch's expectation that OrCal's performance will not be permanently affected by current operational challenges. The...
- Research articles 2008-08-27
- Fitch Affirms Anadarko Petroleum's IDR at 'BBB-'; Outlook Stable
- NEW YORK -- Fitch Ratings has affirmed Anadarko Petroleum Corporation's (NYSE:APC) long-term Issuer Default Rating IDR and other associated debt ratings following its announcement of a $5 billion stock repurchase program. Anadarko Petroleum Corp. --Long-term IDR affirmed at 'BBB-'; --Sr. Unsecured affirmed at 'BBB-'; --Bank Loan...
- Research articles 2008-08-26
- Fitch Downgrades Rutland Rated Investments - Archer 2007-1 ; Resolves Negative Watch
- NEW YORK -- Fitch Ratings has downgraded the following tranche of Rutland Rated Investments Archer 2007-1 (Series 44) (Archer 2007-1) and removed the notes from Rating Watch Negative. The following rating action is effective immediately: --$25,000,000 tranche A1-L secured limited recourse credit-linked notes due 2012 to 'BBB' from 'AAA'....
- Research articles 2008-08-01
- Fitch Downgrades Rutland Rated Investments - Coleman Brook ; Resolves Negative Watch
- NEW YORK -- Fitch Ratings has downgraded the following tranche of Rutland Rated Investments Coleman Brook (Series 53) Coleman Brook and removed the notes from Rating Watch Negative. The following rating action is effective immediately: --$25,000,000 Rutland Rated Investments - Coleman Brook (Series 53) Tranche A1-L secured limited to...
- Research articles 2008-08-01
- Fitch Rates AutoZone's $750MM Notes 'BBB'; Outlook Stable
- CHICAGO -- Fitch Ratings has assigned 'BBB' ratings to AutoZone, Inc.'s AutoZone new $500 million 6.5% senior unsecured notes due January 2014 and $250 million 7.125% senior unsecured notes due July 2018. The proceeds from the offering will be used for general corporate purposes, which include repaying, redeeming or repurchasing...
- Research articles 2008-07-30
- Fitch Upgrades RBTT's IDR to 'A+' on Purchase by Royal Bank of Canada
- NEW YORK -- Fitch upgraded RBC Financial Caribbean Limited, formerly RBTT Financial Holdings Limited RBTT, to 'A+' from 'BBB-' after Royal Bank of Canada's RBC purchase of RBTT was completed on June 16, 2008 in a transaction valued at approximately US$2.2 billion. The upgrade to 'A+' reflects the institutional support...
- Research articles 2008-06-20
- Fitch Downgrades Tyson's IDR to 'BB+'; Outlook Negative
- CHICAGO -- Fitch Ratings has downgraded the ratings for Tyson Foods, Inc. Tyson(NYSE:TSN) and its subsidiaries as follows: Tyson --Issuer Default Rating IDR to 'BB+' from 'BBB-'; --Unsecured bank facility to 'BB+' from 'BBB-'; --6.85% 2016 senior unsecured notes to 'BB+' from 'BBB-'; --8.25% 2011...
- Research articles 2008-06-17
- Fitch Affirms $61.8MM & Downgrades $79.1MM from 2 Bear Stearns Subprime Deals
- NEW YORK -- Fitch Ratings has taken the following rating actions on the Bear Stearns Asset Backed Securities transactions listed below. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are removed. Affirmations total $61.8 million and downgrades total $79.1 million. Additionally, Fitch placed $13.7 million...
- Research articles 2008-04-28
- Fitch Comments on Pending Michigan Electric Law
- CHICAGO -- Last week, the Michigan House of Representatives passed House Bill HB 5524, which would provide for significant changes to Michigan's electricity regulatory framework if enacted into law. Overall, Fitch considers the legislation, as proposed, supportive of the credit of investor-owned electric utilities operating within the state because it...
- Research articles 2008-04-23
- Fitch Affirms $348.5MM and Downgrades $269.7MM from 5 2005 RASC Subprime Transactions
- NEW YORK -- Fitch Ratings has taken the following rating actions on Residential Asset Securities Corporation RASC mortgage pass-through certificates. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are now removed. Affirmations total $348.5 million and downgrades total $269.7 million. Additionally, $8.0 million was placed...
- Research articles 2008-04-17
- Fitch Affirms $187.9MM & Downgrades $64.5MM from 2 Quest Subprime Deals
- NEW YORK -- Fitch Ratings has taken the following rating actions on two Quest Trust mortgage pass-through certificate transactions. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are removed. Affirmations total $187.9 million and downgrades total $64.5 million. Break Loss percentages BL and Loss Coverage...
- Research articles 2008-04-16
- Fitch Affirms $339MM & Lowers $21.3MM on 2 C-BASS 2007 1st & 2nd Lien Subprime Deals
- NEW YORK -- Fitch Ratings has taken the following rating actions on Credit-Based Asset Servicing and Securitization LLC (C-BASS) mortgage pass-through certificates. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are removed. Affirmations total $339 million and downgrades total $21.3 million. Additionally, $3.9 million remains...
- Research articles 2008-02-29
- Fitch Revises iStar's Outlook to Negative; Affirms IDR at 'BBB'
- NEW YORK -- Fitch Ratings has affirmed iStar Financial Inc.'s (NYSE: SFI) ratings as follows: --Issuer Default Rating IDR at 'BBB'; --Unsecured revolving credit facilities at 'BBB'; --Senior unsecured notes at 'BBB'; --Preferred stock rating at 'BB+'. Fitch has also assigned a 'BBB' rating to...
- Research articles 2008-02-15
- Fitch Affirms 30 Classes from 5 Merrill Lynch Mortgage Investor Trusts
- NEW YORK -- Fitch Ratings has affirmed all classes from the following Merrill Lynch Mortgage Investor Trusts: Series MLCC 2006-1 --Class A affirmed at 'AAA'; --Class M-1 affirmed at 'AA'; --Class M-2 affirmed at 'A'; --Class M-3 affirmed at 'BBB'; --Class B-1 affirmed at...
- Research articles 2008-01-30
- Fitch: Year 3 of Housing Downturn Remains Dismal for U.S. Homebuilding
- NEW YORK -- The housing contraction unexpectedly gained momentum in 2007 and looks to extend, with some ferocity, at least well into 2008, according to Fitch Ratings. Affordability and wavering buyer confidence were the key issues in 2006, while significantly tighter mortgage standards (for subprime and Alt-A) and disrupted...
- Research articles 2007-12-13
- Fitch: Higher Operating Costs Threaten U.S. Commodity Food Profits in 2008
- CHICAGO -- Commodity protein producers and processors; such as Tyson Foods, Inc. Tyson, Smithfield Foods, Inc. Smithfield, Pilgrim's Pride Corp. (Pilgrim's) and Hormel Foods Corp. Hormel, have been absorbing high feed grain costs in their production operations and higher live animal procurement costs in their processing businesses. Commodity fruits and...
- Research articles 2007-12-06
- Fitch Affirms 3, Downgrades 1, and Places 1 Class on Watch Negative from MLMI 2004-HE1
- NEW YORK -- Fitch has taken the following rating actions on Merrill Lynch Mortgage Investors, series 2004-HE1: --Class M1 affirmed at 'AA'; --Class M2 affirmed at 'A'; --Class B1 affirmed at 'BBB+'; --Class B2 rated 'BBB' is placed on Rating Watch Negative; --Class B3 downgraded...
- Research articles 2007-11-27
- Fitch Affirms 5 & Downgrades 8 Classes from 2 BSABS Transactions
- NEW YORK -- Fitch has taken rating actions on the following Bear Stearns Asset Backed Securities BSABS mortgage pass-through certificates: Bear Stearns Asset Backed Securities Trust, Series 2004-2 --Class A affirmed at 'AAA'; --Class M-1 affirmed at 'AA+'; --Class M-2 downgraded to 'BBB+' from 'A'; ...
- Research articles 2007-10-25
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