BNET Industries
Last Fiscal Year Sales:$300.0M
- Private
- US
Dow Jones Description
U.S. consumer credit quality measures worsened last month as credit card chargeoffs rose and cardholder payment rates slowed dramatically, according to the latest Credit Card Index results from Fitch Ratings. On a positive note, credit card ABS investors remain well protected from potential rating actions and early amortization scenarios. As such, Fitch expects credit card ABS ratings outlook to remain stable throughout 2009.
Number of Employees 1,000
Peer Companies
NAICS Code Miscellaneous Financial Investment Activities: 523999
Recent Events
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Fitch Rates Vermont Housing Fin Ag's 1990 Single Family Housing Bond Res 'A+'; Outlook Stable
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Fitch withdraws MGIC ratings
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Fitch Rates $9.085MM Michigan Higher Ed Facils Auth Spring Arbor Univ Ser 2010 VRDBs 'A/F1'
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Government Bonds -- the New Junk?
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Fitch Rates Indiana State University's $9.6MM Series N Rev Bonds 'A+'
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Fitch Affirms Target Corporation's IDR at 'A'; Outlook Stable
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Fitch Rates $66.2MM Westminster Manor TX Series 2010 Rev Bonds 'BB+'; Outlook Stable
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Fitch Assigns Initial TrAILCo 'BBB-' IDR; Outlook Stable
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Fitch Affirms Rockwell Collins' IDR at 'A'
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LCRA to sell $426M bonds, gets A+ rating
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Fitch Upgrades Vermont Electric Cooperative's Sr Secured Rating to 'BBB'; Outlook Stable
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Fitch Assigns 'BBB' to Prudential Financial Inc.'s Senior Debt
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Fitch Rates NYSEFC's SRF Bonds for NY Water 'AAA'; Sub Bonds 'AA+'
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Fitch Rates Pennsylvania Economic Dev Financing Auth Revs 'A+'; Outlook Stable
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Fitch Expects to Rate M.D.C. Holdings' $250MM Senior Unsecured Notes 'BBB-'
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Fitch Downgrades The South Financial Group's IDR to 'B-'; Watch Negative
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Fitch places McClatchy on Watch Positive
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Fitch Rates Orlando Utilities Commission, FL's $200MM Util Sys Rev Bonds 'AA'; Outlook Stable
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Fitch Affirms Level 3 Communications, Inc. IDR at 'B-'; Revises Outlook to Stable
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Fitch upgrades Ford's rating to 'B-' from 'CCC'
News & Analysis
Filter by
fitch ratings and orix corp. - All News and Analysis
Fitch Upgrades ORIX Capital Market's CMBS Special Servicer Rating to 'CSS2-'
CHICAGO -- Fitch Ratings upgrades ORIX Capital Markets' OCM special servicer rating to 'CSS2-' from 'CSS3+'. The special servicer rating upgrade is based on the real estate experience of...
Fitch Affirms ORIX's CMBS Special Servicer Rating at 'CSS3+'
NEW YORK -- Fitch Ratings has affirmed ORIX Capital Markets' OCM special servicer rating at 'CSS3+'. The special servicer rating reflects OCM's continued ability to work out and resolve commercial mortgage loans and real estate owned REO properties in commercial mortgage-backed securities CMBS transactions. The affirmation is based on...
Fitch Upgrades ORIX Capital Market's CMBS Special Servicer Rating to 'CSS3+'
CHICAGO -- Fitch Ratings has upgraded ORIX Capital Markets' OCM special servicer rating to 'CSS3+' from 'CSS3'. The special servicer rating reflects OCM's continued ability to work out and resolve commercial mortgage loans and real estate owned REO properties in commercial mortgage-backed securities CMBS transactions. The upgrade is based on...
Fitch Affirms ORIX's Special Servicer After KeyBank Sale; Withdraws Master & Primary
CHICAGO & NEW YORK -- Fitch Ratings has affirmed ORIX Capital Markets OCM 'CSS3' special servicer rating following the Dec. 7 sale of all of its master and primary servicing rights to KeyBank Real Estate Capital. Fitch also withdraws OCM's 'CMS2' master servicer rating and 'CPS2' primary servicer rating. ...
Fitch: U.S. CMBS Rating Actions Unlikely After KeyBank's Purchase of ORIX's Servicing Business
CHICAGO -- Fitch Ratings does not anticipate taking any rating actions on KeyBank Real Estate Capital's KBREC servicer ratings or on various Fitch-rated CMBS transactions after yesterday's announcement that KeyCorp Key, parent of KBREC, agreed to acquire the servicing business of ORIX Capital Markets, LLC ORIX. Key will acquire the...
Fitch Affirms ORIX Capital Market's CMBS Servicer Ratings
CHICAGO -- Fitch Ratings affirms ORIX Capital Market's OCM primary servicer rating of 'CPS2', its master servicer rating of 'CMS2', and its special servicer rating of 'CSS3'. The primary servicer rating is based on OCM's ability to effectively service mortgage loans in CMBS transactions. The master servicer rating reflects OCM's...
Fitch Affirms Merrill Lynch Mortgage Investors, Inc.'s 1999-C1
CHICAGO -- Fitch Ratings affirms Merrill Lynch Mortgage Investors, Inc.'s mortgage pass-through certificates, series 1999-C1, as follows: -- $66.1 million class A-1 at 'AAA'; -- $337.8 million class A-2 at 'AAA'; -- Interest only class IO at 'AAA'; -- $32.6 million class B at 'AA'; ...
Fitch Affirms ORIX Real Estate Capital Markets, LLC Special Servicer Ratings
Business Editors NEW YORK--BUSINESS WIRE--March 5, 2003 ORIX Capital Markets, LLC ORIX special servicer rating of 'CSS1' is affirmed by Fitch Ratings based on their consistent ability to specially service and resolve distressed assets securing commercial mortgage-backed securities CMBS. The rating reflects ORIX's highly experienced team and commitment...
Fitch Places RMF 1995-1 Cls E & F On Rtg Watch Negative; Interest Shortfalls
Business Editors CHICAGO--BUSINESS WIRE--Jan. 28, 2003 RMF Commercial Mortgage Pass-Through Certificates, series 1995-1's $10.2 million class E, rated 'BB-' and $7.3 million class F, rated 'CCC' are placed on Rating Watch Negative by Fitch Ratings. The Rating Watch Negative placement is a result of interest shortfalls incurred...
Fitch Affirms ORIX's Master and Primary Servicer Ratings
Business Editors NEW YORK--BUSINESS WIRE--Dec. 17, 2002 Fitch Ratings has affirmed ORIX Capital Markets, LLC ORIX master and primary servicer ratings at 'CMS1' and 'CPS1', respectively. The primary servicer rating reflects ORIX's ability to effectively service loans in CMBS transactions. The master servicer rating reflects ORIX's ability...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Robert Weisman | |
| Stephen W. Joynt | Chief Executive Officer |
| Robert J Grossman | Chief Credit Officer |
| Andrew Steel | Managing Director |
| Brian Coulton | Managing Director |
| Bridget Gandy | Managing Director |
| David Marshall | Managing Director |
| David Riley | Managing Director |
| David Wharrier | Managing Director |
| Edward Eyerman | Managing Director |
| Ian Linnell | Managing Director |
| John Bareiss | Managing Director |
| John Hatton | Managing Director |
| John Olert | Managing Director |
| Keith Buckley | Managing Director |
| Marion Silverman | Managing Director |
| Mark Oline | Co-Head of the Corporate Finance Group |
| Olivier Delfour | Managing Director |
| Peter Shaw | Managing Director |
| Richard Hunter | Managing Director |
| Roger Merritt | Managing Director |
| Ann Flynn | Senior Director |
| Erwin Van Lumich | Senior Director |
| Gregg Katz | Associate Director |
| Jance Casserly | Manager, Hr |
| Daniel C Champeau | |
| Frederic J Martucci | |
| Michael Belsky | |
| Olu Sonola | Director |
| Paul Cohen | Director |
| Tim Ockenga | Director |
| Yibin Zhang | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Stuart Jennings | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Palm Beach County Government | County Administrator | Current |
| Fitch Ratings | Current | |
| Standard & Poor's | Current | |
| Palm Beach County | Director | Former |
| Organization | Position | Status |
|---|---|---|
| Algorithmics, Inc | Chief Executive Officer | Current |
| Fitch Ratings | Chief Executive Officer | Current |
| Fitch Risk | Chief Executive Officer | Current |
| Standard & Poor's | N/A | Current |
| Fitch, Inc. | President & CEO | Former |
| Fitch Ratings | President | Former |
| Fimalac s.a. | Executive Officer | Former |
| The University of Arizona | Bachelor of Science Degree In Business Administration | Former |
| Organization | Position | Status |
|---|---|---|
| Journal of Investment Management | Group Managing Director and Chief Credit Officer at Fitch Ratings | Current |
| Fitch Ratings | Chief Credit Officer | Current |
| Fitch Ratings | Group Managing Director | Current |
| New York University | MBA | Former |
Andrew Steel is a managing director of Fitch Ratings and is responsible for Fitch's energy, utilities, and project finance rating services in Europe, the Middle East, and Africa . His group rates issuers in all links of the upstream and downstream oil, gas, and power industries, as well as project finance transactions ranging from hospitals and schools to LNG. Prior to joining Fitch, Andrew was head of ABN Amro's structured industry finance, power, and utilities group for Europe, the Middle East, and Africa . He also worked for Edison Capital Europe as a private equity investment director, for PowerGen plc as a senior project finance manager, and in the banking sector as a mezzanine, leveraged buy-out and cross-border M&A lender. Andrew graduated from The University of Bristol with a BSc (Hons) in Psychology
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| University of Bristol | Bsc (Hons) In Psychology | Former |
Brian Coulton is a managing director at Fitch Ratings and is head of EMEA (Europe, Middle East, and Africa ) sovereigns and global economics in the sovereign group. He is lead sovereign analyst for Italy and the other large European economies and co-ordinates Fitch's monitoring and forecasts for the global economy. Brian returned to Fitch's London office in August 2005 following a three-year secondment to Hong Kong as head of Asia sovereign ratings. During this time he established Fitch's Asian sovereign ratings unit and was responsible for regional sovereign credit issues and the agency's ratings of China , Hong Kong , Japan , and the Philippines . Prior to joining Fitch in 1999, Brian was an economic adviser at the UK Treasury in London . Brian has a Masters Degree in Economics from the University of Warwick and a BSc from the University of Wales .
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| University of Warwick | Masters Degree In Economics | Former |
| University of Wales | Bsc | Former |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
John Hatton is a Managing Director in the European Corporate group at Fitch Ratings in London. He is the Credit and Criteria Officer covering European and Asia for Corporates - a new role created in January 2008. Prior to this he was head of the European Corporate's Retail, Leisure and Consumer Products, Transport and Property teams. He has also been involved in many of the corporate and utility securitisations including the water transactions and the Eurotunnel debt repackagings. He has been instrumental in the close liaison between the agency's corporate and various structured finance teams. John has been co-author of Fitch's comments on bondholder documentation provisions including "Jumping the Queue - Ineffective European Bond Documentation Provisions" dated October 2003, "Change of Control - A Rating Agency Perspective" dated October 2006. Prior to joining Fitch in 1996, John worked for a foreign commercial bank for six years primarily lending through the syndication market to various UK corporates and LBO/MBOs.
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Vendormate | Managing Director of Corporate Finance Americas | Current |
| Fitch Ratings | Co-Head of the Corporate Finance Group | Current |
| Vendormate | Board of Directors | Current |
| Northwestern University | Master of Management | Former |
| Georgetown University | B.S. In International Economics | Former |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Managing Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Senior Director | Current |
Erwin van Lumich is a senior director with Fitch Ratings and the deputy head of the energy, utilities & regulation team for the Europe, Middle East and Africa region. Based in Barcelona , he oversees all aspects of the rating process for a wide range of issuers across the region and coordinates publication of research. Regions of analytical focus include Iberia , the Netherlands and markets that are still at a relatively early stage of development. Prior to joining Fitch in 2000, Erwin worked in London as ratings advisor in Deutsche Bank's global markets division. As part of this role, he guided European issuers, many of which in the energy sector, through the rating process and helped them resolve capital structuring issues. Prior to this, he was a corporate analyst at Standard & Poor's. Erwin is a Dutch national and holds an MBA in economics and management from SDA Bocconi in Milan . He also studied finance in Utrecht and London . Erwin is a CFA charterholder and is fluent in a number of European languages.
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Senior Director | Current |
Gregg Katz has been active in FSIX since 2002. In 2007, Gregg started planning FSIX events for Chicago. Currently Gregg is an Associate Director at Fitch Ratings in the structured credit group, where he has been for over three years. Gregg has a BS from New York University's Stern School of Business.
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Associate Director | Current |
| Derivative Fitch, Inc. | Associate Director | Current |
| Fsix | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Manager, Hr | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Director | Current |
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Director | Current |
| Organization | Position | Status |
|---|---|---|
| Eurocatalyst | Board of Directors | Current |
| Fitch Ratings | Board of Directors | Current |
Tim Ockenga is a director within the european insurance team of Fitch Ratings and has been with the agency since September 2004. Based in Frankfurt, he is responsible for managing Fitch's German-speaking primary analysis and ratings in Germany, Switzerland, and Austria. Moreover, Tim is the European insurance representative on Fitch's global hybrid products committee. Prior to joining Fitch, Tim spent two years working for the German state bank Westdeutsche Landesbank (WestLB). Tim graduated in economics from the Katholische Universitat Eichstadt-Ingolstadt (WFI) with a masters degree (Diplom-Kaufmann) in finance and controlling.
| Organization | Position | Status |
|---|---|---|
| Fitch Ratings | Director | Current |
Dr. Zhang is the director of Global Quantitative Finance Research at Fitch Ratings, leading the research in the area of credit derivative and structured products. He joined TCFA in 1999 and has since actively participated TCFA activities, including help organizing the 2004 and 2005 TCFA annual conferences and workshops; co-heading the TCFA company gift-matching and volunteer incentive program in the last 2 years. As the treasurer of TCFA, he sits on the TCFA Finance and Accounting committee since 2004. In this role he manages TCFA funds, prepares tax filing and maintains TCFA non-profit status with IRS. Ben has also been unofficial "post master" of TCFA. Going forward, Ben would like to contribute more towards building TCFA regular networking events for members, including blogs, online community and in-person events. Ben holds Ph.D. in Financial Economics from Duke University. Before Fitch, He works at Moody's KMV.
| Organization | Position | Status |
|---|---|---|
| China Finance, Inc. | Director, Fitch Ratings | Current |
| Internal Revenue Service | Current | |
| Fitch Ratings | Director | Current |
| Tcfa | Treasurer | Current |
| Chinese Finance | Board of Directors | Current |
| Duke University | Ph.D. In Financial Economics | Former |
Industry Transcripts by Seeking Alpha
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Discover Financial Services F1Q10 (Qtr End 02/28/10) Earnings Call Transcript
on Mar 16, 2010about DFS
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Integra Bank Corporation Q4 2009 Earnings Call Transcript
on Mar 05, 2010about IBNK
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Progressive Corporation Q4 2009 Earnings Call Transcript
on Mar 03, 2010about PGR
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VeriFone Holdings, Inc. F1Q10 (01/31/10) Earnings Call Transcript
on Mar 02, 2010about PAY
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Cowen Group Inc. Q4 2009 Earnings Call Transcript
on Mar 02, 2010about COWN
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