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Fitch Lowers Avis' L-T IDR to 'BB-'; Placed on Watch Negative: NEW YORK -- Fitch Ratings has downgraded Avis Budget Car Rental LLC's ABC Issuer Default Ratings IDRs and outstanding debt ratings as follows and placed them on Rating Watch Negative: Avis Budget Car Rental, LLC --Long-term IDR to 'BB-' from 'BB'; --Senior secured debt to 'BB+' from...; Tags: ABC Inc., Avis Rent A Car System Inc., covenant, EBITDA, FINANCE, Fitch, Investment; Research articles 2008-10-28
Fitch Downgrades Allstate Corp. & Subsidiaries; Outlook Negative: CHICAGO -- Fitch Ratings has taken the following rating actions on The Allstate Corporation Allstate: -- Issuer Default Rating IDR downgraded to 'A+' from 'AA-'. -- Senior debt downgraded to 'A' from 'A+'; -- Trust preferred rating downgraded to 'A-' from 'A'; -- Commercial paper was...; Tags: Allstate Corp., FINANCE, Fitch, Insurance; Research articles 2008-10-27
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...; Tags: Better Business Bureau, Fidelity Investments, Fidelity National Financial Inc., Fitch; Research articles 2008-10-24
Fitch Affirms Bear Stearns 2007-TOP26; Assigns Outlooks: NEW YORK -- Fitch Ratings has affirmed and assigned Rating Outlooks to Bear Stearns Commercial Mortgage Securities Trust's commercial mortgage pass-through certificates, series 2007-TOP26 as follows: --$58.9 million class A-1 at 'AAA'; Outlook Stable; --$177 million class A-2 'AAA'; Outlook Stable; --$65.4 million class A-3 at 'AAA';...; Tags: Bear Stearns & Co. Inc., Fitch, Groupware, issuance, SOFTWARE; Research articles 2008-10-23
Fitch President & CEO Steve Joynt to Testify Before U.S. House Committee: NEW YORK -- Fitch Ratings President and Chief Executive Officer Stephen W. Joynt will testify today during a hearing on 'Credit Rating Agencies and the Financial Crisis' before the U.S. House of Representatives Committee on Oversight and Government Reform. A copy of Mr. Joynt's prepared statement is available at...; Tags: Fitch, U.S. House of Representatives; Research articles 2008-10-22

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...; Tags: Better Business Bureau, FINANCE, Fitch, H&R Block Inc., Investment, Taxes; Research articles 2008-10-22
Fitch Removes Point-in-Time Ratings on Tradeable Credit Baskets: NEW YORK -- Fitch Ratings has removed from its web site the point-in-time ratings on 26 tradeable credit baskets. Tradeable Credit Baskets, which reference various credit derivative CDS indices, are rated by Fitch applying its bond fund rating criteria. The removal of these ratings is consistent with Fitch's practice...; Tags: Dow Jones & Company Inc., Fitch, INTERNET; Research articles 2008-10-21
Fitch Comments On U.S. Government Programs to Stabilize & Strengthen Banks: CHICAGO & NEW YORK -- Fitch views the recent steps taken by the U.S. government to aid in the return to stability for broad capital markets and financial institutions as very positive in terms of addressing investor concern and confidence. The programs provide banks with immediate access to new tools...; Tags: bank, Fitch, U.S. Government; Research articles 2008-10-20
Fitch Rates Santee Cooper's $500MM 2008 Bonds 'AA': NEW YORK -- Fitch Ratings has assigned 'AA' ratings to the following tax exempt and taxable revenue obligation bonds for South Carolina Public Service Authority Santee Cooper: --$300 million tax exempt bonds, 2008 series A; --$200 million taxable bonds, 2008 series B. The bonds are expected to...; Tags: bond, Cooper, FINANCE, Fitch, Investment, liquidity, revenue, tax; Research articles 2008-10-20
Fitch Affirms JP Morgan Chase Capital 1 Trust Series 2007-CIBC20; Assigns Outlooks: NEW YORK -- Fitch Ratings affirms and assigns Outlooks to JP Morgan Chase Capital 1 Trust series 2007-CIBC20 commercial mortgage pass-through certificates as follows: --$24.8 million class A-1 at 'AAA'; Outlook Stable; --$105.1 million class A-2 at 'AAA'; Outlook Stable; --$208.6 million class A-3 at 'AAA'; Outlook...; Tags: Fitch, Groupware, J.P. Morgan Chase & Co., SOFTWARE; Research articles 2008-10-17
Fitch Downgrades American Axle to 'B'; Outlook Negative: CHICAGO -- Fitch Ratings has downgraded the Issuer Default Rating IDR of American Axle to 'B' from 'B+' and the company's unsecured debt to 'B/RR4' from 'B+/RR4'. The rating action reflects further deterioration in production volumes of American Axle's key GM platform resulting from accelerated production shutdowns and the deepening...; Tags: deterioration, FINANCE, Fitch, General Motors Corp., leasing, Manufacturing; Research articles 2008-10-17
Fitch Comments on Equity Credit for U.S. Treasury Preferred Instruments: CHICAGO -- Fitch Ratings is actively assessing the appropriate equity credit for preferred instruments issued by U.S. banks to the U.S. Department of Treasury Treasury as part of the Troubled Asset Relief Program TARP as authorized by the Emergency Economic Stabilization Act of 2008. Based on Fitch's initial view,...; Tags: equity, FINANCE, Fitch, Investment, Treasury, U.S. Department of Treasury; Research articles 2008-10-17
Fitch Downgrades 1 Class from 1 JPMMT Resecuritization Transaction: NEW YORK -- Fitch Ratings has taken the following rating action on J.P. Morgan Mortgage Trust JPMMT certificates. The class represents a beneficial ownership interest in separate trust funds, which include bonds that have been downgraded. J.P. Morgan Residential Mortgage Acceptance Corp, MBS Series 2002-R2 --1B3 downgraded from...; Tags: bond, FINANCE, Fitch, Investment, J.P. Morgan Chase & Co.; Research articles 2008-10-16
Fitch Takes Rating Actions on Muni Bonds backed by Morgan Stanley & Morgan Stanley Bank, N.A: NEW YORK -- In conjunction with the recent downgrades on the long- and short-term Issuer Default Ratings IDRs of Morgan Stanley and Morgan Stanley Bank, N.A., Fitch Ratings has taken various rating actions on municipal bonds with liquidity facilities and letters of credit LOCs by Morgan Stanley and Morgan Stanley...; Tags: bank, FINANCE, Fitch, Investment, Morgan Stanley; Research articles 2008-10-16
Fitch Affirms Bear Stearns 2007-TOP28; Assigns Outlooks: CHICAGO -- Fitch Ratings has affirmed all classes of notes for Bear Stearns Commercial Mortgage Securities Trust's commercial mortgage pass-through certificates, series 2007-TOP28, and assigned Rating Outlooks as outlined below: --$73.5 million class A-1 at 'AAA'; Outlook Stable; --$63.2 million class A-2 'AAA'; Outlook Stable; --$79.8 million...; Tags: Bear Stearns & Co. Inc., Fitch, Groupware, SOFTWARE; Research articles 2008-10-16
Fitch Affirms Morgan Stanley Capital 1 Trust Series 2007-IQ16; Assigns Outlooks: NEW YORK -- Fitch Ratings affirms and assigns Outlooks to Morgan Stanley Capital 1 Trust series 2007-IQ16 commercial mortgage pass-through certificates as follows: --$48.4 million class A-1 at 'AAA'; Outlook Stable; --$314.2 million class A-1A at 'AAA'; Outlook Stable; --$91.1 million class A-2 at 'AAA'; Outlook Stable;...; Tags: Fitch, Groupware, Morgan Stanley, SOFTWARE; Research articles 2008-10-16
Fitch Affirms Morgan Stanley Capital 1 Trust 2007-IQ13: NEW YORK -- Fitch Ratings affirms and assigns Outlooks to the Morgan Stanley Capital 1 Trust series 2007-IQ13 commercial mortgage pass-through certificates as follows: --$36.7 million class A-1 at 'AAA'; Outlook Stable; --$474.6 million class A-1A at 'AAA'; Outlook Stable; --$114.8 million class A-2 at 'AAA'; Outlook...; Tags: Fitch, Groupware, Morgan Stanley, SOFTWARE; Research articles 2008-10-15
Fitch Affirms Morgan Stanley Capital 1 Trust Series 2007-HQ12; Assigns Outlooks: NEW YORK -- Fitch Ratings affirms and assigns Outlooks to Morgan Stanley Capital 1 Trust series 2007-HQ12 commercial mortgage pass-through certificates as follows: --$38.1 million class A-1 at 'AAA'; Outlook Stable; --$364.9 million class A-1A at 'AAA'; Outlook Stable; --$289.1 million class A-2 at 'AAA'; Outlook Stable;...; Tags: Fitch, Groupware, Morgan Stanley, SOFTWARE; Research articles 2008-10-15
Fitch Believes Future Impairments May Overshadow New Fair Value Guidance for U.S. Life Insurers: NEW YORK -- Recently, the SEC and FASB issued a joint statement (1) 'clarifying' guidance on mark-to-market rules for valuing balance sheet assets in the current market environment. The new guidance essentially gives management discretion to use their own estimates (Level 3 in the fair value hierarchy (2)) in those...; Tags: FINANCE, Financial Accounting Standards Board, Fitch, GAAP, impairment, Insurance, SECURITY, valuation; Research articles 2008-10-14
Fitch Upgrades 1 Class from J.P. Morgan 1999-C7; Assigns Outlooks: CHICAGO -- Fitch Ratings upgrades and assigns Ratings Outlooks to J.P. Morgan Commercial Mortgage Finance Corp.'s mortgage pass-through certificates, series 1999-C7, as follows: --$38.1 million class F to 'AA+' from 'AA'; Outlook Positive. Additionally, Fitch affirms and assigns Ratings Outlooks to the following classes: --Interest-only class X...; Tags: Fitch, Groupware, J.P. Morgan Chase & Co., SOFTWARE; Research articles 2008-10-14