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Know Your Alternatives To Get Out From Debt
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Many people who file bankruptcy make the mistake of doing so without fully exploring their options, and never realize they have other, more viable choices that will allow them to preserve their credit standing. Know that you have options for getting out of debt, and explore them fully. The key is finding the right solution for you.
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How to Pay off Your Debt With Debt-snowball Method
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Nearly every financial adviser always advises that debts should be paid off in a particular order: from highest interest rate to lowest interest rate. While this method makes sense from a mathematical point of view, it makes less sense from a psychological point of view. Read this article to discover an alternative method.
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Brown Rudnick Prevails on Behalf of Creditors in Metabolife Chapter 11 Bankruptcy Proceedings
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Brown Rudnick, a premier international law firm, today announced that it has successfully reached a $56 million global settlement benefiting tort claimant creditors in connection with the Chapter 11 bankruptcy of Metabolife International, Inc. -- one of the nations largest manufacturers and distributors of ephedra-based food supplements prior to the FDAs early 2004 ban of ephedra products.
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Federated Announces Proposed Debt Offering
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Federated Department Stores, Inc. (NYSE:FD)(NYSE Arca:FD) today announced that it and its wholly owned subsidiary, Federated Retail Holdings, Inc., have filed a preliminary prospectus supplement with the Securities and Exchange Commission in connection with a proposed public offering of senior notes of Federated Retail Holdings.
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Can You Get Out From Debt?
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The first principle towards settling your debt and moving towards a debt-free existence is in prioritizing your debt. What you must hold on for now to and what you must clear immediately is the first step towards debt management. This article will give you some information guide on your debt management.
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Fitch Rates Dominion Resources New $400MM & $250MM Senior Notes 'BBB+'
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Fitch has assigned 'BBB+' ratings to the two new issues of senior unsecured notes of Dominion Resources, Inc. (Dominion). The issues consist of $250 million of 5.60% notes due Nov. 15, 2016 and $400 million of floating-rate notes due Nov. 14, 2008. The notes rank equally with all of Dominion's other senior unsecured indebtedness.
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Fitch Rates Sanger Public Fin Auth (CA) Lease Rev Rfdg Bnds 'BBB'
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Fitch Ratings assigns an initial rating of 'BBB' to $20.3 million Sanger Public Financing Authority, CA lease revenue refunding bonds (wastewater treatment facilities), series 2006A and series 2006B. The bonds are scheduled to sell competitively on Nov. 16, 2006. The Rating Outlook is Stable.
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Fitch Rates Onondaga County, New York's $35MM 2006A GOs 'AA+'; Outlook Stable
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Fitch Ratings assigns an 'AA+' rating to Onondaga County, NY's (the county) $35 million general obligation (serial) bonds, 2006 series A. The general obligation (GO) bonds are scheduled for competitive bids on Nov. 14, 2006, with Government Finance Associates and Fiscal Advisors serving as the county's co-financial advisors. Bond proceeds will finance various capital projects, including Onondaga Community College improvements.
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Fitch Affirms Banner Health (Arizona) Bonds at 'AA-'
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Fitch Ratings affirms the underlying 'AA-' rating on approximately $1.2 billion in outstanding revenue bonds issued on behalf of Arizona's Banner Health (BH). The outstanding issues affected are listed below. All bonds are insured by 'AAA' Fitch rated financial guarantors. The Rating Outlook is Stable.
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DURA Automotive’s U.S. and Canadian Operations File for Chapter 11 Reorganization
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DURA Automotive Systems, Inc. (Nasdaq:DRRA), announced today that the company and its U.S. and Canadian subsidiaries have filed for protection under Chapter 11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy Court for the District of Delaware. DURA's European and other operations outside of the U.S. and Canada, accounting for approximately 51% of DURA's revenue, are not part of the filing.
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Fitch Rates Duke Energy Field Services' $300MM Notes 'BBB'; Outlook Stable
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Fitch rates Duke Energy Field Services, LLC's (DEFS) $300 million 6.45% notes due 2036 'BBB'. Note proceeds will be used to refund maturing debt. The Rating Outlook is Stable.
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Fitch Acad. Advisory Board: Effects of Diminishing Liquidity, CDO Evaluation & Basel II Guidelines
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The Fitch Academic Advisory Board (FAAB) concluded its inaugural meeting as senior executives and analysts from Fitch Group met with leading academics, bridging relevant academic research with case studies in evaluating risk in the financial markets.
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U.S. Bankruptcy Court Ruling Blocks Job Actions by Mesaba Airlines’ Workers
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Mesaba Airlines, a subsidiary company of MAIR Holdings (NASDAQ:MAIR), said today that the Honorable Gregory Kishel of the United States Bankruptcy Court for the District of Minnesota granted the companys request for a preliminary injunction to prevent a threatened strike or work action by the companys flight attendants, represented by the Association of Flight Attendants (AFA), pilots, represented by the Airline Pilots Association (ALPA) and/or mechanics, represented by the Aircraft Mechanics
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Dura Automotive Systems Third Largest Bankruptcy Filing of 2006, According to BankruptcyData.com
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With total assets of $2,057,209,000 (as reported on its latest Form 10-K), Dura Automotive Systems, Inc. (DRRA) became the third largest company to file for bankruptcy in 2006, according to www.BankruptcyData.com, a Boston-based website published by New Generation Research, Inc. Duras October 30th bankruptcy filing also represents the seventh largest automotive parts manufacturer filing of all time.
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Bankruptcy Court Approves Home Director, Inc.’s Plan of Reorganization
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Home Director, Inc., an innovator of home entertainment technology, announced today that Judge Edward D. Jellen of the United States Bankruptcy Court for the Northern District of California approved the companys Second Amended Joint Plan of Reorganization, by order entered on October 12, 2006. As a result of this approval, Home Director emerged from bankruptcy effective October 23, 2006.
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Foamex Files Amended Plan of Reorganization and Disclosure Statement
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Foamex International Inc. (FMXIQ) announced today that the Company and certain of its subsidiaries (together with its primary operating subsidiary, Foamex L.P., and the other Foamex entities that are chapter 11 debtors, collectively, the Company) have filed their First Amended Plan of Reorganization (the Amended Plan) and related amended Disclosure Statement (the Disclosure Statement) with the U.S. Bankruptcy Court for the District of Delaware.
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Fitch Upgrades East Coast Power LLC
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Fitch Ratings has upgraded the rating of East Coast Power LLC's series B $850 million ($352.9 million outstanding) senior secured notes due 2008, 2012 and 2017 from 'BBB-' to 'BBB'. The Rating Watch Positive status has been removed. Coverage ratios are improved over earlier projections due to reduced leverage from the retirement earlier this year of structurally senior subsidiary debt, reducing debt service by $70.3 million through 2007.
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Fitch Rates Brookfield Power's C$350MM Unsecured Debentures 'BBB'; Outlook Stable
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Fitch rates Brookfield Power Corporation's issuance of C$200 million 5.25% Unsecured Debentures, Series 3 due November 5, 2018 and C$150 million 5.84% Unsecured Debentures, Series 4 due November 5, 2036 (collectively, the Debentures) 'BBB'. The Debentures are unconditionally guaranteed by Brookfield Power Inc. (BPI). The Ratings Outlook for BPI is Stable. Proceeds from the offering will be used to retire debt and for general corporate purposes.
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Fitch Places Bombardier's Ratings on Rating Watch Negative
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Fitch Ratings has placed the debt and Issuer Default Ratings (IDR) for both Bombardier Inc. (BI) and Bombardier Capital Inc. (BC) on Rating Watch Negative. The existing ratings are listed below:
Bombardier Inc.
--IDR 'BB';
--Senior unsecured debt 'BB';
--Bank facilities 'BB';
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Fitch Assigns 75% Equity Credit to FPL Group Capital Enhanced Hybrid Notes
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Based upon Fitch's new hybrid rating criteria published on Sept. 27, 2006, Fitch has assigned the FPL Group Capital Enhanced Junior Subordinated Debentures due Oct. 1, 2066 (Debentures) to class D and will allocate 75% of the principal to adjusted equity and 25% to adjusted debt in evaluating the financial leverage of FPL Group Capital.
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Fitch: U.S. Energy Industry Remains Strong Despite Weaker Commodity Prices
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Fitch Ratings continues to maintain a positive view on the U.S. energy industry even as crude and natural gas prices pull back from second-quarter levels, as discussed in its quarterly 'Oil & Gas Insights' available on Fitch's web site. Slowing demand growth coupled with a lack of hurricanes in the Gulf of Mexico have enabled storage levels for both oil and natural gas to reach robust levels, pressuring near-term prices.
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