Fitch Downgrades Nacogdoches County Hospital District, TX Sales Tax Rev Bds to ‘A-’; Stable Outlook
AUSTIN, Texas–(BUSINESS WIRE)–As part of its routine surveillance efforts, Fitch Ratings has taken the following rating actions on Nacogdoches County Hospital District, TX’s bonds: –$12.5 million sales tax refunding bonds, series 2005, downgraded to ‘A-’ from ‘A+’; –$6.9 million sales tax refunding bonds, series 2006, downgraded to ‘A-’ from ‘A+’; –Implied unlimited tax general obligation rating of the district assigned at ‘A’. The Rating Outlook is Stable. SECURITY The bonds are special li
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Fitch Downgrades Nacogdoches County Hospital District, TX Sales Tax Rev Bds to ‘A-’; Stable Outlook
Guy Miller Struve, Esquire, to Receive 2011 American Inns of Court Professionalism Award for the Second Circuit
ALEXANDRIA, Va.–(BUSINESS WIRE)–The American Inns of Court Professionalism Awards are awarded each year, on a federal circuit basis, to a lawyer whose life and practice display sterling character and unquestioned integrity.
Fitch Affirms Nevada University and Community College System, NV Lease Revs at ‘A-’; Outlook Stable
NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed the rating on the following Nevada University and Community College System, Nevada bonds, as part of its continuous surveillance effort: –$6.5 million taxable lease revenue bonds, series 2002 at ‘A-’. The Rating Outlook is Stable. SECURITY The bonds constitute special, limited obligations of the University and Community College System of Nevada, also known as the Nevada System of Higher Education (the system), payable solely from and secured
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Fitch Affirms Nevada University and Community College System, NV Lease Revs at ‘A-’; Outlook Stable
Fitch Assigns Initial ‘AA-/F1+’ Ratings to J.P. Morgan Securities LLC
NEW YORK–(BUSINESS WIRE)–Fitch Ratings assigned an initial ‘AA-’ long-term Issuer Default Eating (IDR) and ‘F1+’ short-term IDR to J.P. Morgan Securities LLC (JPMS). JPMS is a wholly-owned subsidiary of JPMorgan Chase & Co. (JPM; rated ‘AA-/F1+’ by Fitch). The Rating Outlook is Stable. This is the first time Fitch has rated JPMS. See the full list of ratings at the end of this release. The alignment of JPMS’ ‘AA-/F1+’ long- and short-term IDRs with JPM’s ratings reflect Fitch’s view that J
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Fitch Assigns Initial ‘AA-/F1+’ Ratings to J.P. Morgan Securities LLC
Fitch Affirms SLM Student Loan Trust Series 2003-2
NEW YORK–(BUSINESS WIRE)–Fitch Ratings affirms the senior notes at ‘AAAsf’ and the subordinate student loan note at ‘BBsf’ issued by SLM Student Loan Trust series 2003-2. The Rating Outlook remains Stable for both the senior and subordinate bonds. A full ratings list is shown below. The ratings on the senior and subordinate notes are affirmed based on the sufficient level of credit enhancement to cover the applicable basis factor stress. Credit enhancement for class B consists of projected exc
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Fitch Affirms SLM Student Loan Trust Series 2003-2
Fitch Completes U.S. Tobacco Portfolio Review
NEW YORK–(BUSINESS WIRE)–Fitch Ratings has completed its review of its tobacco portfolio, incorporating the amount of Master Settlement Agreement (MSA) payments received by each trust in 2011, and taken various rating actions. For 2011, the aggregate MSA payment was 5% lower than the amount in 2010. This drop was driven by a large decline in tobacco consumption as well as an increase in the disputed payments not being released to the states. As a result, downgrades were taken on a number of tu
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Fitch Completes U.S. Tobacco Portfolio Review
Fitch Upgrades PNCMAC 1999-CM1
NEW YORK–(BUSINESS WIRE)–Fitch Ratings upgrades PNC Mortgage Acceptance Corp. (PNCMAC 1999-CM1) commercial mortgage pass-through certificates, series 1999-CM1. A list of the ratings follows at the end of this press release. The upgrade reflects sufficient credit enhancement to offset Fitch expected losses from specially serviced loans and adverse selection due to increasing concentrations as a result of payoffs. As of the July 2011 remittance report, the transaction has paid down 95.8% to $32.
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Fitch Upgrades PNCMAC 1999-CM1
Fitch Takes Various Rating Actions on 6 U.S. RMBS RE-REMICs
NEW YORK–(BUSINESS WIRE)–Fitch Ratings has taken various actions on six U.S. residential mortgage backed securities (RMBS) resecuritization trusts (Re-REMICs) as a part of Fitch’s continued surveillance. The affected trusts represent a beneficial ownership interest in separate trust funds. A spreadsheet detailing Fitch’s rating actions on the affected transactions can be found using the web link below for ‘U.S RMBS Re-REMIC Rating Actions for July 29, 2011′. The Re-REMIC transactions were orig
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Fitch Takes Various Rating Actions on 6 U.S. RMBS RE-REMICs
Fitch Affirms SLM Student Loan Trust Series 2003-5
NEW YORK–(BUSINESS WIRE)–Fitch Ratings affirms the senior notes at ‘AAAsf’ and subordinate student loan note at ‘BBsf’ issued by SLM Student Loan Trust series 2003-5. The Rating Outlook remains Stable for both the senior and subordinate bonds. A full ratings list is shown below. The ratings on the senior and subordinate notes are affirmed based on the sufficient level of credit enhancement to cover the applicable basis factor stress. Credit enhancement for class B consists of projected excess
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Fitch Affirms SLM Student Loan Trust Series 2003-5
Fitch Affirms Ratings on Capital One Multi-asset Execution Trust; Revises Outlook on Sub Notes
NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed all classes of Capital One Multi-asset Execution Trust and revised the Outlook on the class B, C and D notes to Stable from Negative as a result of positive performance trends, as follows: — 2004-1A at ‘AAAsf’; Outlook Stable; — 2004-4A at ‘AAAsf’; Outlook Stable; — 2004-7A at ‘AAAsf’; Outlook Stable; — 2004-8A at ‘AAAsf’; Outlook Stable; — 2005-1A at ‘AAAsf’; Outlook Stable; — 2005-6A at ‘AAAsf’; Outlook Stable; — 2005-7A at ‘AAAsf’;
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Fitch Affirms Ratings on Capital One Multi-asset Execution Trust; Revises Outlook on Sub Notes
