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Fitch Rates Anchorage, Alaska's $50MM Water Rev Refunding Bonds 'AA-'; Affirms Outstanding Bonds
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2009-11-20 |
Fitch Rates Anchorage, Alaska's $##MM Water Rev Refunding Bonds 'AA-'; Affirms Outstanding Bonds ## Nov #### ##:## AM (EST) Fitch Ratings-San Francisco-## November ####: Fitch Ratings assigns an 'AA-' rating to the Municipality of Anchorage,... |
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| Fitch Downgrades 3 and Affirms 3 Classes of Vertical ABS CDO 2006-2, Ltd./Corp.
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2009-11-20 |
Fitch Downgrades # and Affirms # Classes of Vertical ABS CDO ####-#, Ltd./Corp. ## Nov #### ##:## PM (EST) Fitch Ratings-Chicago-## November ####: Fitch Ratings has downgraded three and affirmed three classes of notes issued by Vertical... |
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| Fitch Affirms JohnsonDiversey's Ratings; Outlook Positive
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2009-11-20 |
Fitch Affirms JohnsonDiversey's Ratings; Outlook Positive ## Nov #### ##:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has affirmed all ratings for JohnsonDiversey, Inc. (JohnsonDiversey) and its holding company... |
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| Fitch Publishes U.S. CMBS Focus Report on COMM 2006-C7
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2009-11-20 |
Fitch Publishes U.S. CMBS Focus Report on COMM ####-C# ## Nov #### ##:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has published its U.S. CMBS Focus Performance Report on the COMM ####-C# Mortgage Trust. The report... |
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| Fitch Affirms Union Hospital (Affinity Health Alliance), MD Hosp Rev Bonds at 'A'; Outlook Stable
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2009-11-20 |
Fitch Affirms Union Hospital (Affinity Health Alliance), MD Hosp Rev Bonds at 'A'; Outlook Stable ## Nov #### ##:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has affirmed the 'A' rating on the approximately $##.#... |
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| Fitch Affirms Grupo Mexico, Southern Copper & Americas Mining on Asarco Ruling
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2009-11-20 |
Fitch Affirms Grupo Mexico, Southern Copper & Americas Mining on Asarco Ruling ## Nov #### ##:## PM (EST) Fitch Ratings-Chicago/Monterrey-## November ####: Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) and outstanding... |
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| Fitch confirma en A(uy) a las ONs de Puerta del Sur
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2009-11-20 |
Fitch confirma en A(uy) a las ONs de Puerta del Sur ## Nov #### ##:## PM (EST) Fitch Ratings-Buenos Aires-## November ####: Fitch Uruguay confirmo en la Categoria A(uy) a las Obligaciones Negociables (ONs) por US$ ## MM de Puerta del... |
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| Fitch Rates Ivy Tech Community College of Indiana $89.8MM Student Fee Revs 'AA-'; Outlook Stable
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2009-11-20 |
Fitch Rates Ivy Tech Community College of Indiana $##.#MM Student Fee Revs 'AA-'; Outlook Stable ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns an 'AA-' rating to the $##,###,### Trustees of... |
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| Fitch Affirms Indian Health Council's (California) 1999 COPs at 'BBB-'; Outlook Stable
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2009-11-20 |
Fitch Affirms Indian Health Council's (California) #### COPs at 'BBB-'; Outlook Stable ## Nov #### #:## PM (EST) Fitch Ratings-San Francisco-## November ####: Fitch Ratings has affirmed the 'BBB-' rating on approximately $#,###,### outstanding... |
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| Fitch Downgrades Abacus 2007-18; Removes from Watch Negative
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2009-11-20 |
Fitch Downgrades Abacus ####-##; Removes from Watch Negative ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has downgraded and removed from Rating Watch Negative five classes issued by Abacus ####-##... |
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| Fitch Rates India's Gajanan Industries 'B+(ind)'/'F4(ind)'
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2009-11-20 |
Fitch Rates India's Gajanan Industries 'B+(ind)'/'F#(ind)' ## Nov #### ##:## AM (EST) Fitch Ratings-Chennai/Mumbai/Singapore-## November ####: Fitch Ratings has today assigned India's Gajanan Industries (GI) a National Long-term rating... |
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| Fitch Rates India's Gajanan Agro 'BB-(ind)'/'F4(ind)'
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2009-11-20 |
Fitch Rates India's Gajanan Agro 'BB-(ind)'/'F#(ind)' ## Nov #### ##:## AM (EST) Fitch Ratings-Chennai/Mumbai/Singapore-## November ####: Fitch Ratings has today assigned India's Gajanan Agro Mills Pvt Ltd (GAMPL) a National Long-term... |
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| Fitch Downgrades PYME Valencia 1 FTA; off RWN
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2009-11-20 |
Fitch Downgrades PYME Valencia # FTA; off RWN ## Nov #### ##:## AM (EST) Fitch Ratings-London/Madrid-## November ####: Fitch Ratings has today downgraded PYME Valencia #, FTA and removed them from Rating Watch Negative (RWN). EUR###,###,###... |
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| Fitch Downgrades Acea to 'A'; off RWN; Outlook Negative
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2009-11-20 |
Fitch Downgrades Acea to 'A'; off RWN; Outlook Negative ## Nov #### ##:## AM (EST) Fitch Ratings-Milan/Barcelona/London-## November ####: Fitch Ratings has today downgraded Acea SpA's (Acea) Long-term Issuer Default Rating (IDR) to 'A'... |
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| Fitch Affirms Deutsche Bahn AG at 'AA'/'F1+'; Stable Outlook
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2009-11-20 |
Fitch Affirms Deutsche Bahn AG at 'AA'/'F#+'; Stable Outlook ## Nov #### ##:## AM (EST) Fitch Ratings-Milan/London/Paris-## November ####: Fitch Ratings has today affirmed Deutsche Bahn AG's (DB) Long-term Issuer Default Rating (IDR)... |
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| Fitch Affirms Three Pillars, Wisconsin's Rev Bonds at 'A-'; Outlook Stable
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2009-11-20 |
Fitch Affirms Three Pillars, Wisconsin's Rev Bonds at 'A-'; Outlook Stable ## Nov #### ##:## AM (EST) Fitch Ratings-Chicago-## November ####: Fitch Ratings affirms the 'A-' rating and underlying rating on approximately $## million Wisconsin... |
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| Fitch Affirms Friendship Village of Dublin, Ohio at 'A-'; Outlook Stable
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2009-11-20 |
Fitch Affirms Friendship Village of Dublin, Ohio at 'A-'; Outlook Stable ## Nov #### ##:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has affirmed the 'A-' underlying rating on approximately $##.# million Franklin... |
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| Fitch: Effective Disclosure Practices Reflect Strong SHFA Programs
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2009-11-20 |
Fitch: Effective Disclosure Practices Reflect Strong SHFA Programs ## Nov #### ##:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings says effective disclosure practices implemented by state housing finance agencies (SHFAs)... |
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| Amendment: Fitch Takes Rating Actions on 8 Moscow-Based Banks
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2009-11-20 |
Amendment: Fitch Takes Rating Actions on # Moscow-Based Banks ## Nov #### ##:## AM (EST) Fitch Ratings-London/Moscow-## November ####: This announcement amends the version issued earlier today to clarify that all ratings of CFC Bank... |
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| Fitch Rates Asbury Maryland Obligated Group's (MD) 2009A&B Revs 'BBB-'; Affirms Outstanding
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2009-11-20 |
Fitch Rates Asbury Maryland Obligated Group's (MD) ####A&B Revs 'BBB-'; Affirms Outstanding ## Nov #### ##:## AM (EST) Fitch Ratings-Chicago-## November ####: Fitch Ratings has assigned an unenhanced 'BBB-' rating on approximately $##.#... |
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| Fitch Rates Spain's Caja Segovia Guaranteed Notes 'AAA'
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2009-11-20 |
Fitch Rates Spain's Caja Segovia Guaranteed Notes 'AAA' ## Nov #### ##:## AM (EST) Fitch Ratings-Barcelona/London-## November ####: Fitch Ratings has today assigned Caja de Ahorros y Monte de Piedad de Segovia's (Caja Segovia) EUR##m... |
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| Fitch Rates Forsyth County, North Carolina's LOBs 'AA+'; Outlook Stable
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2009-11-20 |
Fitch Rates Forsyth County, North Carolina's LOBs 'AA+'; Outlook Stable ## Nov #### ##:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has assigned an 'AA+' rating to Forsyth County, North Carolina's (the county) estimated... |
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| Fitch Rates PSE&G Secured MTNs 'A'
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2009-11-20 |
Fitch Rates PSE&G Secured MTNs 'A' ## Nov #### ##:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has assigned an 'A' rating to Public Service Electric and Gas Co.'s (PSE&G) $### million issue of #.###% secured medium-term... |
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| Fitch ratifica la calificacion del Municipio de Nogales, Son., la perspectiva crediticia es estable
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2009-11-20 |
Fitch ratifica la calificacion del Municipio de Nogales, Son., la perspectiva crediticia es estable ## Nov #### ##:## AM (EST) Fitch Ratings-Monterrey-## November ####: Fitch Ratings ratifico la calificacion de BBB+(mex) 'Triple B mas,... |
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| Fitch Rates Alaska Municipal Bond Bank GOs 'AA-'; Outlook Stable
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2009-11-20 |
Fitch Rates Alaska Municipal Bond Bank GOs 'AA-'; Outlook Stable ## Nov #### ##:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns an 'AA-' rating to $##.## million in Alaska Municipal Bond Bank (AMBB) general... |
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| Fitch Takes Rating Actions on Four Jubilee and Wood Street CLOs
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2009-11-20 |
Fitch Takes Rating Actions on Four Jubilee and Wood Street CLOs ## Nov #### ##:## AM (EST) Fitch Ratings-London-## November ####: Fitch Ratings has today taken various rating actions on four collateralised loan obligations (CLOs) of... |
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| Fitch Downgrades and Withdraws the Ratings on Tigris CDO 2007-1, Ltd./LLC.
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2009-11-20 |
Fitch Downgrades and Withdraws the Ratings on Tigris CDO ####-#, Ltd./LLC. ## Nov #### ##:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has downgraded and withdrawn the ratings of seven classes of notes issued by... |
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| Fitch Assigns Spain's FROB First Bond Final 'AAA' Rating
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2009-11-20 |
Fitch Assigns Spain's FROB First Bond Final 'AAA' Rating ## Nov #### ##:## AM (EST) Fitch Ratings-Barcelona/London-## November ####: Fitch Ratings has today assigned Fondo de Reestructuracion Ordenada Bancaria's (FROB) first bond issue,... |
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| Fondo de Reestructuración Ordenada Bancaria
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2009-11-20 |
...Fitch Ratings has assigned the first issue by the Fondo de Reestructuración Ordenada Bancaria (Fund for Orderly Bank Restructuring; FROB) a Local Currency LongTerm Rating of `AAA'....
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| Skipton Building Society
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2009-11-20 |
...Skipton Building Society's (Skipton) LongTerm and ShortTerm IDRs and Individual Rating reflect its adequate asset quality and capitalisation, as well as its sound funding and liquidity management. The ratings also consider the risks in managing a diverse portfolio of individual subsidiary businesses, many of which are correlated to the UK housing market....
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| Skipton Building Society
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2009-11-20 |
...Skipton Building Society's (Skipton) LongTerm and ShortTerm IDRs and Individual Rating reflect its adequate asset quality and capitalisation, as well as its sound funding and liquidity management. The ratings also consider the risks in managing a diverse portfolio of individual subsidiary businesses, many of which are correlated to the UK housing market....
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| Landesbank Saar
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2009-11-20 |
...The Issuer Default Ratings and Support Ratings of Landesbank Saar (SaarLB) reflect the support it would receive from its majority owner, Bayerische Landesbank (BayernLB; LongTerm IDR `A+'/Rating Watch Negative), if needed....
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| Landesbank Saar
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2009-11-20 |
...The Issuer Default Ratings and Support Ratings of Landesbank Saar (SaarLB) reflect the support it would receive from its majority owner, Bayerische Landesbank (BayernLB; LongTerm IDR `A+'/Rating Watch Negative), if needed....
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| William Beaumont Hospital Obligated Group (City of Royal Oak Hospital Finance Authority, MI) - hosp rev bnds ser 2009W
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2009-11-20 |
...Since #### William Beaumont Hospital Obligated Group's (Beaumont) has experienced an erosion of its operating profitability due to a rising percentage of governmental payors and a decline in managed care/commercial volumes. In the nine month interim period ended Sept. ##, #### management has successfully implemented over $### million of cost containment initiatives that have resulted in improved operating profitability as compared to ####. Beaumont's reputational and clinical excellence has been a primary factor in volume growth and market share gains. The Royal Oak Hospital is consistently named a "Top Hospital" by U.S. News & World Report and in public opinion polls. Within its defined service area, Beaumont increased its leading market share to ##.#% in #### and has experienced the highest market share increase among all competitors since ####....
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| GS Mortgage Securities Corporation II, Series 2007-GG10 - U.S. CMBS Focus Performance Report
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2009-11-20 |
...This report summarizes key credit characteristics of the GS Mortgage Securities Corporation II (GSMSC), series ####-GG##, transaction, following Fitch Ratings' most recent full transaction review conducted in July ####. Further, the report has been updated to reflect the most recently reported performance information available through the Oct. ##, #### remittance date. Projected term and maturity losses referred to herein are a reflection of Fitch's modeled treatment of the loans, which is prospective in nature and incorporates assumptions indicative of the current stressed market environment. These assumptions include modeled refinance tests, peak-to- trough cash flow declines, and market value declines relative to issuance. ·The transaction has higher than average Fitch-modeled losses and potential losses relative to its vintage, at #.#% and ##.#%, respectively. Fitch's weighted average recognized and potential losses for the #### vintage are #.#% and #.#%, respectively. ·Specially serviced...
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| Absa Group Limited
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2009-11-20 |
...The LongTerm Foreign and Local Currency IDRs of Absa Group Limited (Absa) and its main subsidiary Absa Bank reflect majority ownership by Barclays Bank Plc (Barclays; `AA'). The Individual Rating reflects Absa's significantly higher impairment charges and weakening assetquality indicators....
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| Absa Group Limited
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2009-11-20 |
...The LongTerm Foreign and Local Currency IDRs of Absa Group Limited (Absa) and its main subsidiary Absa Bank reflect majority ownership by Barclays Bank Plc (Barclays; `AA'). The Individual Rating reflects Absa's significantly higher impairment charges and weakening assetquality indicators....
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| Puerta del Sur S.A.
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2009-11-20 |
...La calificación asignada refleja la fortaleza crediticia del emisor, cuyo contrato de concesión exclusivo para operar el Aeropuerto Internacional de Carrasco (AIC) por ## años le otorga ingresos cautivos provenientes de las tasas que se cobran por los servicios aeronáuticos. La calificación contempla la importancia del activo operado a través de un monopolio regulado. Asimismo, se considera positivamente la experiencia del grupo controlante en la administración de aeropuertos, y la importancia estratégica de PDS para el grupo. Los fondos provenientes de la emisión se destinaron a la construcción de la nueva terminal del aeropuerto, de acuerdo a lo establecido en el Contrato de Gestión Integral. El monto total de la obra ha sido de US$ ### MM, contra los US$ ###.# MM originalmente previstos, debido a la existencia de sobre-costos y a mejoras realizadas al proyecto original. Para financiar esta diferencia PDS recurrió a nuevo endeudamiento bancario de largo plazo, en el orden de los US$ ##...
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| Fitch Affirms Caterpillar India Private Ltd's Bank Loan Rtgs at 'AAA(ind)'/'F1+(ind)'; O/look Stable
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2009-11-20 |
Fitch Affirms Caterpillar India Private Ltd's Bank Loan Rtgs at 'AAA(ind)'/'F#+(ind)'; O/look Stable ## Nov #### #:## AM (EST) Fitch Ratings-Mumbai/Singapore-## November ####: Fitch Ratings has today affirmed Caterpillar India Private... |
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| Fitch Affirms Bon-Ton's IDR at 'B-'; Outlook to Stable from Negative
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2009-11-20 |
Fitch Affirms Bon-Ton's IDR at 'B-'; Outlook to Stable from Negative ## Nov #### #:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has affirmed the following ratings for Bon-Ton and revised the Rating Outlook to Stable... |
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| Fitch Affirms Empresa de Energia de Bogota's IDRs at 'BB'; Outlook Negative
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2009-11-20 |
Fitch Affirms Empresa de Energia de Bogota's IDRs at 'BB'; Outlook Negative ## Nov #### #:## AM (EST) Fitch Ratings-Chicago/Bogota-## November ####: Fitch Ratings has affirmed Empresa de Energia de Bogota S.A. ESP's (EEB) foreign and... |
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| Fitch Affirms Flowserve at 'BB+'; Outlook Revised to Positive
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2009-11-20 |
Fitch Affirms Flowserve at 'BB+'; Outlook Revised to Positive ## Nov #### #:## AM (EST) Fitch Ratings-Chicago-## November ####: Fitch Ratings has affirmed Flowserve Corporation's Issuer Default Rating (IDR) and senior secured bank facilities... |
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| Fitch Affirms Transportadora de Gas Internacional's IDRs at 'BB'; Outlook Negative
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2009-11-20 |
Fitch Affirms Transportadora de Gas Internacional's IDRs at 'BB'; Outlook Negative ## Nov #### ##:## AM (EST) Fitch Ratings-Chicago-## November ####: Fitch Ratings has affirmed Transportadora de Gas Internacional S.A. E.S.P.'s (TGI)... |
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| Fitch to Recommence Rating Bank-Issued Notes With Embedded Market Risk
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2009-11-20 |
Fitch to Recommence Rating Bank-Issued Notes With Embedded Market Risk ## Nov #### #:## AM (EST) Fitch Ratings-London-## November ####: Fitch Ratings will recommence rating bank issued notes with embedded market risk, or structured notes,... |
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| Fitch Affirms BBVA-HIP 3 SME CDO; off RWN
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2009-11-20 |
Fitch Affirms BBVA-HIP # SME CDO; off RWN ## Nov #### #:## AM (EST) Fitch Ratings-London/Madrid-## November ####: Fitch Ratings has today taken rating action on BBVA-Hipotecario #, Fondo de Titulizacion de Activos (BBVA-HIP #), a Spanish... |
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| Fitch Withdraws Russia-based Rail Leasing's Ratings
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2009-11-20 |
Fitch Withdraws Russia-based Rail Leasing's Ratings ## Nov #### #:## AM (EST) Fitch Ratings-London/Moscow-## November ####: Fitch Ratings has today affirmed Russia-based Rail Leasing's (RL) Long-term Issuer Default Rating (IDR) at 'RD'... |
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| Fitch to Rate Nelnet Student Loan Trust 2009-3; Presale Issued
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2009-11-20 |
Fitch to Rate Nelnet Student Loan Trust ####-#; Presale Issued ## Nov #### #:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings expects to rate Nelnet Student Loan Trust ####-# (NSLT ####-#) as follows: --$###,###,###... |
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| Fitch Rates Oaktree Capital's $250MM Senior Debt 'A-'; Outlook Stable
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2009-11-20 |
Fitch Rates Oaktree Capital's $###MM Senior Debt 'A-'; Outlook Stable ## Nov #### #:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has assigned an 'A-' rating to Oaktree Capital Management, L.P.'s (Oaktree) $### million... |
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| Fitch Upgrades Triumph Assets Ltd; Outlooks Stable
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2009-11-20 |
Fitch Upgrades Triumph Assets Ltd; Outlooks Stable ## Nov #### #:## PM (EST) Fitch Ratings-Hong Kong-## November ####: Fitch Ratings has today affirmed the ratings of the Class AAA notes and upgraded Class AA and Class A notes issued... |
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| Fitch Revises Outlook on BII's National Rating to Positive from Stable
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2009-11-20 |
Fitch Revises Outlook on BII's National Rating to Positive from Stable ## Nov #### ##:## PM (EST) Fitch Ratings-Singapore/Jakarta-## November ####: Fitch Ratings has today revised the Outlook on PT Bank Internasional Indonesia Tbk's... |
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| Fitch Affirms SK Energy's IDR at 'BBB'; Outlook Remains Negative
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2009-11-20 |
Fitch Affirms SK Energy's IDR at 'BBB'; Outlook Remains Negative ## Nov #### ##:## AM (EST) Fitch Ratings-Seoul/Hong Kong-## November ####: Fitch Ratings has today affirmed SK Energy Co., Ltd.'s (SKE) Long-term foreign currency Issuer... |
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| Fitch Affirms ANZ Panin Bank's Ratings; Outlook Stable
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2009-11-20 |
Fitch Affirms ANZ Panin Bank's Ratings; Outlook Stable ## Nov #### #:## AM (EST) Fitch Ratings-Jakarta/Singapore-## November ####: Fitch Ratings has today affirmed PT ANZ Panin Bank's (ANZ Panin) National Long-term rating at 'AA+(idn)',... |
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| Fitch Affirms Silver Oak Notes' Ratings; Outlook Stable
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2009-11-20 |
Fitch Affirms Silver Oak Notes' Ratings; Outlook Stable ## Nov #### #:## AM (EST) Fitch Ratings-Beijing/Hong Kong/Singapore-## November ####: Fitch Ratings has today affirmed the ratings of the floating rate notes issued by Silver Oak... |
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| Fitch Hosts European CMBS Performance Update; London, 25 November
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2009-11-20 |
Fitch Hosts European CMBS Performance Update; London, ## November ## Nov #### #:## AM (EST) Fitch Ratings-London-## November ####: Fitch Ratings will discuss European CMBS performance at a seminar on Wednesday ## November in London.... |
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| Fitch Takes Rating Actions on 8 Moscow-Based Banks
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2009-11-20 |
Fitch Takes Rating Actions on # Moscow-Based Banks ## Nov #### #:## AM (EST) Fitch Ratings-London/Moscow-## November ####: Fitch Ratings has today taken a number of rating actions on eight Russian banks. As part of this action, Fitch... |
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| Fitch Affirms Rand Water at 'AA+(zaf)'; Outlook Stable
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2009-11-20 |
Fitch Affirms Rand Water at 'AA+(zaf)'; Outlook Stable ## Nov #### #:## AM (EST) Fitch Ratings-London/Johannesburg-## November ####: Fitch Ratings has today affirmed South Africa's largest state-owned bulk water utility, Rand Water's... |
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| Yaroslavl Region
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2009-11-20 |
...The affirmation of the Yaroslavl Region's ratings reflects its satisfactory budgetary performance, supported by ongoing federal government current and capital transfers and strong regional management. The ratings also factor in concentration on a few taxpayers in cyclical industrial sectors, and significant direct risk, with shortterm maturities in #### and ####....
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| South African Securitisation Programme (Pty) Ltd - Series I - (Equipment Rentals Securitisation Series) (SA ABS)
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2009-11-20 |
...The transaction is a refinancing of a securitisation of equipment leases originated by Sasfin Bank Limited (Sasfin) in South Africa. It refinances notes which reached their scheduled maturity on ## November ####. Fitch Ratings has assigned ratings to the securities issued under Series # (Equipment Rentals Securitisation Series) of an existing ZAR#bn note programme: South African Securitisation Programme (Pty) Ltd (SASP). Concurrently, Fitch affirmed the existing ratings of the securities already outstanding and assigned Loss Severity Ratings (LSRs) to them. The transaction was first closed in ####, before being restructured in ####, and restructured again in ####. In November ####, a refinance took place. The issuer is a special purpose company incorporated in South Africa. The issuer may establish separate note series. Each series will be supported by a separate pool of equipment leases. Within a series, the issuer may from timeÂtotime issue new notes as is happening now with the refinancing...
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| FTGENVAL TDA CAM 1, F.T.A. (Spain CDO)
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2009-11-20 |
...Fitch Ratings has assigned ratings to the notes issued by FTGENVAL TDA CAM #, F.T.A. (the issuer) as indicated above. This transaction is a cash flow securitisation of a static EUR###m pool of #,### secured and unsecured loans (the collateral) granted by Caja de Ahorros del Mediterraneo (CAM or the originator, rated `A'/ Negative Outlook/`F#') to mostly small and mediumsized enterprises (SMEs) and a marginal number (##) of selfemployed individuals (SEIs) in Spain. It is issued under the FTGENVAL Guarantee programme of the Autonomous Community of Valencia, rated `A+'/Stable Outlook/`F#', the autonomous government of the Spanish region of Valencia. The issuer is legally represented and managed by Titulizacion de Activos S.G.F.T., S.A. (TDA or the gestora), a limited liability company incorporated under Spanish law, the activities of which are limited to the management of securitisation funds. The `AAA' rating assigned to the class A#(G) notes is prior to the guarantee granted by the Autonomous...
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| La Mondiale
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2009-11-20 |
...The downgrade of La Mondiale's ratings on # October #### reflected the still moderate, although recovering, profitability and capital adequacy of the group for an insurer rated in the single`A' category. The group's solvency has clearly benefited from credit spread tightening on corporate bonds due to improved liquidity conditions as well as the recovery of European equity markets since March ####. However, the unfavourable conditions in the French real estate market, as well as the shifting demand towards eurodenominated products, will continue to pressurise solvency margins....
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| Caisse des Prets et de Soutien des Collectivites Locales
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2009-11-20 |
...The National Ratings assigned by Fitch Ratings to Caisse des Prêts et de Soutien des Collectivités Locales (CPSCL) are based on potential support from the Tunisian state in case of need and reflect CPSCL's strong links with the Tunisian state and key role as the unique lender to the local authorities....
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| Amen Bank
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2009-11-20 |
...Fitch Ratings only assigns a Support Rating to Amen Bank (AB). The rating reflects Fitch's view that, given AB's importance to the local economy, there would be a moderate probability of support from the Tunisian state if needed....
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| Union Bancaire pour le Commerce et l'Industrie
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2009-11-20 |
...# Months Interim # Months Interim As % of Year End As % of Year End As % of Year End As % of USDm TNDm Assets TNDm Assets TNDm Assets TNDm Assets Original Original Original Original Original Original Original Original Original...
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| Henkel AG & Co. KGaA
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2009-11-20 |
...Positive factors supporting the ratings include Henkel AG & Co. KGaA's (Henkel) solid market positions in the western European laundry and homecare sector, and its strong presence in emerging markets where ##% of Henkel's Q### sales were generated and where organic sales growth was #.#% yoy. Henkel holds a global market leadership position in consumer and industrial adhesives, although this exposes the group to cyclical industries such as automotive and electronics....
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| STFCL Loan Securitisation Trust Series 67 (India ABS)
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2009-11-20 |
...This transaction is a securitisation of a term loan (TL) disbursed to Shriram Transport Finance Co. Ltd (STFCL or the obligor, rated `AA(ind)'/Stable) by ICICI Bank Limited (ICICI Bank or the originator or seller). ICICI Bank has assigned the loan and the underlying receivables to a specialpurpose vehicle (SPV) called STFCL Loan Securitisation Trust Series ##. The SPV will purchase the receivables from ICICI Bank in trust for the benefit of the investors. Thus, effectively, ICICI Bank will sell down the proposed loan and transfer the credit risk to investors. After acquiring the receivables, the SPV will issue pass through certificates (PTCs) to the investors at the discounted value of the cash flows. The issue proceeds will be used by the SPV to pay ICICI Bank as consideration for the purchase of the receivables. ICICI Bank will act as the collection and processing agent and will be responsible for the collection of the receivables from the borrower. ...
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| SRTO Trust 2009 (India ABS)
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2009-11-20 |
...Fitch Ratings has assigned ratings of `F#+(ind)(SO)' to Series A# PassThrough Certificates (PTCs) and `AAA(ind)(SO)' with a Stable Outlook to Series A# PTCs issued by SRTO Trust ####. The PTCs are backed by a pool of used commercial vehicle (CV) loans originated by Shriram Transport Finance Company Ltd. (STFCL, the originator or seller). The loans were originated by STFCL with an aggregate outstanding principal balance of INR#,###.#m and future receivables of INR#,###.#m, as of the cutoff date on ## April ####. The ratings are based on the quality of the collateral, the underwriting criteria and servicing capabilities of STFCL, the financial structure of the transaction and the available credit enhancement (CE), in the form of a cash reserve of ##.#% of the future receivables provided by STFCL. The ratings address the timely payment of interest and timely payment of principal by the scheduled maturity date in accordance with the transaction documentation. The transaction has a par structure...
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| Fitch Downgrades 12 Classes from JP Morgan 2005 LDP1; Assigns Outlooks & LS Ratings
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2009-11-19 |
Fitch Downgrades ## Classes from JP Morgan #### LDP#; Assigns Outlooks & LS Ratings ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings takes various rating actions on JP Morgan #### LDP#, commercial mortgage... |
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| Fitch Rates Prince George's County's (Maryland) $30MM GOs 'AA+'; Outlook Negative
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2009-11-19 |
Fitch Rates Prince George's County's (Maryland) $##MM GOs 'AA+'; Outlook Negative ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns an 'AA+' rating to Prince George's County's (the county) $##,###,###... |
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| Fitch Affirms District of Columbia's Deed Tax Revs at 'A-'; Outlook Stable
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2009-11-19 |
Fitch Affirms District of Columbia's Deed Tax Revs at 'A-'; Outlook Stable ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings affirms its 'A-' rating on the District of Columbia's outstanding deed tax revenue... |
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| Fitch Rates Southern California Metro Water Dist $26MM Water Revs 'AA+'; $35MM GO Bonds 'AAA'
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2009-11-19 |
Fitch Rates Southern California Metro Water Dist $##MM Water Revs 'AA+'; $##MM GO Bonds 'AAA' ## Nov #### #:## PM (EST) Fitch Ratings-San Francisco-## November ####: Fitch Ratings has assigned an 'AA+' rating to Metropolitan Water District... |
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| Fitch Affirms Mineral Wells, TX's GO Bonds at 'A'; Outlook Stable
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2009-11-19 |
Fitch Affirms Mineral Wells, TX's GO Bonds at 'A'; Outlook Stable ## Nov #### #:## PM (EST) Fitch Ratings-Austin-## November ####: In the course of routine surveillance, Fitch Ratings affirms the City of Mineral Wells, Texas' (the city)... |
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| Fitch Affirms 1 and Downgrades 3 Classes of Porter Square CDO I, Ltd./Inc.
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2009-11-19 |
Fitch Affirms # and Downgrades # Classes of Porter Square CDO I, Ltd./Inc. ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has downgraded three classes and affirmed one class of notes issued by Porter... |
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| Fitch Rates Nuveen Virginia Dividend Advantage Municipal Fund's MTP Shares 'AAA'
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2009-11-19 |
Fitch Rates Nuveen Virginia Dividend Advantage Municipal Fund's MTP Shares 'AAA' ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has assigned an 'AAA' rating to the following securities issued by Nuveen... |
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| Fitch Affirms Maryland Institute College of Art $83.5MM Revs at 'BBB+'
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2009-11-19 |
Fitch Affirms Maryland Institute College of Art $##.#MM Revs at 'BBB+' ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings affirms the unenhanced 'BBB+' rating on the Maryland Health and Higher Educational... |
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| Correction - Fitch Downgrades JPMCC 2007-LDP12; Assigns LS Ratings
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2009-11-19 |
Correction - Fitch Downgrades JPMCC ####-LDP##; Assigns LS Ratings ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: (This is a correction for a press release originally issued October #, ####. It removes the Loss Severity... |
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| Fitch Rates Battery Park City Authority (NY) Series 2009A & 2009B Revs 'AAA'; Outlook Negative
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2009-11-19 |
Fitch Rates Battery Park City Authority (NY) Series ####A & ####B Revs 'AAA'; Outlook Negative ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns an 'AAA' rating to Battery Park City Authority's... |
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| Fitch Rates Ohio's $80MM GO Bonds 'AA'
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2009-11-19 |
Fitch Rates Ohio's $##MM GO Bonds 'AA' ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns 'AA' ratings to $## million State of Ohio general obligation (GO) bonds as follows: --$##.### million conservation... |
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| Fitch SMARTView: 15 U.S. FFELP & Private Student Loan ABS Deals Placed 'Under Analysis'
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2009-11-19 |
Fitch SMARTView: ## U.S. FFELP & Private Student Loan ABS Deals Placed 'Under Analysis' ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Following its monthly surveillance review of U.S. Student Loan asset-backed securities... |
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| Fitch Affirms Coweta County Water & Sewerage Auth, Georgia's Revs 'AA-'; Outlook Stable
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2009-11-19 |
Fitch Affirms Coweta County Water & Sewerage Auth, Georgia's Revs 'AA-'; Outlook Stable ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: As part of its ongoing surveillance efforts, Fitch Ratings affirms the 'AA-' rating... |
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| Fitch Affirms 2 and Downgrades 2 Classes of Porter Square CDO II, Ltd./Inc.
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2009-11-19 |
Fitch Affirms # and Downgrades # Classes of Porter Square CDO II, Ltd./Inc. ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has downgraded two and affirmed two classes of notes issued by Porter Square... |
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| Fitch Affirms Harris County Hospital District's (Texas) Bonds at 'A'; Outlook Stable
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2009-11-19 |
Fitch Affirms Harris County Hospital District's (Texas) Bonds at 'A'; Outlook Stable ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings affirms the 'A' rating on Harris County Hospital District (HCHD), Texas'... |
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| Fitch Downgrades 13 Classes of CSFB Mortgage Securities Corp. 2005-C1; Assigns Outlooks & LS Ratings
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2009-11-19 |
Fitch Downgrades ## Classes of CSFB Mortgage Securities Corp. ####-C#; Assigns Outlooks & LS Ratings ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings takes various actions on several classes of Credit... |
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| Fitch confirma en A(arg) a las ON de IMPSA
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2009-11-19 |
Fitch confirma en A(arg) a las ON de IMPSA ## Nov #### #:## PM (EST) Fitch Ratings-Buenos Aires-## November ####: Fitch Ratings-Buenos Aires-## de noviembre de ####: Fitch Argentina confirmo en A(arg) a las ON por hasta US$ ### millones... |
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| Fitch Assigns 411 Loss Severity Ratings to U.S. CMBS Bonds
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2009-11-19 |
Fitch Assigns ### Loss Severity Ratings to U.S. CMBS Bonds ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns ### Loss Severity (LS) Ratings to U.S. CMBS bonds in ## fixed-rate, vintage #### to ####... |
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| Fitch Assigns CMBS Primary Servicer Rating to Columbia National Real Estate Finance, LLC
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2009-11-19 |
Fitch Assigns CMBS Primary Servicer Rating to Columbia National Real Estate Finance, LLC ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns Columbia National Real Estate Finance, LLC (Columbia National)... |
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| Fitch Assigns 'AA-' Assured Guaranty Insured Issue Rating; Outlook Negative
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2009-11-19 |
Fitch Assigns 'AA-' Assured Guaranty Insured Issue Rating; Outlook Negative ## Nov #### #:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns an Assured Guaranty Insurer Financial Strength (IFS) rating of 'AA-'... |
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| Banc of America Commercial Mortgage Inc., Series 2007-1 - U.S. CMBS Focus Performance Report
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2009-11-19 |
...This report summarizes key credit characteristics of the Banc of America Commercial Mortgage Inc. (BACM), series ####-# transaction, following Fitch Ratings' most recent full transaction review conducted in August ####. Furthermore, the report has been updated to reflect the most recently reported performance information available, through the Oct. ##, #### remittance date. Projected term and maturity losses referred to herein are a reflection of Fitch's modeled treatment of the loans, which is prospective in nature and incorporates assumptions indicative of the current stressed market environment. These assumptions include modeled refinance tests, peak-to- trough cash flow declines, and market value declines relative to issuance. ·Specially serviced loans total #.#% of the pool (as of the October remittance) and include: The second largest loan in the pool (#.#%). The Solana loan ($### million pari passu portion) was transferred to special servicing in March #### and was within the payment...
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| Effective Disclosure Practices Are Indicative of Strong SHFA Programs
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2009-11-19 |
...Fitch Ratings considers both financial and nonfinancial information during the review of state housing finance agencies (SHFAs) and recognizes that transparency is fundamental to determining creditworthiness. Fitch views favorably SHFAs that effectively manage their data and present it in a timely and efficient manner. Effective disclosure practices that Fitch views as central to adequately determining creditworthiness of SHFAs are as follows: Monthly disclosure of portfolio delinquency rates by dollar amount, number of loans, and aggregated by indenture. Tracking and reporting of realized losses on loans by specific indenture. Frequent updates on variable-rate debt outstanding, including VRDO remarketing performance, bank bonds, and swap positions. Clearly reporting mortgage-backed securities (MBS) used for programmatic functions in financial statements and disclosure reports. Data-rich and easily navigable on-line sources for bond program information. Fitch believes that exceptional disclosure...
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| Maine Health and Higher Educational Facilities Authority - rev bonds ser 2009A
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2009-11-19 |
...The `AA' rating and Stable Rating Outlook reflect the diverse loan portfolio and security of loans within the Maine Health and Higher Educational Facilities Authority's (HHEFA, or the authority) loan pool. In addition to loan repayments, the pool is secured by a debt service reserve funded at MADS and backed by the state's moral obligation. A state-aid intercept mechanism to assure loan repayments and a supplemental operating fund that can be utilized so any delinquent loan payments do not cause a draw on the debt service reserve provides additional bondholder security....
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| Iowa Finance Authority (State Revolving Fund Program Funds) - state revolving fund rev bonds ser 2009
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2009-11-19 |
...Iowa's state revolving fund (SRF) program reserves and excess cash flow from loan repayments and investment income allow the bond program to withstand high levels of underlying borrower defaults without causing bond payment interruptions. Fitch Ratings estimates that approximately ##% of all outstanding borrower principal exhibits investment-grade characteristics. In addition, all loan principal is secured by water and/or wastewater pledges or general obligation pledges....
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| Nelnet Student Loan Trust 2009-3
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2009-11-19 |
...Fitch Ratings expects to rate the notes issued by Nelnet Student Loan Trust (NSLT) ####-#, as listed above. The ####-# trust is a discrete trust. The notes are backed by Federal Family Education Loan Program (FFELP) student loans that were either originated or acquired by Nelnet, Inc. (Nelnet) in its ordinary course of business before being sold into the trust....
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| City of Long Beach, California (Long Beach Airport) - sr arpt rev bonds ser 2009A&B
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2009-11-19 |
...The `AÂ' rating reflects Long Beach Airport's (LGB or the airport) location and the underlying demand within the greater Los Angeles air trade service area, favorable enplanement trends even in the current economic downturn, strong financial performance supported by diverse business lines, and low-cost facilities for passenger airlines. The airport's passenger base is ##% origination and destination (O&D), the airport exhibits solid and growing demand for air passenger service to a considerable mix of both business and leisure destinations, and the airport has an adequate balance sheet characterized by a low debt burden and solid liquidity levels....
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| COMM 2006-C7 Mortgage Trust - U.S. CMBS Focus Performance Report
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2009-11-19 |
...This report summarizes key credit characteristics of the COMM ####-C# Mortgage Trust transaction, following Fitch Ratings' most recent full transaction review conducted in August ####. Furthermore, the report has been updated to reflect the most recently reported performance information available, through the Oct. ##, #### remittance date. Projected term and maturity losses referred to herein are a reflection of Fitch's modeled treatment of the loans, which is prospective in nature and incorporates assumptions indicative of the current stressed market environment. These assumptions include modeled refinance tests, peak-to-trough cash flow declines, and market value declines relative to issuance. ·The transaction has among the lowest Fitch-modeled recognized losses and potential losses of its vintage, at #.#% and #.#%, respectively. ·Specially serviced loans totaled #.#% of the pool as of the October remittance and included: The ##th largest loan in the pool (#.#%). The $##.# million Lakeview...
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| Relatorio Sintetico: Banco Indusval S.A.
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2009-11-19 |
...Os Ratings Nacionais do Banco Indusval S.A. (Indusval) refletem a adequada estrutura de capital; a baixa alavancagem; e os satisfatórios indicadores de liquidez, mesmo em momentos de crise. Por outro lado, consideram o fato de ser um banco de nicho, operando num mercado volátil; seu médio porte; a relativa concentração em ativos e passivos; a base de receitas focada em uma única linha de negócios, middle market; o crescente volume de inadimplência, acompanhado de elevadas despesas de provisão, que pressionam seus resultados....
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| Relatorio Sintetico: Banco Regional de Desenvolvimento do Extremo Sul (BRDE)
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2009-11-19 |
...Os Ratings Nacionais do Banco Regional de Desenvolvimento do Extremo Sul (BRDE) refletem seus adequados Ãndices de liquidez e de alavancagem e a importância como banco de fomento regional, dedicado exclusivamente ao desenvolvimento econômico e social da Região Sul do paÃs, respondendo por ##,#% dos desembolsos do Banco Nacional de Desenvolvimento Econômico e Social (BNDES) para financiamento desta região. Também consideram a limitada capacidade de suporte financeiro de seus três estados acionistas: Rio Grande do Sul (RS), Santa Catarina (SC) e Paraná (PR) e, assim como em outros bancos públicos, potenciais problemas de influência polÃtica....
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| Relatorio Sintetico: Banco Bradesco S.A.
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2009-11-19 |
...Os IDRs em Moeda Local do Banco Bradesco S.A. (Bradesco), acima dos IDRs do Brasil, e seus Ratings Nacionais refletem a ampla franquia nacional e o histórico consistente de resultados, mesmo em ciclos turbulentos da economia, devido à gestão firme e conservadora e à diversificação de negócios e receitas. Também consideram sua forte capacidade de distribuição local, a ampla base de clientes e elevada liquidez. Os IDRs em Moeda Estrangeira estão no teto paÃs. Os ratings refletem, ainda, o forte desempenho, a partir de ####, movido pela expansão do financiamento ao consumo e à s pequenas e médias empresas (PMEs)....
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| Industrias Metalurgicas Pescarmona S.A.I.C. y F. (IMPSA)
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2009-11-19 |
...La calificación de IMPSA se sustenta en la previsibilidad sobre su generación de fondos a mediano plazo, producto de su nivel de proyectos en cartera (backlog) que está en lÃnea con la sostenida demanda global de equipos/tecnologÃa hidroeléctrica y eólica (US$ #.### MM a nov'##). También se considera la diversificación geográfica de sus ingresos y activos, y su habilidad para generar fondos en moneda dura (##% de los ingresos al cierre anual ene'##), lo cual mitiga el riesgo de descalce de moneda frente a sus compromisos financieros. Se prevé que los ingresos en dólares crezcan dada la composición del backlog....
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| Fitch Confirms 'A+/F1+' on DC GO Ser 2001D; Upgrades L-T to 'AA-' and Confirms S-T 'F1+' on 2002D
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2009-11-19 |
Fitch Confirms 'A+/F#+' on DC GO Ser ####D; Upgrades L-T to 'AA-' and Confirms S-T 'F#+' on ####D ## Nov #### ##:## AM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings has confirmed the 'A+/F#+' long-term and short-term ratings... |
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| Fitch Rates Wells Fargo Stage Trust, Series 2009-83C Floater & Residual Certificates
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2009-11-19 |
Fitch Rates Wells Fargo Stage Trust, Series ####-##C Floater & Residual Certificates ## Nov #### ##:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns a rating of 'AA/F#+' to the floater certificates and a rating... |
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| Fitch Rates Wells Fargo Stage Trust, Series 2009-84C Floater & Residual Certificates
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2009-11-19 |
Fitch Rates Wells Fargo Stage Trust, Series ####-##C Floater & Residual Certificates ## Nov #### ##:## PM (EST) Fitch Ratings-New York-## November ####: Fitch Ratings assigns a rating of 'AA-/F#+' to the floater certificates and a rating... |
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