Client News Release
Fed throws fresh lifeline to financial system (Reuters) and Fitch Rates Sedgwick Co. Public Bldg Commission Revs 'AAA'; Outlook Stable (Business Wire)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 11/26/2008 - Bonds industry news provided by Financial News USA (OTC: FNWU). By Mark FelsenthalWASHINGTON (Reuters) - The Federal Reserve threw a massive life-line to consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards. Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie Mac and the Federal Home Loan Banks. It will also buy up to $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae.The central bank also launched a $200 billion facility to support consumer finance, including student, auto, and credit card loans and loans backed by the federal Small Business Administration. [Read the full article]
CHICAGO--(BUSINESS WIRE)--Fitch Ratings has assigned an 'AAA' rating to Sedgwick County Public Building Commission (PBC), Kansas' $50.75 million revenue bonds (technical education complex project) series 2008-1. The bonds are
scheduled for a competitive sale on Dec. 3, 2008. In addition, Fitch affirms the 'AAA' ratings on Sedgwick County, Kansas' (the county) approximately $70.2 million in outstanding general obligation (GO) bonds and $44.9 million in outstanding PBC revenue bonds. The Rating Outlook is Stable. The PBC bonds are special obligations of the county, payable from rental payments of the county and are not subject to annual appropriation, cancellation, or termination. The county covenants to make rental payments from all legally available sources and to levy property taxes,
without limitation, if necessary, to make such payments. [Read the full article]
NEW YORK--(BUSINESS WIRE)--Fitch Ratings will confirm the long-term 'AAA' rating assigned to Mecklenburg County, North Carolina's (the county) $75,650,000 million of outstanding variable rate general obligation (GO) bonds, series 2006A. Fitch will also upgrade the county's short-term rating to 'F1+' from 'F1.' These rating actions are in connection with the county's plan to convert the bonds to an initial long-term interest rate mode. The rating confirmation and upgrade will be effective on the conversion date of Dec. [Read the full article]
NEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns its 'AA-' rating to the State of Hawaii's $120 million highway revenue bonds, series 2008. The bonds, which are
expected to be offered during the week of Dec. 9 through negotiation, will be due Jan. 1, 2010-2029 and will finance statewide highway capital improvement projects. Additionally, Fitch affirms the 'AA-' rating on $241.2 million outstanding parity highway revenue bonds. The Rating Outlook is Stable. Highway revenue bonds are not general obligations of the state but are payable from and have a first lien upon revenues deposited into the state highway fund, principally the fuel license (gas) tax, vehicle registration fees and weight taxes, and rental motor vehicle and tour
vehicle surcharge taxes, all of which become pledged user taxes upon deposit to the fund. [Read the full article]
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