Debt Management - Business news in brief
Business news in brief
Philadelphia Inquirer - in Philadelphia, has provided $1.47 billion to support money funds and other cash-management portfolios since November. SIVs were popular investments for money funds looking to increase yields. The vehicles sold commercial paper or medium-term debt
Merill Lynch hit with suit
Silicon Valley - In October, a month after the deal closed, Merrill reported that it was taking a writedown of about $8 billion in the third quarter because of the declining value of mortgage-backed debt. Merrill officials said errors in risk management contributed to
Fitch Rates Fairbanks North Star Borough, Alaska’s $11.1MM GOs ‘A
Forbes - The ‘A+’ rating reflects the borough’s continued strong financial position and conservative financial management policies, low debt burden with a high level of state debt service reimbursement, and strong assessed valuation gains driven by new
Merrill Lynch suit tied to subprime woes
Kansas City Star - Merrill reported a writedown of about $8 billion in the third quarter because of mortgage-backed debt. The writedown the largest in Merrill s history wiped out the bank s earnings for 2006. Merrill officials said errors in risk management