Mortgage and Financial News From 2007-12-18 Page 5

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  • Credit rating review adds to Alliance & Leicester worries

    Daily Telegraph - Drax, which operates Europe's biggest coal-fired power station, slumped 45½ to 623½p as it scrapped plans to refinance its debt because of the ongoing credit crisis. On the upside, oil services group Petrofac jumped 34½ to 510p on the back of a ...
    2007-12-18 04:42:00

  • Centro comfortable about ongoing viability

    News.com.au - Australia's second largest shopping centre owner said neither it, nor any of its managed funds, are in breach of lending covenants. While it was looking at options to refinance short term maturing facilities and reducing its gearing, it was not under ...
    2007-12-18 04:42:00

  • Turmoil in the markets forces Drax to shelve its refinancing

    Times Online - Drax's decision not to press on with its plan, announced in September, to refinance by taking on more debt means that it will pay out far less in a special dividend. In a statement, the company, which owns the giant coal station near Selby in North ...
    2007-12-18 04:49:00

  • More interest rate cuts expected as inflation remains at 2.1%

    The Independent - ... but added that "business investment will be increasingly pressurised going forward," citing the credit crunch and another Bank of England survey which said that "for a non-trivial minority of companies, it had become more difficult to refinance ...
    2007-12-18 05:03:00

  • Centro up 64% on 'comfort'

    News.com.au - The company today said that while it was looking at options to refinance short term maturing facilities and reducing its gearing, it was not under any obligation to sell assets. "Centro management and external financial advisers, as well as the ...
    2007-12-18 05:46:00

  • GLOBAL MARKETS-Techs lead Asia stocks recovery, dollar firm

    Guardian Unlimited - Shares in Centro Properties Group rallied about 50 percent, having crashed earlier this week after it became the latest victim of the credit crisis, revealing it was struggling to refinance maturing debt.
    2007-12-18 06:15:00

  • St George Bank exposed to Centro turmoil

    News.com.au - The company earlier this week warned that its recently inability to refinance $1.3 billion of maturing loan facilities meant its earnings would suffer in fiscal 2008. Centro will not pay a first half distribution and has cut its full year distribution ...
    2007-12-18 07:26:00

  • Business as usual for Centro

    News.com.au - While it was looking at options to refinance short-term maturing facilities and reducing its gearing, Centro (cnp.ASX: Quote , News ) was not under any obligation to sell assets. "Centro management and external financial advisers, as well as the advisers ...
    2007-12-18 07:26:00

  • Australia's troubled Centro denies it faces bankruptcy from debt ...

    International Herald Tribune - Centro is struggling to refinance over 3.9 billion Australian dollars (US$3.35 billion; €2.33 billion) in debt by Feb. 15. Problems in the U.S. subprime mortgage market have forced it to look for expensive short-term loans in a risk-averse global ...
    2007-12-18 07:55:00

  • Centro Says It's Still Viable Amid Credit, Stock Rout (Update1) (Bloomberg.com)

    Dec. 19 (Bloomberg) -- Centro Properties Group, an owner of 700 U.S. shopping malls, said it remains viable amid negotiations to refinance A$3.9 billion ($3.3 billion) in debt and a share market rout that cut 86 percent of the company's value in two days.
    2007-12-18 05:58:44

  • LPTs rush to clarify debt position

    The Australian - ... including three belonging to the Rubicon family, voluntarily provided information to ... Most told the ASX that they had no need to refinance in 2008. The Rubicon trusts ... Centro had relied on the CMBS (commercial mortgage-backed securities) market ...
    2007-12-18 05:50:00

  • U.S. treasury secretary pushes mortgage plan in Stockton

    Sacramento Bee - U.S. treasury secretary pushes mortgage plan in Stockton By Jim Wasserman - ... in the country," Paulson told one borrower who said she could no longer refinance ... in July, August and September, according to La Jolla-based DataQuick Information ...
    2007-12-17 03:53:00

  • Homeowners Facing Foreclosure Learn About Government Help

    KXTV News10Net - The proposal was developed in negotiations led by Paulson with mortgage lenders ... The intent of the deal is to make it easier for borrowers to refinance their ... to seek the help. He urged them to call 1-888-995-HOPE, toll free, for information.
    2007-12-18 01:28:00

  • Home Loan U Offers Free Refinancing Tips (The Bradford Era)

    (ARA) - As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment.
    2007-12-18 03:27:22

  • Press Release (Federal Reserve Board)

    The Federal Reserve Board on Tuesday proposed and asked for public comment on changes to Regulation Z (Truth in Lending) to protect consumers from unfair or deceptive home mortgage lending and advertising practices.
    2007-12-18 08:15:07

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