Trimac Announces Second Quarter Results Aug 13, 2009
Management believes that EBITDA is a useful complementary measure of cash available for distribution before debt servicing expense, capital expenditures and income taxes. (2) Direct costs, selling and administrative and depreciation, expressed as a percentage of revenue, were impacted by significant fluctuations in fuel surcharge revenue between the prior and current period and the prior and current year. (PR Newswire)
LETTER: Extreme acts needed to save our democracy Aug 8, 2009
7X6Z9 wrote on Aug 6, 2009 8:54 PM:" Rep. Paul Ryan (R-WI) asked the Congressional Budget Office to estimate the impact of permanently extending the 20 most popular provisions of Obama's Porkulus bill. What did the CBO find? The true 10 year cost of the "stimulus" bill is $2.527 trillion in spending with another $744 billion cost in debt servicing. Total bill for the Generational Theft Act: $3.27 trillion. ". 7X6Z9 wrote on Aug 6, 2009 10:29 PM:" CORRUPT DEMOCRAT SUB-PRIME MORTGAGE GIANT FANNIE... (Mattoon Journal-Gazette, IL)
$11,060 spent per student in Isles Jul 29, 2009
Koyama also noted that a substantial transfer of services to DOE's budget happened back in 2001 when the public school system took on its employee benefit costs and debt servicing, which were originally handled by the state Department of Budget and Finance. Those costs account for more than $700 million per year. (Honolulu Advertiser)
Pemex Bond Yield Gap to Mexico Shrinks by Half as Profit Outlook Improves Jul 27, 2009
Pemex Yield Gap to Mexico Shrinks on Better Outlook: Week Ahead - Bloomberg. Updated: New York, Jul 27 04:08 London, Jul 27 09:08 Tokyo, Jul 27 17:08. (Bloomberg -- Latin America)
FEC okays N1.026tr budget deficit projection Jul 23, 2009
Umeoji argued that if Nigeria wants to really boost its economy, it should release funds meant for domestic debt servicing to inject liquidity into the system. He said that the present generation of Nigerian leaders is mortgaging the future of the upcoming generation. (Guardian News, Nigeria)
49ers want what S.F. doesn't have - money Jul 12, 2009
Why should we spend $40 million in bonds and $35 million in bond debt servicing to pay for the stadium. This is like Santa Clara taking out a huge mortgage it can't afford. (San Francisco Chronicle -- Opinion)
The Mboweni effect Jul 9, 2009
On the other hand, if Nadal was your man and you are one of many debt burdened South Africans; this has been a welcome reprieve as debt servicing has become far 'cheaper. This has presented a perfect opportunity for many to claw their way out of some of this debt and, in some cases, even start saving. (iAfrica.com)
Bear market wants Goldilocks results Jul 8, 2009
Retail turnover has been boosted by, for example, lower household debt servicing costs following the interest rate cuts, and by the Rudd Government's fiscal spending packages. Also doing well are businesses selling needs as opposed to wants, including medical companies, telcos and utilities, which are less vulnerable in economic downturns. (Sydney Morning Herald -- Business)
Biden: 'We misread how bad the economy was'... Jul 6, 2009
and what faith i take away in the congress and the president knowing that they forced upon us generations of debt servicing based upon what we now know is faulty information. curiously, bush "misreading" intelligence on iraq equated to "bush lied to start a war." is it now fair to say that "obama lied to get mortgage our future?". (The Drudge Report)
EDIT: A Reform Roadmap Jul 3, 2009
We urgently need the reform route to resource mobilisation: disinvestment, subsidy rationalisation, fuel price deregulation, auctioning of spectrum for 3G. Finally, fiscal responsibility and budget management norms need reviving to promote debt servicing and sustain India's global credit rating. More so, since India needs FDI in sectors like retail, insurance, education and infrastructure. (India Times, India)
James Howard Kunstler on Michael Jackson as America Jul 2, 2009
They threw money at him for the same reason that the federal government throws money at entities like CitiBank: the desperate hope that some miracle will allow debt servicing to resume. Michael could burn through $50-million in half a year. (Harper's Magazine)
Pakistan counts the cost of war Jun 25, 2009
The main reason for the deficit is rising expenditure on debt servicing and huge allocations for defense and law and order ... Defense and debt servicing costs may exceed estimates in the new fiscal year, resulting in a cut in development spending, according to experts ... Given the worsening security situation, experts fear defense and debt servicing costs will continue to rise, forcing the government to slash development spending and rely on foreign funding to meet its financial needs and... (Asia Times Online)
Hogan's parastatal U-turn Jun 24, 2009
But the current uncertainty over tariffs meant it was not clear how much debt servicing the company's balance sheet would allow. It would therefore help parastatals like Eskom and Transnet, which saw Nersa slash its pipelines tariff by 10. (iAfrica.com)
Japan to Keep AA- Credit Rating Even as Fiscal Goal Abandoned, Fitch Says Jun 17, 2009
Fitch to Keep Japans Debt Rating Even as Fiscal Goal Abandoned - Bloomberg. Updated: New York, Jun 17 04:16 London, Jun 17 09:16 Tokyo, Jun 17 17:16. (Bloomberg -- Asia)
Are Energy Derivative Markets Really Needed? Jun 6, 2009
EnergyPulse - Insight Analysis and Commentary on the Global Power Industry. Free Newsletter Sign up today for your free subscription to the EnergyPulse Weekly Update - delivered directly to your e-mail box. (Energy Pulse, CO)
The term ''hero'' has been seriously devalued in recent years. May 26, 2009
Ongoing contibutions are applied to debt servicing. Upon sale of the home, scheduled contibutions must be returned to the members fund account. (Sydney Morning Herald -- Business)
Brown Goes `Full Circle' as Exploding Debt Casts Doubt on U.K. Bond Rating May 24, 2009
Brown Goes Full Circle as Debt Raises Rating Doubt (Update1) - Bloomberg. Updated: New York, May 24 03:54 London, May 24 08:54 Tokyo, May 24 16:54. (Bloomberg)
New vehicle market has bottomed, says Wesbank May 19, 2009
Despite the deterioration in the indicator, De Kock expressed confidence the new vehicle market would start recovering because of an improvement in some key indicators, such as debt servicing and household debt to disposable income ratios. The indicator showed that the future outlook of dealers was more positive. (Business Report, South Africa)
ProSep reports 2009 first quarter financial results May 14, 2009
"In fact, in the last two quarters, ProSep has been invited to quote on a large number of potential projects, mostly for National Oil Companies. Even though lower hydrocarbon prices and global reductions in capital spending programs have lengthened our industry's sales cycle, we continue to experience a high level of activity." "The Company's current debt obligations and debt repayment schedule impose a burden on projected growth and, in particular, debt servicing in the parent Company cannot be... (Canada Newswire)
Essential Energy Services Trust Announces First Quarter 2009 Results, Credit Facility Renewal and Quarterly Distribution May 13, 2009
Essential remains well-positioned financially, with low debt and minimal debt servicing costs in circumstances where costs of credit are increasing exponentially. While the short-term outlook is discouraging, management continues to believe in the long-term fundamentals for natural gas and oil drilling and the demand for oilfield services in the WCSB. Over the longer term, the fundamentals still point to an increasing demand for natural gas and oil. (CCNMatthews Press Releases)
Risky US states May 12, 2009
This was the argument Bill Lockyer, Californias treasurer, made last year in saying that rating agency methodologies needlessly saddled state governments with added debt servicing costs. But it is Mr Lockyers state that is most likely to upset this tax-exempt $2,700bn market much favoured by individual savers. (FT.com -- Markets)
IROC Energy Services Corp. announces first quarter 2009 results May 11, 2009
CALGARY, May 11 /CNW/ - IROC Energy Services Corp. ('IROC' or the 'Company') (TSX: 'ISC') announces the Company's financial results for the three months ended March 31, 2009 (Canada Newswire)
Sri Lanka's War Off the Battlefield May 9, 2009
" Foreign aid is critical to Sri Lanka as it struggles to set up camps with decent food, water and sanitation for tens of thousands of refugees. It will be even more important as the country tries to rebuild the north after nearly 30 years of war. Spending on military pay, pensions and hardware has put a huge burden on Sri Lanka's budget. This year, the government's total tax revenue, after debt servicing, will not be enough to meet its expected spending. And yet the Sri Lankan government has... (Channelnewsasia.com)
Pulse Data Inc. reports q1 2009 results May 7, 2009
The Company's definition of cash EBITDA is cash available for interest payments, cash taxes if applicable, debt servicing, discretionary capital expenditures and the payment of dividends, and is calculated as earnings before interest, income taxes, depreciation and amortization less participation survey revenue, plus non-cash and non-recurring G expenses. The Company's definition of funds from operations is cash flow from operations as prescribed by Canadian GAAP but excluding the impact of... (Canada Newswire)
New car sales stall May 6, 2009
It said the most recent one percent reduction in interest rates and the resultant lower debt servicing costs would bring some relief to hard-pressed consumers and businesses. NAAMSA said that domestic sales of new vehicles were expected to remain under pressure in the short to medium term; however, a revival in consumer expenditure on the back of lower interest rates, together with stimulatory government spending, should start to lend support to the domestic market during the second half of the... (iAfrica.com)
Public holidays put vehicle sales in park May 6, 2009
"The most recent one percent reduction in interest rates and the resultant lower debt servicing costs will bring some relief to hard pressed consumers and businesses," Naamsa said. Domestic sales of new vehicles were expected to remain under pressure in the short to medium term. (Business Report, South Africa)
Brookfield Real Estate Services Fund Announces First Quarter Results and Monthly Cash Distribution May 5, 2009
The Fund's objectives when managing capital are to maintain a capital structure that provides financing options to the Fund while remaining compliant with the covenants associated with the long-term debt; maintain financial flexibility to preserve its ability to meet financial obligations, including debt servicing and distributions to unitholders; and deploy capital to provide an appropriate investment return to its unitholders. The Fund's financial strategy is designed to maintain a flexible... (CCNMatthews Press Releases)
Mark IV Files Voluntary Chapter 11 Petitions to Restructure Its Debt; Reaches Agreement in Principle with Lenders on Plan of Reorganization May 1, 2009
"While we have made significant progress in lowering our cost structure and improving our operations, the next step to achieving bottom-line, sustainable profitability after debt servicing is restructuring our balance sheet. We fully expect to emerge from Chapter 11 as a stronger company with a capital structure that supports our competitive strengths," Mr. Orchard said. IVHS and International Operations Excluded from Filing and Remain Strong. (PR Newswire)
China's loan arranger rides in Apr 28, 2009
"So we will look at three documents. First, their electricity bill; how much electricity have they consumed. Second, water bills. Third the customs clearance declaration forms. It's impossible, or very difficult, to forge those three documents. "And for SMEs we will look at the corporate governance structure, regardless of official titles, we will look at the integrity of those executives and they should have a very good repayment and debt servicing record. "We will look at their products -... (Sydney Morning Herald -- Business)
Fighting Over Inflation Apr 20, 2009
The price of debt servicing is build in everything from your phone bill to real estate taxes down to the bus ticket. Truth about consequences. (Slate)
Failing to push paper in digital age Apr 17, 2009
Then came the credit crunch and its dwindling cash flow was eaten up by debt servicing costs. As maturities loomed, it was forced into talks with creditors, and desperately slashed costs and tried to force price hikes on recalcitrant publishers. (Globe and Mail)
South Africa: Recession Looms As Retail Sales Plunge Apr 16, 2009
" We expect to see only a gradual recovery in retail sales largely on the back of the additional purchasing power released by lower debt servicing costs," Thebe Securities economist Monale Ratsoma said. The introduction of tougher credit rules in June 2007, along with poor business confidence, would keep a lid on credit extension, Ratsoma said. (allAfrica.com)
Banking sector may see higher NPL ratio in March figures Apr 14, 2009
Rising NPL ratio will be attributed to decline in business revenue particular in export-oriented industries, reduction in household debt servicing ability following an expected surge in the number of unemployed, he told StarBiz in an email reply. Dr Yeah Kim Leng. (The Star Online, Malaysia -- Business)
Sleepless in Mint Street Mar 28, 2009
Not only in terms of a higher debt burden and higher debt servicing costs, but in terms of higher interest rates for the economy, as the interest rate on risk-free sovereign government debt sets the floor for all other interest rates. The higher the risk-free rate, the higher the rate of interest to the ultimate borrower (since he pays a risk premium over the sovereign rate). (India Times)
Retail sector on tenterhooks as consumers ponder future Mar 27, 2009
He expected these consumers to use the respite granted by lower debt servicing costs to pay back debts rather than accelerate spending. This, combined with a radical slowing in the economy, would keep consumers under pressure this year, but the share prices had held up, failing to reflect this view. (Business Report, South Africa)
Inflation on the downtrend Mar 26, 2009
Lower interest rates are expected to provide support for domestic demand through the availability of credit at cheaper costs and by increasing disposable income through lower debt servicing costs. Reduced interest rates also increase the affordability of loans and the cost of capital. (The Star Online, Malaysia -- Business)
Unemployment main worry for banks: RBA Mar 26, 2009
It says while recent reductions in interest rates have helped to alleviate debt servicing pressures, "the main downside risk to the performance of banks' housing portfolios is from a rise in unemployment as the economy slows". Treasurer Wayne Swan conceded this week that it is now "virtually impossible" for the economy to avoid a period of negative growth, suggesting that the government's already slim growth forecasts will be downgraded further in the May 12 budget. (Sydney Morning Herald -- Business)
Precautionary moves put households on stronger ground Mar 26, 2009
This provided enhanced support to the households debt servicing capacity ... The sustained debt servicing capacity was also reflected in the financial assets-to-debts ratio, which continued to remain high at 2. (The Star Online, Malaysia -- Business)
Australia Not at Risk of U.S.-Style Subprime Crisis, RBA's Richards Says Mar 26, 2009
Australia Not at Risk of U.S.-Style Subprime Crisis (Update2) - Bloomberg. Updated: New York, Mar 26 03:43 London, Mar 26 07:43 Tokyo, Mar 26 16:43. (Bloomberg -- Australia & New Zealand)
Investor Anxiety Heightening in Ghana? Mar 25, 2009
And the analysis is further complicated by ongoing balance of payments pressures and external debt servicing constraints, amongst other macroeconomic concerns. Because of all the foregoing reasons, it will be extremely difficult to definitively ascribe the recent capital movements to a heightened sense of investor anxiety. (Ghana Web, Ghana)
Deripaska May Lose Grip on Rusal Aluminum Empire With $14 Billion of Debt Mar 23, 2009
Deripaska May Lose Rusal Control on $14 Billion Debt (Update1) - Bloomberg. Updated: New York, Mar 23 03:24 London, Mar 23 07:24 Tokyo, Mar 23 16:24. (Bloomberg -- Europe)
CRISIL downgrades IG Petro Mar 19, 2009
The pressure on IGPs debt servicing ability is reflected in the fact that the company, in December 2008, rescheduled its term loan from Bank of America ... The ratings could be downgraded further in case of a significant pressure on the companys debt servicing measures or discontinuance of the provisional safeguard duty of 25 per cent after August 2009. (India Times)
Essential Energy Services Trust Reports 2008 Fourth Quarter and Year End Results and Distribution Announcement Mar 12, 2009
In the face of this negative industry outlook, Essential remains well-positioned financially with low debt and minimal debt servicing costs. The steps being taken by Essential management today may translate into opportunities for future growth. (CCNMatthews Press Releases)
Zargon Energy Trust Announces 2008 Fourth Quarter and Full Year Results Mar 11, 2009
02 million in the third quarter of 2008, resulting in decreased debt servicing charges. Zargon's interest borrowing rates also declined during the quarter as the Bank of Canada lowered rates. (CCNMatthews Press Releases)
Few Red Flags Over Ghana's Budget Mar 11, 2009
It is also not clear how Government proposes to reduce debt servicing from 17% of payments in 2008 to 14% in 2009 when carry-over effects of 2008s deficit financing, reserve fund depletion, arrears (for which some GHC533m has been voted in the budget), and SOEs financial distress in 2008 all point to higher debt servicing (even accounting for lower deficit financing for 2009 itself). We were also puzzled to find the money voted for the laudable Savannah Accelerated Development Agency... (Ghana Web, Ghana)
Weigh up the cost of buying Mar 6, 2009
Lenders may use an alternative debt-servicing calculation called the net income surplus model, which requires the borrower to have a minimum surplus of after-tax income after taking debt servicing into account. In a recent study APRA found the median after-tax income coverage was 1. (Sydney Morning Herald)
Rex Energy Corporation Announces 2008 Results Mar 6, 2009
You should carefully consider the specific items included in the company's computations of EBITDAX. While Rex Energy has disclosed its EBITDAX to permit a more complete comparative analysis of its operating performance and debt servicing ability relative to other companies, you are cautioned that EBITDAX as reported by the company may not be comparable in all instances to EBITDAX as reported by other companies. EBITDAX amounts may not by fully available for management's discretionary use, due to... (Primezone Releases)
Is steep rupee depreciation worrisome? Mar 4, 2009
But what should worry the policymarkers is the fact that currency depreciation would increase the cost of debt servicing. This dimension needs attention particularly since Indias external debt, which has been creeping up since 2007, has increased by more than a quarter in the first six months of the current fiscal. (India Times)
Rocky Mountain News Shutdown Means Profit for Denver Post, Singleton Says Feb 27, 2009
MediaNews is up to date on its debt servicing payments, he said. The , which Singleton owns through MediaNews, will win most of the Rockys subscribers beginning Feb. 28, said , a spokesman for the Denver Newspaper Agency, which manages the joint operating agreement. (Bloomberg -- US)
* Western aid to Africa is lending a hurting hand Feb 25, 2009
By the end of the 1980s, debt servicing meant a net reverse flow of money from poor countries to rich. This could not continue, and campaigns for debt relief soon followed. (Taipei Times, Taiwan -- World Business)
Read the 'JER' transcript Feb 24, 2009
Finally, it's for debt servicing. Most of these states bonded out a lot of their infrastructure spending. (Fox News)
Nigeria: Lessons From Budget 2009 [editorial] Feb 23, 2009
Finally, we are happy to see that with external debts now lower than they used to be, a substantial chunk of this year's budget has been dedicated to domestic debt servicing. This is expected to buoy local spending, the survival of the people and the few industries left. (allAfrica.com)
At last, N' Assembly passes N3.1tr 2009 Budget Feb 19, 2009
65 billion for debt servicing, N1 ... 65 billion for debt servicing. (Guardian News, Nigeria)
EDIT : Holding Steady Feb 17, 2009
Putting off vigorous debt servicing won't reduce the load of a consolidated Centre-state fiscal deficit of over 10 per cent. Let's not forget that things like fuel and fertiliser bonds aren't even part of budget calculations. Or that resource mobilisation is difficult today. (India Times, India)
Toronto Pearson raising passenger fee Feb 15, 2009
The authority noted that its room for cost-cutting is restricted as two-thirds of its expenses are fixed, including rent paid to the federal government, debt servicing costs and payments in lieu of taxes. Despite this challenge, many cost reductions have been highlighted for 2009 and more must be done, the GTAA stated. (Globe and Mail)
Essential Energy Services Trust Announces February 2009 Distribution, 2009 Outlook and 2009 Capital Spending Budget Feb 12, 2009
This translates into low debt servicing costs and possible opportunities for growth during this economic down-cycle. As the Trust obtains clarity on future industry conditions, the Board of Directors will continue to monitor the cash distribution on a month-to-month basis. (CCNMatthews Press Releases)
Public Information Notice: IMF Executive Board Concludes 2008 Article IV Consultation with Finland Feb 9, 2009
Amid a flagging external environment, sluggish employment growth, the erosion of real disposable income by higher inflation and debt servicing, squeezed profit margins, and rising financing costs will restrain both consumption and investment. The cumulative direct impact of financial tightening on 2008-09 growth is estimated at percentage points. (IMF News)
