Industry News

Rural Electrification Corp. and Power Finance Corp. will work out a revival package for small hydel projects which are stalled, Union minister for power Piyush Goyal told reporters after a two-day meeting of state power and mines ministers in Vadodara. The bailout scheme will provide the required capital to take the stalled projects to completion if they meet certain criteria of viability. "Many small hydel projects are stalled for..."/>
REC, PFC to aid revival of small hydel projects: Piyush Goyal [Mint, New Delhi]
Citigroup does not expect the financial terms of the transaction to be material to its earnings."/>
Citi Announces Sale of Consumer Business in Brazil to Itaú Unibanco
Moody's Investor Service rated Toledo "A2 with a stable outlook" and Standard& Poor's granted an "A-" rating with a stable outlook. Standard& Poor's report to the city said its rating reflected the firm's assessment of things such as "the city's management as strong, with good financial policies and practices.""/>
Toledo maintains solid bond ratings from Moody's, S&P [The Blade, Toledo, Ohio]
Rural Electrification Corp. and urged states not to distinguish between those above and below the poverty line while giving power connections. Poor households do not have to make an upfront payment to meet the cost of laying wires to their homes, but others have to. This payment requirement often..."/>
Centre promises funds for last mile electrification [Mint, New Delhi]
BlackRock head of asset allocation."/>
Chicago Tribune Gail MarksJarvis column [Chicago Tribune]
Qatar Airways orders up to 100 Boeing jets [The Seattle Times]
Sears, Kmart and company CEO Edward Lampert. Financial and retail experts have long predicted catastrophe for this franchise, which has suffered from more reorganizations, store closings, deep cutbacks and fiscal pain than any business deserves. Sears hasn't found a long-term profitable core and critics argue that Lampert, a renowned hedge fund player who in 2013 became..."/>
Chicago Tribune Robert Reed column [Chicago Tribune]
Moody's-- have weighed in on a bond-refinancing deal that was key to the Virginia Port Authority's multibillion-dollar lease of the Virginia International Gateway port terminal signed two weeks ago. Standard& Poor's announced this week that it downgraded its rating on the authority's existing port-revenue bonds from "A+," its fifth-highest rating on a scale of 22, to "A," its sixth-highest rating."/>
S&P, Moody's take hard look at port bonds to help finance new Virginia International Gateway lease [The Virginian-Pilot]
Spirit AeroSystems and could stave off further production rate cuts on the 777, at least temporarily. Qatar's firm order is for 30 787-9 Dreamliners and 10 777-300 ERs-- a deal valued at $11.7 billion at list prices, though the airline likely will receive a sizable discount. It also signed a letter of intent for as many as 60 737 Max 8 s, a deal that carries a value of $6.9 billion at list..."/>
Qatar's widebody jet order could ease 777 rate cut -- by a few months [The Wichita Eagle]

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