Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Southwest Corporate asks SandP to pull rating
PLANO, Texas (7/26/10)--At the request of the Plano, Texas-based Southwest Corporate FCU, Standard & Poor's (S&P) Wednesday pulled out its BBB-/A-3 counterparty credit rating on the corporate. "As part of ongoing efforts to reduce operating expenses, Southwest Corporate requested that Standard & Poor's withdraw the counterparty rating," confirmed Melissa Wardell, senior vice president and chief financial officer at the corporate. "Southwest Corporate does not anticipate needing the rating," she told News Now, adding that the corporate "previously eliminated other external ratings to also reduce operating expenses." S&P, a credit rating agency based in New York, said a counterparty credit rating evaluates the creditworthiness of both public and private financial institutions and financial service entities. The rating demonstrates financial strength, improves leverage in financial transactions, creates a standard that allows for peer comparisons, and enhances debit issuance in the credit markets, giving borrowers a range of placements of their debt instruments, according to S&P.


RSS





print
News Now LiveWire
Final field-of-membership rule tops April 30 NCUA agenda http://t.co/gFIhRhUCts
1 day ago
.@CUNA's @Nussle speaks to @VonnieQuinn about #StoptheDataBreaches and reg. relief. http://t.co/TMTubG9Afk
1 day ago
RT @NCUFoundation: .The Foundation's @hylandhighway with @NatlJumpStart President/CEO Laura Levine at #FLHillDay2015 today: http://t.co/ep5…
1 day ago
Seriously underwater homes rise, new-home sales tumble News Now: http://t.co/2LzWTkqnES
1 day ago
#NewsNow Cornerstone Foundation awards $71K in grants http://t.co/Y6D8K9rwWv
1 day ago