Newsreel: Dartmouth-Hitchcock bonds affirmed; BoA to pay $404M
Dartmouth-Hitchcock’s bond rating is affirmed by agency
LEBANON — Standard & Poor’s Ratings Services has affirmed its “A+” rating for bonds issued by the New Hampshire Health and Education Facilities Authority for the Dartmouth-Hitchcock Obligated Group (Dartmouth-Hitchcock) on the authority’s $200.4 million series 2009 and 2010 bonds.
At the same time, Standard & Poor’s also revised its outlook from “negative” to “stable.”
In its report issued Nov. 21, the rating agency notes that in the past two years, “Dartmouth-Hitchcock’s financial performance has largely met our expectations for revising the outlook to stable. ”
The A+ rating reflects Standard & Poor’s assessment of Dartmouth-Hitchcock’s statewide presence and high demand for its hospital services, an extensive physicians network, improved financial profile, benefits from single management team and other factors, according to a press release.
Bank of America will pay Freddie Mac $404 million
CHARLOTTE, N.C. — Bank of America Corp. on Monday said it will pay Freddie Mac $404 million to settle remaining claims over soured home loans the bank sold to the mortgage giant, marking the bank’s latest attempt to put its mortgage woes behind it.
The Charlotte-based bank said the agreement resolves all requests to buy back defective mortgages sold to Freddie from Jan. 1, 2000, to Dec. 31, 2009. Bank of America said the cost of the settlement is covered by the bank’s existing reserves.
It’s the latest settlement Bank of America has reached with government-controlled Freddie, which like its sister institution, Fannie Mae, buys home loans from lenders and packages them into mortgage-backed securities.
The Charlotte Observer