Word: creditation
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...investment of about 300 billion yen ($3.3 billion) from the ETIC, which the flailing airline approached in October, in addition to hundreds of billions of yen in debt waivers from its main lenders. In addition, the ETIC and the state-backed Development Bank of Japan will extend JAL a credit line of more than $3.5 billion. Key measures of the restructuring plan include cutting more than 15,000 jobs, or about 30% of its workforce, by the end of 2013, paring down to about half of its 110 group firms, and slashing unprofitable international and domestic routes. JAL's shares...
...chief economist for the National Association of Realtors, calls the Inland Empire a "ground zero" for the nationwide housing bust. To first-time home buyers, though, its blighted cul-de-sacs appear as promising as the orange groves did to Dust Bowl refugees. Armed with an $8,000 tax credit and low mortgage rates, they have flocked to cities like Riverside, where auctioneers sell off foreclosed properties by the dozens from the courthouse steps. (See 10 things to do in Los Angeles...
Harvard’s money managers have said in the past that maintaining the University’s “AAA” credit rating is one of their top priorities. Though many colleges and universities, including Dartmouth, have seen their credit ratings downgraded due to fallout from the economic recession, outsiders remain confident in Harvard’s ability to repay its debt...
...moment Harvard’s credit rating is not in question in investors’ minds, as evidenced by this sale,” said one source close to the deal who asked not to be named discussing Harvard’s credit rating in order to preserve his relationship with the University...
...supporters of the University’s sale said at the time that, given the unfavorable financial climate, those bond prices were unavoidable and a product of the credit crunch—and not the result of the University’s actions or financial situation...