26, 1997, had received duly executed and unrevoked consents to amend the indentures pursuant to which the Securities were issued from holders of approximately 83% and 79% of the aggregate outstanding principal amount (excluding any Securities owned by Regency or any affiliate of Regency and excluding the receipt of notices of guaranteed delivery) of the Senior Securities
and the Junior Securities, respectively.
Fitch's expected ratings of the funds' senior securities
assumed certain minimum levels of pro forma asset coverage, relative to the market value of the funds' assets at the time of the rating.
has amended its offer to purchase for cash (the "Debt Tender Offer and Consent Solicitation") all of Regency's outstanding (i) $110 million principal amount of 9-7/8% Senior Subordinated Notes due 2002 (the "Senior Securities
") and (ii) $50 million principal amount of 12-1/4% Subordinated Notes due 2003 (the "Junior Securities," and, together with the Senior Securities
, the "Securities"), and its solicitation for consents to amend the indentures pursuant to which the Securities were issued.
NEW YORK -- With recent stock and credit market volatility and illiquidity posing significant challenges for managers of leveraged closed-end funds, inability to adhere to asset coverage ratios could have rating implications for senior securities
issued by these funds, according to Fitch Ratings.
Credit enhancement for the 'AAA' Pool 1 senior securities
is provided by the 4.
The 'AAA' rating on the senior securities
reflects the 32.
Credit enhancement for the "AAA" Pool 1 senior securities
is provided by the 3.
Credit enhancement for the "AAA" pool one senior securities
9 million classes A and X senior securities
are rated 'AAA' while the $3.
Pyykkonen's experience includes having held Senior Securities
Analysts positions with Hoefer & Arnett, C.
NYSE:MXE) (NYSE:MXEPR) (the "Fund") announced today that the issuance of the Fund's preferred stock on or about January 6, 2006, pursuant to a nontransferable rights offering to all shareholders conducted between November and December 2005, may have inadvertently contravened one of the Fund's fundamental investment restrictions, which prohibits the Fund from issuing senior securities
Schlotter, senior securities
analyst covering energy stocks with SISM, and a four star analyst for EPS accuracy, according to StarMine, said: "The company's shares have seen considerable price increase in the past six months; with the leverage to the Utah tar-sands, further appreciation potential is intact.