Fitch Ratings on Monday affirmed the debt ratings of the Boeing Co. and its financing arm, Boeing Capital.
Fitch’s issuer default ratings on the companies are at the mid-point of investment grade. The rating outlook is stable, which means they aren’t expected to be changed in the near future.
The ratings agency expects Boeing’s credit profile to improve this year as profit gets a lift from an uptick in deliveries of 787s and 747s.
Union settles Longview dispute
The International Longshore and Warehouse Union and grain terminal operator EGT reached a tentative settlement Monday to end a fiery labor dispute at the Port of Longview that included blocked trains and repeated arrests. The ILWU and EGT, did not immediately disclose details of the agreement.
Nationwide mortgage deal goes to states
The nation’s five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent to state officials for review. Those who lost their homes to foreclosure are unlikely to get their homes back or benefit much financially from the settlement, which could be as high as $25 billion. About 750,000 Americans — about half of the households who might be eligible for assistance under the deal — will likely receive checks for about $1,800.
Halliburton rides oil boom to 4Q profit
Halliburton’s net income spiked 50 percent in the final three months of 2011 as one of the world’s biggest oilfield services companies shifted its focus from natural gas to oil, with a barrel of crude again trading near the triple digit mark yet again. The Houston company posted earnings of $906 million, or 98 cents per share, for the fourth quarter. That compares with $605 million, or 66 cents per share, for the same part of 2010.
Associated Press president to retire
After nearly nine years leading The Associated Press through a media landscape reshaped by unprecedented upheaval, President and CEO Tom Curley announced Monday that he will step down. AP’s board of directors has set up a committee to find a replacement for Curley, 63, who plans to defer his retirement until the transition is complete. Curley, who has led AP since June 2003, spent his tenure working to transform the news cooperative for the digital era. He oversaw the launch of new platforms for multimedia content, led a search for fresh sources of revenue and vigorously protected the results of AP’s and the industry’s newsgathering efforts in a wide-open online marketplace.
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