Fitch Upgrades Raytheon On Performance, Debt Reduction

Fitch Upgrades Raytheon On Performance, Debt Reduction
SAN FRANCISCO (MarketWatch) – Fitch Ratings said Tuesday it upgraded Raytheon Co. on its performance and debt retirement progress. Fitch raised the company`s long-term issuer default, senior unsecured debt, and bank facilities ratings to A- from BBB+. The outlook is stable. “The rating upgrades are based on RTN`s conservative financial policies, financial flexibility, strong credit metrics, and significant liquidity,” Fitch said in a statement. “Debt retirement in 2007 materially strengthened RTN`s financial profile, and Fitch expects RTN will maintain its strong financial position.”

SAN FRANCISCO (MarketWatch) – Fitch Ratings said Tuesday it upgraded Raytheon Co. on its performance and debt retirement progress. Fitch raised the company`s long-term issuer default, senior unsecured debt, and bank facilities ratings to A- from BBB+. The outlook is stable. “The rating upgrades are based on RTN`s conservative credit.com/?q=Financial” title=”Financial-Credit finance Search”>financial policies, credit.com/?q=Financial” title=”Financial-Credit finance Search”>financial flexibility, strong credit metrics, and significant liquidity,” Fitch said in a statement. “Debt retirement in 2007 materially strengthened RTN`s credit.com/?q=Financial” title=”Financial-Credit finance Search”>financial profile, and Fitch expects RTN will maintain its strong credit.com/?q=Financial” title=”Financial-Credit finance Search”>financial position.”

Capital One Affirms Outlook, Plans Secondary Stock Offering
SAN FRANCISCO (MarketWatch) – Capital One Financial Corp. said late Tuesday that it expects to build an allowance for loan losses by $200 million in the third quarter, and plans a secondary offering. Capital One said it expects a low single-digit decline in year-end managed loans, and double-digit growth in year-end deposits. Also, Capital One said it expects low to mid-single digit revenue growth. Separately, Capital One said it plans to sell 14 million shares of common stock for general corporate purposes. Capital One has about 375.7 million shares outstanding.

SAN FRANCISCO (MarketWatch) – Capital One Financial Corp. said late Tuesday that it expects to build an allowance for loan losses by $200 million in the third quarter, and plans a secondary offering. Capital One said it expects a low single-digit decline in year-end managed loans, and double-digit growth in year-end deposits. Also, Capital One said it expects low to mid-single digit revenue growth. Separately, Capital One said it plans to sell 14 million shares of common stock for general corporate purposes. Capital One has about 375.7 million shares outstanding.

Procter & Gamble Sues Kraft Over Coffee Container Design
SAN FRANCISCO (MarketWatch) – Procter & Gamble Co. said Tuesday it filed a patent lawsuit against Kraft Foods Inc. over the design of its lightweight container for Maxwell House coffee. P&G said the new four-pound plastic container for Maxwell House infringes patents on Folgers Coffee. “We made large investments to overcome the technical challenges in making a lightweight plastic container that can withstand the pressure changes that occur between the factory and the consumer`s home,” said Steve Jemison, P&G chief legal officer, in a statement. “Many innovations in this container are covered by P&G patents, which we believe Maxwell House has infringed.”

SAN FRANCISCO (MarketWatch) – Procter & Gamble Co. said Tuesday it filed a patent lawsuit against Kraft Foods Inc. over the design of its lightweight container for Maxwell House coffee. P&G said the new four-pound plastic container for Maxwell House infringes patents on Folgers Coffee. “We made large investments to overcome the technical challenges in making a lightweight plastic container that can withstand the pressure changes that occur between the factory and the consumer`s home,” said Steve Jemison, P&G chief legal officer, in a statement. “Many innovations in this container are covered by P&G patents, which we believe Maxwell House has infringed.”

IRAN’S THUMB BUM
President Bush yesterday challenged the United Nations to join hands to stop state-sponsored terror – but Iran’s boorish leader gave him a very visible thumbs-down instead. Bush ticked off a list of blows against terrorist states since 9/11 and…

RANTING LOON GETS HIS 15 MINUTES OF BLAME
Iranian President Mahmoud Ahmadinejad used his annual 15 minutes of attention to predict doom for Israel, the “American empire” and “the bullying powers” of the West. The half-hour-plus rant was a rerun of his 2007 speech, when Ahmadinejad blasted…

Emerging Markets Report: Russia Bank Turmoil Continues; S&P Cuts Outlooks On 7 Banks
In the latest signs of the ongoing turmoil in the Russian banking sector, a state-controlled bank buys a 98% stake in troubled Svyaz Bank Tuesday, while Standard and Poor?s changes its ratings outlooks on seven Russian banks to stable from positive.

In the latest signs of the ongoing turmoil in the Russian banking sector, a state-controlled bank buys a 98% stake in troubled Svyaz Bank Tuesday, while Standard and Poor?s changes its ratings outlooks on seven Russian banks to stable from positive.