COLUMBUS, Ohio, Nov. 16 /PRNewswire-FirstCall/ -- As a result of the recently announced actions of Franklin Credit Management Corporation and related deterioration in Franklin's mortgage portfolios, 2007 fourth quarter results for Huntington Bancshares Incorporated (Nachrichten) (Nasdaq: HBAN; http://www.huntington.com/) are expected to include an after-tax charge of up to $300 million, or $0.81 per common share, to replenish and build the allowance for loan and lease losses in support of the Franklin relationship. As a result of this charge, Huntington will report a 2007 fourth quarter net loss.

"For over 17 years Sky Financial had a commercial lending relationship with Franklin Credit Management Corporation. This became our relationship when we acquired Sky Financial on July 1, 2007," said Thomas E.

Police Search For Suspected Credit Card Thieves

It appears some credit card thieves are getting a head start on their holiday shopping.

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Water authority votes against rate hike

Greater Johnstown Water Authority customers will not see a rate hike next year.By a narrow margin, authority board members voted Thursday to restructure debt and borrow $5 million in lieu of raising water prices for the first time since 1998."We don't want to raise rates unless we have to," board member Mark Wissinger said.The authority needs extra cash to meet debt obligations and to fund annual improvements for a system that serves nearly 22,000 customers.Officials mulled rate increases ranging from 5 percent to 25 percent.But on Thursday, board members rejected a proposal to refinance, borrow and also impose a 5 percent rate hike – which would have meant that an average customer paid about $1.25 more monthly.Instead, on a 5-4 vote, the board approved a financing plan with no rate increase.The move involves borrowing $5 million, refinancing a $1.4 million mortgage on the authority's new headquarters and restructuring existing debt.That plan, officials said, will lower annual debt payments and eliminate the need for an immediate rate boost.But it also will mean that the authority will pay much more interest in the long term, a fact that did not sit well with some."I just think there could be other alternatives to issuing debt," board member Jay Follansbee said.

(AFX UK Focus) 2007-11-13 15:51 GMT: AMR, American Airlines' outlook raised to positive - Fitch

MUMBAI (Thomson Financial) - Fitch Ratings said it raised the outlook on the debt ratings of AMR Corp and its principal operating subsidiary American Airlines Inc to positive from stable on the progress made by the air carrier in debt reduction throughout 2007.

The ratings agency said its expectation that the airline can deleverage its balance sheet further inspite of record-high jet fuel costs and a challenging US economic outlook moving into 2008, is another prime reason for the outlook revision.

Fitch also affirmed the issuer default ratings of AMR and its subsidiary at 'B-'.

The outlook reflects its view that further de-leveraging could drive an upgrade of AMR's IDR to 'B' in the near term. It, however, added that further spikes in jet fuel costs could curb free cash flow of the carrier, Fitch said.

Mortgage Company to sponsor home buyer's seminar Tuesday

The Mortgage Company is sponsoring a home buyer's seminar. People who are currently in the process of buying a home, starting to look for a home or even thinking about purchasing a home are encouraged to attend.The event is scheduled from 7 p.m. to 8:30 p.m. Tuesday at the Best Western Convention Center. Information regarding mortgage revenue bond loans, rural development loans, FHA loans, conventional loans and first-time home buyers loans with a 15 to 20 percent down-payment subsidy will be provided.The presenters include: Michael Boughfman, the McPherson branch loan officer, and owners of The Mortgage Company, Randy Graham and Larry Curran.Information regarding loan program requirements and guidelines, tips for making the financing process go more smoothly and answers to questions will be presented.