Press Releases

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings assigns an 'AA-' rating to Hydro Quebec's (HQ) $500 million (CAN$) series JN senior unsecured debentures. This series of JN debentures rank equally with Hydro-Quebec's $35.5 billion of outstanding long-term debt securities. This is an additional tranche of the JN debentures, of which, $1 billion is currently outstanding. In addition, the Rating Outlook is revised to Stable from Positive.

Fitch also affirms HQ's existing ratings as follows:

-Long term Issuer Default Rating (IDR) at 'AA-';

-Short-term IDR at 'F1+';

-Unsecured debentures at 'AA-';

-Medium term notes at 'AA-';

-Commercial paper at 'F1+'.

The Outlook revision to Stable primarily reflects Fitch's revised outlook for the Province of Quebec (IDR of 'AA-'; Outlook to Stable, on May 15, 2009). HQ's ratings are supported by an unconditional and irrevocable guarantee by HQ's sole owner, the Province of Quebec (the Province). The bond proceeds will be used to finance a portion of capital expenditures, refund outstanding debt, and/or for general corporate purposes. All of the series JN debentures have a final maturity of Feb. 15, 2050, a 5% coupon, and are underwritten by a syndicate of Canadian banks.

HQ's standalone credit quality is derived from its quasi-monopoly position in the province, continued solid consolidated financial metrics consistent with that of other municipal electricity providers in the 'AA-' category, cost-competitive fleet of mostly 'green' hydroelectric power resources (97% of generation), and dispatch flexibility provided by its enormous reservoir system. As of Dec. 31, 2008, HQ's reservoirs provided energy reserves equivalent to 116 terawatt-hours (twh). HQ kwh sales inside Quebec totaled 170.4 twh for the same period in 2008. Additionally, the Regie de L'energie, the utility regulatory authority in Quebec, has approved adequate annual rate adjustments for HQ's distribution and transmission divisions in order to maintain stable financial performance for those divisions.

Since 2008, HQ has embarked on a major, roughly $25 billion capital program (through 2013), which includes the construction of several large hydropower projects, transmission additions and distribution system upgrades. The projects are in varying stages of development and continue to meet important milestones and commissioning dates. By 2013, HQ is projecting to have another 1,000 megawatts (MW) of new hydro-generating capacity on-line (compared to existing capacity of 36,429MW for 2008). While a portion of the new generation is needed to meet modest native load growth, an increasing proportion will be used to increase exported power sales - a credit concern, as off-system revenues are more volatile and fluctuate based on electricity market prices. On a positive note, given HQ's extensive reservoir capacity and its mainly 'green' (non-carbon emitting) power resources, its power resources are likely to remain in demand, both inside and outside of Quebec for the foreseeable future, particularly as the U.S. and Canada increasingly focus on attaining renewable and carbon emission reduction environmental targets.

The key rating drivers Fitch will be monitoring going forward are:

--The credit rating of the Province, the sole shareholder of HQ and guarantor of HQ debt;

--Construction risks associated with build-out of large hydroelectric power facilities and HQ's generation division's ability to manage growing revenue volatility related to increasing sales for export;

--HQ's ability to maintain financial metrics as projected, albeit at slightly weaker levels, to remain in-line with comparable 'AA-' rated municipal utilities;

--HQ will be adding approximately $17.7 billion of debt through 2013; equity capitalization will decline to just under 30%, from 37.7% at fiscal year end (FYE) 2008; interest coverage will fall to 1.75x in 2013, from 2.12x in FYE 2008.

Finally, On Oct. 29, 2009, HQ and New Brunswick Power (a neighboring province-owned utility [NB]) announced an agreement (MOU) under which, HQ would acquire most of the assets of NB for $C4.75 billion (amount equivalent to NB outstanding debt). Included in the quality generation, transmission and distribution assets to be acquired by HQ are NB's Point Lepreau Nuclear Plant (currently being refurbished) and key transmission lines into Maine. Positively, HQ would not assume any liabilities with respect to the Point Lepreau nuclear facility. The transaction is also projected to be accretive to HQ earnings in the first year, with a projected return on equity of more than 10%. Fitch will monitor the proposed acquisition and coordination of the new resources into HQ's generation and transmission resource mix. Pursuant to the MOU, March 31, 2010 is the closing date set for substantially all the asset transfers.

Hydro-Quebec operates one of the two largest vertically integrated electric systems in Canada. HQ provides electricity to virtually all of Quebec, or approximately 3.9 million customers. Quebec is the largest province in Canada in terms of land area, and second largest in terms of population.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

    Source: Fitch Ratings

GREEN BAY, Wis.--(BUSINESS WIRE)-- Second graph, first sentence of release dated November 9, 2009, should read: Beideman will present at 9:20 a.m. CT (10:20 a.m. ET) Thursday (sted Beideman will present at 11:20 a.m. CT (10:20 a.m. ET) Thursday).

The corrected release reads:

ASSOCIATED BANC-CORP TO PRESENT AT SANDLER O'NEILL 2009 EAST COAST FINANCIAL SERVICES CONFERENCE ON NOVEMBER 12, 2009

Associated Banc-Corp (NASDAQ: ASBC) Chairman and CEO Paul Beideman will present an update on the company on Thursday, November 12, 2009 at the Sandler O'Neill 2009 East Coast Financial Services Conference in Palm Beach, FL.

Beideman will present at 9:20 a.m. CT (10:20 a.m. ET) Thursday. To access the Webcast, go to www.sandleroneill.com, go to Conferences tab, then select View Webcast under the East Coast Financial Services Conference heading. Slides from the presentation will be available under "Presentations" on the investors relations portion of the company's website www.associatedbank.com following the presentation.

The archived webcast will be available for 30 days after the event, beginning 11/13/2009 on Sandler O'Neill's site.

Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified bank holding company with total assets of $23 billion. Associated has approximately 300 banking offices serving an estimated 160 communities in Wisconsin, Illinois, and Minnesota. The company offers a full range of traditional banking services and a variety of other financial products and services. More information about Associated Banc-Corp is available at www.associatedbank.com.

    Source: Associated Banc-Corp

On Thursday, November 12, at 1:30 p.m., Secretary of Labor Hilda L. Solis, OPM Director John Berry, Deputy Secretary for Veterans Affairs Scott Gould, and Acting Undersecretary of Defense for Personnel and Readiness Gail McGinn will outline a number of efforts that will be made in support of the launch of the Veterans Employment Initiative.

The event comes just a few days after President Barack Obama's historic signing of the Executive Order on the Employment of Veterans in the Federal Government, which establishes the Initiative.

** Members of the press wishing to cover this event should contact OPM's Office of Communications at 202.369.7777. Media should plan to arrive 15 minutes prior to the beginning of the event.

WHAT: Discussion of the Veterans Hiring Initiative and how the Federal Government will support the employment of Veterans

WHO:

Secretary of Labor Hilda L. Solis

OPM Director John Berry

Deputy Secretary for Veterans Affairs Scott Gould

Acting Undersecretary of Defense for Personnel and Readiness Gail McGinn

WHERE:

The Department of Labor

Secretary's Conference Room

3rd and C Street, NW (2nd Floor)

Washington, DC

WHEN: Thursday, November 12, at 1:30 p.m.

CONTACT: U.S. Office of Personnel Management Office of Communications, +1-202-606-2402

/PRNewswire-USNewswire -- Nov. 11/

SOURCE U.S. Office of Personnel Management

HOUSTON, Nov. 11 /PRNewswire-FirstCall/ -- ExpressJet Holdings, Inc. (NYSE: XJT), parent company of regional and charter airline operator, ExpressJet Airlines, Inc., today reported traffic and capacity results for October 2009.

Scheduled Flying

During the month, ExpressJet revenue passenger miles (RPM) totaled 667 million, and available seat miles (ASM) flown were 848 million. ExpressJet's October load factor, operating as Continental Express, was 78.7%. The company flew 55,469 block hours and operated 29,830 departures during the month as Continental Express.

Corporate Aviation

ExpressJet flew 635 block hours during the month in its Corporate Aviation (charter) division. ExpressJet's fleet within the Corporate Aviation division consisted of eight 41-seat aircraft and 22 50-seat aircraft.

All Flying

ExpressJet had a total of 244 planes in its fleet during October - 214 allocated to flying as Continental Express and 30 operating in its Corporate Aviation division.

About ExpressJet

ExpressJet Holdings operates several divisions designed to leverage the management experience, efficiencies and economies of scale present in its subsidiaries, including ExpressJet Airlines, Inc. and ExpressJet Services, LLC. ExpressJet Airlines serves 130 scheduled destinations in North America and the Caribbean with approximately 1,100 departures per day. Operations include a capacity purchase agreement for Continental; providing clients customized 41-seat and 50-seat charter options (www.expressjet.com/charter); and supplying third-party aviation and ground handling services. For more information, visit www.expressjet.com.

                           EXPRESSJET HOLDINGS, INC. AND SUBSIDIARIES
                                     PRELIMINARY STATISTICS

                            Month Ending    Month Ending
                            October 31,       October 31,      Year Over
                               2009              2008          Year Change
                         Conti-            Conti-            Conti-
                        nental  Corporate  nental  Corporate nental Corporate
                        Express  Aviation  Express  Aviation Express Aviation

    Revenue Passenger
     Miles (millions)        667               616                8%
    Available Seat
     Miles
     (ASM) (millions)        848               814                4%
    Passenger Load
      Factor               78.7%             75.7%           3.0 pts
    Block Hours           55,469     635    53,091     502        4%    27%
    Departures            29,830            28,059                6%
    Stage Length             571               582               (2%)
    Fleet                    214      30       214      30        0%     0%

                         Conti-            Conti-            Conti-
                        nental  Corporate  nental  Corporate nental Corporate
    Year to date        Express  Aviation  Express  Aviation Express Aviation

    Revenue Passenger
     Miles (millions)      6,518             6,667               (2%)
    Available Seat Miles
     (ASM) (millions)      8,437             8,608               (2%)
    Passenger Load Factor  77.3%             77.5%         (0.2) pts
    Block Hours          546,317  17,105   582,674   6,985       (6%)   n/m
    Departures           290,714           305,186               (5%)
    Stage Length             582               580                0%
    Fleet                    214      30       206      13        4%    n/m

SOURCE ExpressJet Holdings, Inc.

CLEVELAND, Nov. 11 /PRNewswire/ -- No matter what your economic situation, your child may be eligible for a $3,000 scholarship from Cleveland State University (CSU). It's called the Freshman Scholars Program, and it will be awarded to new full-time freshmen who enter in Fall 2010 with a minimum 3.0 cumulative GPA and an ACT Score of 23 or a combined 1060 SAT total score.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091111/CL09768LOGO )

"In these difficult economic times Cleveland State wants parents to know that we want to help with significant scholarships for their qualifying sons and daughters," explained Robert Spademan, Assistant Vice President of Admissions. "Cleveland State University understands the added economic burden that families face when sending children to college during these stressful times."

February 1, 2010 is the last day to apply for the Freshman Scholars Program, so it is important to submit an application as early as possible. Incoming freshmen can apply online at www.engagecsu.com.

The $3,000 scholarship is renewable by maintaining a 3.0 cumulative GPA for full-time students. Accordingly, a four-year scholarship can be worth as much as $12,000. With CSU tuition at about $8,000 per year, the Freshman Scholars Program reduces annual tuition by 36 percent.

At the recent Cleveland State Admissions Fall Visit Day Program, news about the Freshman Scholars Program received enthusiastic response from an audience of more than 500 parents and prospective students. With more than 200 majors and programs, CSU offers a complete academic portfolio coupled with a $500 million campus transformation, new residence halls on campus, NCAA Division I sports and more. Parents can make a 5-minute visit online at www.engagecsu.com.

"We created this program to help incoming freshmen and their families at a time when they are looking for an outstanding education at a reasonable price," added Spademan. "This new program gives parents a way to recognize and reward their children for maintaining good grades and test scores while in high school."

For more information about the Cleveland State University Freshman Scholars Program, visit www.engagecsu.com or www.engagecsu.com/contact.html.

SOURCE Cleveland State University