Press Releases

Resort Raises the Bar for Lake Havasu Hotels

LAKE HAVASU, Ariz.--(BUSINESS WIRE)-- MJS Hotels today announced that a property-wide renovation of Nautical Beachfront Resort’s 139 lakefront rooms and suites is underway with completion anticipated early in May. The rooms renovation is the second of three anticipated phases that will transform the historic resort.

The latest upgrades include all new wall coverings, draperies, carpet, flat screen televisions, beds and bedding and custom-made desks and tables at a cost of approximately $10,000 per room. The renovation follows a $1.6 million addition of the state’s largest infinity pool, WET, last summer and a new welcome center that was dedicated in September.

According to Si Sloman, principal, MJS Hotels, which operates the resort, last summer’s improvements have contributed to a marked increase in demand with Revenue Per Available Room (RevPAR) up by 27% and shoulder season occupancy approaching 50 percent compared to 10 percent in years past.

“Last year, we raised guests’ expectations of a Lake Havasu vacation by adding resort features that are unique in this market,” noted John Bozzo, managing partner of RW Partners, LLC, the property’s Phoenix-based owners. “The room upgrades are a natural next step and will set the stage for a new day spa, fitness center and upgraded restaurants that are currently on the drawing board for 2013.”

Not only is WET Arizona’s largest infinity pool, the poolside cabanas, complete with flat screen televisions, and WET bar, are new to Lake Havasu hotels.

“Nautical Beachfront Resort is a Lake Havasu icon, and as we upgrade the property to meet the demands of present and future guests, we are also paying tribute to the area’s heritage. The art work that we’ve chosen, including black and white images made by local photographers, will reflect the area’s history and Nautical’s place in it,” noted Sloman. “When the update of our room product is completed this spring, the Nautical will completely surpass anything else in the market.”

“Nautical Beachfront Resort quite literally launched Lake Havasu City as a vacation destination in the 1960s,” added Sloman. “I fully anticipate that these renovations and the next phase of improvements, will drive the next wave of development and resort improvement in Lake Havasu.”

About RW Partners, LLC

Nautical Beach Resort is owned by RW Partners, LLC. Headquartered in Phoenix, Ariz., RW Partners is a real estate and investment firm that invests in individual properties and portfolios. Its diverse investment portfolio includes land, multi-family, retail, office, industrial, ministorage, resort/hotels and lending.

About MJS Hotels

MJS Hotels, a national, full-service owner and third-party management company with offices in Phoenix, Ariz., Danbury, Conn. and West Palm Beach, Fla. operates the Nautical Beach Resort. MJS Hotels principals—William Meyer, Richard Jabara, and Si Sloman—bring more than 100 combined years of hotel experience and are actively engaged in each property they operate. The company currently manages a portfolio of 35 hotels under the industry’s leading brand families, including Marriott, Hilton, Intercontinental Hotel Group, Hyatt, Starwood and LaQuinta, as well as independent boutique hotels and resorts.

About Nautical Beachfront Resort

Nautical Beachfront Resort is Arizona’s only beachfront resort, offering 1,000 feet of prime Lake Havasu beach frontage. The resort’s history is tied to the history of the city itself, as it was built to accommodate visitors brought in by founder Robert McCullough as he was developing the planned community that is today’s Lake Havasu City. The original Nautical Inn opened in 1964 with only 16 rooms, a cocktail lounge and a 180-seat dining room with a view of Thompson Bay, and quickly became a local favorite, as well as “the” place to stay for real estate shoppers. The Bay Rooms and Cove Suites were added in 1969.

Daly Gray, Inc.Lauralee Dobbins, media(703) 435-6293Lauralee@dalygray.com

Source: MJS Hotels

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings assigns the following ratings to the variable certificates of the various AUSTIN Trusts listed below:

--Series BOA 1003 variable certificates -- 'AA+/F1', Stable Outlook;

--Series BOA 1075 variable certificates -- 'AAA /F1', Stable Outlook;

--Series BOA 1079 variable certificates -- 'AAA/F1', Stable Outlook;

--Series BOA 1098 variable certificates -- 'AA-/F1', Stable Outlook;

--Series BOA 1104 variable certificates -- 'AA+/F1', Stable Outlook;

The long-term 'AA+', Stable Outlook rating assigned to the series BOA 1003 is based on the rating that Fitch has assigned to the Maryland Health and Higher Education Facilities, revenue bond, The Johns Hopkins University Issue, series 2004A (rated 'AA+', Stable Outlook) that have been deposited in the AUSTIN Trust Series BOA 1003.

The long-term 'AAA', Negative Outlook rating assigned to the series BOA 1075 is based on the rating that Fitch has assigned to the New York City Transitional Finance Authority, future tax secured subordinate bonds, fiscal 2007 series B (rated 'AAA', Stable Outlook) that have been deposited in the AUSTIN Trust Series BOA 1075.

The long-term 'AAA', Stable Outlook rating assigned to the series BOA 1079 is based on the rating that Fitch has assigned to the New York City Transitional Finance Authority, future tax secured subordinate bonds, fiscal 2007, series B (rated 'AAA', Stable Outlook) that have been deposited in the AUSTIN Series BOA 1079.

The long-term 'AA-', Stable Outlook rating assigned to the series BOA 1098 is based on the rating that Fitch has assigned to the Illinois Finance Authority, insured revenue bonds, series 2008 A (The Children's Memorial Hospital) (rated 'AA', Stable Outlook) that have been deposited in the AUSTIN Series BOA 1098.

The long-term 'AA+', Stable Outlook rating assigned to the series BOA 1104 is based on the rating that Fitch has assigned to the San Diego Water Authority, water revenue certificates of participation, series 2008A, due May 1, 2027 and due June 1, 2028, (rated 'AA+', Negative Outlook) that have been deposited in the AUSTIN Trust Series BOA 1104.

The 'F1' short-term ratings assigned to each series of variable certificates are based on the liquidity facilities provided by Bank of America, National Association (rated 'A/F1', Stable Outlook). The short-term ratings will expire on Feb. 15, 2012, the expiration date for each liquidity facility, unless such date is extended or earlier terminated.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'U.S. Municipal Structured Finance Rating Criteria', April 25, 2011;

--'Guidelines for Rating Tender Option Bond Securities', May 25, 2011.

Applicable Criteria and Related Research:

U.S. Municipal Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=624129

Guidelines for Rating Tender Option Bond Securities

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=632790

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.

Fitch RatingsPrimary Analyst:Helen AnagnostosAssociate Director+1-212-908-0876Fitch, Inc.One State Street PlazaNew York, NY 10004orSecondary Analyst:Richard ParkAssociate Director+1-212-908-0289orCommittee Chairperson:Trudy ZibitManaging Director+1-212-908-0689orMedia Relations:Sandro Scenga, +1-212-908-0278 (New York)sandro.scenga@fitchratings.com

Source: Fitch Ratings

JAKARTA, Indonesia--(BUSINESS WIRE)-- Asia Pulp & Paper Group (APP) today is responding to a report issued by the World Wildlife Fund (WWF) about APP customers’ tissue brands Paseo and Livi sold in the U.S. WWF has launched a campaign targeted at U.S. supermarkets to be more discerning in choosing the tissue paper they supply to consumers.

“The issues that WWF raise in the report are important and we take them seriously in our organization. We agree with WWF that consumers should not have to choose between tigers and toilet paper, and that companies like APP play a crucial role in ensuring that Americans have a choice of high quality, sustainably sourced paper products,” remarked Aida Greenbury, APP’s managing director of sustainability and stakeholder relations.

As an Indonesian company part of APP’s responsibility is to make sure that the rich biodiversity in the country’s forests are conserved. WWF called on APP to undertake three key steps and APP is happy to respond on each point:

1. APP is in the process of engaging experts to conduct High Conservation Value Forest (HCVF) assessments of its directly controlled pulpwood concessions as a first step and then will roll out these assessments across its entire supply base.
2. As with any business entity, opportunities for expansion and investments are reviewed thoroughly by APP for the business to remain competitive. Any future expansion will take into account business viability and alignment with APP’s sustainability values.
3. APP is working with multi-stakeholders, including an international NGO and reputable third parties, to construct its Sustainability Roadmap that includes the key components of increased transparency and sustainable fiber sourcing. An international third party NGO who will monitor the roadmap’s implementation is part of this roadmap.

“We are implementing these changes now but require time as it involves multi-stakeholder collaboration. We commit to transparently reporting on our program in implementing these actions. We embrace sustainability as an important value in all aspects of our operations and supply chain. We recognize the need to ensure that all our supply chain partners act in accordance with our sustainability values and we are taking steps to ensure this is the case. We welcome inputs from all stakeholders, including customers and all responsible NGOs such as WWF to focus on solutions for sustainable paper products,” Greenbury concluded.

About APP:

Asia Pulp & Paper Group (APP) is a brand umbrella for paper products which are produced by several mills in Indonesia such as PT Indah Kiat Pulp & Paper Tbk, PT Pindo Deli Pulp & Paper Mills, PT Pabrik Kertas Tjiwi Kimia Tbk, PT Lontar Papyrus Pulp & Paper Industries, and PT Ekamas Fortuna. APP is headquartered in Indonesia and markets its product to more than 120 countries. Most of APP’s production facilities are Chain-of-Custody certified by LEI and PEFC. APP supports several main conservation initiatives, including a 178,000 hectare Biosphere Reserve in Giam Siak Kecil - Bukit Batu and an area of 106,000 hectare for the Senepis Tiger Sanctuary. Both are located in the province of Riau, Sumatera. Other APP wildlife preservation initiatives include the support of the Kutai Orangutan Program in Kalimantan and the conservation of the Javan Rhino in Ujung Kulon National Park. For more information about Asia Pulp & Paper’s sustainability and conservation initiatives please visit www.rainforestrealities.com.

IndonesiaAPP IndonesiaAniela Mariaaniela_maria@app.co.idorNorth AmericaCohn & WolfeNaomi Bata, +1-312-596-3332naomi.bata@cohnwolfe.com

Source: Asia Pulp & Paper Group