Press Releases

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has assigned an issuer credit rating (ICR) of "bbb-" to Valley Baptist Health System (VBHS) and its two cornerstone facilities, Valley Baptist Medical Center-Harlingen (VBMC) and Valley Baptist Medical Center-Brownsville (VBMC-B) (Brownsville, TX). The outlook for these ratings is stable.

Concurrently, A.M. Best has affirmed the financial strength rating (FSR) of B (Fair) and downgraded the ICR to "bb" from "bb+" of Valley Baptist Insurance Company (VBIC). The outlook for these ratings remains negative. All companies are domiciled in Harlingen, TX, unless otherwise specified.

The rating of VBHS is driven by its improved operational metrics, relatively stabilized debt service coverage and excellent quality score indicators. VBHS has experienced improved operating results, albeit still negative at fiscal year-end 2009, largely due to the impact of Hurricane Dolly. Debt coverage ratios have improved moderately and are expected to improve even further with cost cutting initiatives and projected increased volume levels.

Offsetting factors include VBHS's high leverage, low liquidity and continued challenges related to its service area demographic. VBHS has experienced a declining days cash on hand ratio due to shortage of cash as a result of Hurricane Dolly and investment losses. The system also maintains a relatively high leverage ratio. VBHS operates in an unfavorable service area, providing health care services for a large indigent population.

A.M. Best does recognize, however, that despite these financial challenges, VBHS was able to generate a modest operating return to support the future health care needs of the community.

The needs are further supported by the system's insurance subsidiary, VBIC. In 2009, the health plan reported fluctuating underwriting results, including a sizeable loss through the third quarter. Additionally, VBIC's low level of both absolute and risk-adjusted capitalization remains a concern. A.M. Best does note that VBIC plays an important role as the strategic affiliate of VBHS, which provides quality health care in the Harlingen and Brownsville service areas. Going forward, A.M. Best will continue to monitor VBIC's level of both integration and support derived from its relationship with VBHS.

For Best's Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

    Source: A.M. Best Company

NEW YORK--(BUSINESS WIRE)-- Fitch expects to rate Nelnet Student Loan Trust 2010-1 notes as follows:

--$523,269,000 student loan asset-backed notes 'AAA/LS1'; Outlook Stable.

For more information, see the Nelnet Student Loan Trust 2010-1 presale report, available to all investors on Fitch's web site at www.fitchratings.com.

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

AUSTIN, Texas--(BUSINESS WIRE)-- Whiting USA Trust I (NYSE: WHX) announced the Trust distribution of Net Profits for the fourth quarterly Payment Period of 2009.

Unitholders of record on February 19, 2010 will receive a distribution amounting to $9,194,272 or $0.663181 per unit payable February 26, 2010.

Volumes, Price and Net Profits for the Payment Period were:

Sales Volumes:

Oil (Bbls)                                    201,622

Natural Gas (Mcf)                             885,411

Total (BOE)                                   349,191

Average Sales Prices:

Oil (per Bbl)                                 $64.40

Natural Gas (per Mcf)                         $3.52

Gross Proceeds:

Oil Sales                                     $12,983,853

Natural Gas Sales                             3,112,395

Total Gross Proceeds                          $16,096,248

Costs:

Lease Operating Expense                       $5,957,634

Production Taxes                              1,174,664

Realized Gains on Hedge Settlements           (1,553,393  )

Total Costs                                   $5,578,905

Net Profits                                   $10,517,343

Percentage allocable to Trust's               90          %

Net Profits Interest

Total cash available for the Trust            $9,465,609

Provision for estimated Trust expenses        (200,000    )

Montana state income tax withheld             (71,337     )

Net cash proceeds available for distribution  $9,194,272

Trust units outstanding                       13,863,889

Cash distribution per Trust unit              $0.663181

In addition, Whiting USA Trust I announced certain information relating to the December 31, 2009 reserve report of the underlying properties in which the Trust has an interest. The Trust holds a net profits interest, which terminates when 9.11 million barrels of oil equivalent ("mmBOE") have been produced and sold from the underlying properties (which amount is the equivalent of 8.20 mmBOE in respect of the Trust's right to receive 90% of the net proceeds from such reserves pursuant to the net profits interest). Based on the reserve report from the Trust's independent petroleum engineer for the underlying properties as of December 31, 2009, the remaining balance of 6.3 MMBOE (5.7 MMBOE at the 90% NPI) is expected to be produced by August 31, 2018, which compares to the December 31, 2021 projected date in the December 31, 2008 reserve report. This acceleration in the projected termination date is primarily attributable to changes in pricing assumptions used in the independent engineers' reserve report as of December 31, 2009 as compared to the reserve report prepared as of December 31, 2008. The average wellhead oil price increased 42% between years, was partially offset by a 36% decline in the average wellhead natural gas price between years. The application of net higher prices in reserve estimates extends the estimated economic producing lives and increases the estimated overall recoverable reserve quantities of wells producing at lower rates. The projected time to produce the remaining reserves attributable to the Trust is therefore reduced. Numerous uncertainties are inherent in estimating reserve volumes and values, and the estimates are subject to change as additional information becomes available. The reserves actually recovered and the timing of production of the reserves may vary significantly from the estimates.

This press release contains forward-looking statements, including all statements made in this press release other than statements of historical fact. No assurances can be given that such statements will prove to be correct. The announced distributable amount is based, in part, on the amount of cash received or expected to be received by the Trust from Whiting Petroleum Corporation pursuant to the net profits interest with respect to the relevant quarterly period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust, fluctuations in oil and natural gas prices, uncertainty of estimates of oil and natural gas reserves and production, risks inherent in operation and production of oil and gas properties and future production costs. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trustee does not intend, and assumes no obligation, to update any of the statements included in this press release.

    Source: Whiting USA Trust I