Investing
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Fitch Ratings announced last week that it has downgraded the R.I. Economic Development Corporation’s approximately $243 million in outstanding R.I. Airport Corporation senior-lien general airport revenue bonds to “BBB+” from “A-.” Fitch revised the rating outlook to stable. more
Mark Gim was appointed The Washington Trust Co.’s executive vice president for wealth management in May. The post is in addition to his existing position as treasurer for both The Washington Trust Co. and its publicly owned holding company, Washington Trust Bancorp Inc. more
Fitch Ratings Ltd. has assigned a rating of “BBB” to $58 million R.I. Health and Educational Building Corp. higher education facilities revenue refunding bonds, issued on behalf of Roger Williams University. more
The story of a silent-film studio founded nearly 100 years ago in Providence might have been lost to time if not for the efforts of a recent Rhode Island College graduate. more
PROVIDENCE – The University of Rhode Island, Rhode Island College and Brown University are pursuing a joint mixed-use redevelopment of the former South Street Power Station that would include an advanced nursing school, administrative offices, classrooms and student apartments, Brown announced last week. more
Measured in volume, economic-development proposals dominated Rhode Island’s 2013 legislative session. more
Jorge Moran, who has led Sovereign Bank since late 2010 as its CEO, has left both the bank and its parent company Santander Holdings USA Inc., Boston Business Journal reported last week. more
In Rhode Island’s competitive banking landscape, Sovereign Bank is preparing its new signage and assuring commercial and consumer customers of a seamless transition as well as enhanced local and global services when it, at last, becomes Santander Bank on Oct. 17. more
Over the past three decades, interest rates have steadily declined. Now that rates are finally rising, bond as well as equity investors should be wary of certain areas in the markets. Investors must be aware that rising interest-rate pain is not limited to long-term bonds. There are a number of sectors in your portfolio that can be negatively affected by rising interest rates. more
Security and Exchange Commission rule changes that include requiring angel investors to file financial information with a third party in order to invest in startups that do public solicitation for funding has investment groups and entrepreneurs in Rhode Island and across the nation up in arms. more
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