Top Articles to Help You Lead A Debt-Free Life

• Debt Consolidation: “Debt Consolidation” is one of the most commonly misunderstood and misinterpreted personal finance strategies that consumers inquire about all the time. While some view it as a method of taking on new loans, others see it as a debt relief alternative. It is more important than ever for inquisitive consumers to have a very strong understanding of exactly what debt consolidation entails, and the impacts it can have on personal finances.
• Debt Relief: Debt relief is defined as a partial or total forgiveness of debt. When the term is used by the government, it usually refers to the forgiveness of debt to underdeveloped countries. Recently, it has begun to refer to the millions of consumers who are overwhelmed with debt seeking financial relief from their unsecured debt.
• Credit Card Debt: Credit card debt is an example of unsecured consumer debt, accessed through credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent.
• Debt Settlement: Debt settlement programs use a third party to negotiate lower balances and interest rates on unsecured debt. This type of debt management plan helps provide consumers an alternative to bankruptcy while reducing your outstanding debt.
• Credit Counseling: There are a numerous options for consumers who want to start getting their finances under control after accumulating large amounts of debt, which could inevitably lead to credit problems further down the road. Consumers who are in control of most aspects of their finances, but still feel like they could use additional help managing their debt burden, could certainly benefit from the assistance of a consumer credit counseling service.
• How Do I Get Out of Debt?: Now that the national economy is beginning to recover and people are having a better time dealing with their personal finances, many consumers who found themselves sunk deep in debt over the last few years may be asking themselves the question, “How do I get out of debt?” Fortunately, there are a number of avenues consumers can take to get out of debt, each with benefits and drawbacks depending on how quickly people need to fix their financial problems.
• 10 Tips to Avoid the Debt Trap: Have you ever thought about why so many of the people you know are struggling with debt? Do you ever wonder why banks keep lending to certain individuals, even when they are falling behind on their payments? Did you know that debt problems are a leading cause of major societal problems, such as stress, divorce and alcoholism?
• Credit Management: Many consumers are finding themselves buried under a pile of mounting debt. With interest accumulating month after month in addition to late fees being charged, many consumers are finding it difficult to make just the minimum payments on their credit cards. Although this may seem like an endless battle, with a strict budget and some discipline there are credit management strategies and solutions that will allow consumers to reduce or even eliminate their debt.
• Credit Card Debt Reduction: In recent months, many Americans have made a greater effort to seek credit card debt reduction and reduce the balances they owe, but some may not know where to start. Fortunately, there are several options available for consumers thathave a financial goal to achieve credit card debt reduction.
• Credit problems: Paying down high levels of debt is one of the best ways to improve credit problems and increase one’s credit standing. But many people cannot do that so quickly, especially in this economy. About one-third of a credit score is based off of a credit utilization ratio, which is the total creditbalances divided by the total credit limits. A great target is to use no more than 30% of one’s available credit.

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If you knew nothing about US economic policy over the past decade or so, looking at this chart from the St. Louis Fed would certainly give you the idea that Washington did something to a) make housing more affordable to low-income households and b) to boost housing prices (and thus the incomes of low-income households). As the bank notes, It is important to remember that low-income households are more likely to have extracted home equity by using non-traditional mortgages and home-equity lines of credit, which would also explain the disparity across income groups. A bit more:

Continuing problems in the US housing market are a significant concern for the ongoing economic recovery. The drop in US home prices since their peak in 2006 caused household wealth to decline by around $7 trillion. Prior to this wealth shock, home prices increased rapidly for over a decade the appreciation in house values and the associated rise in home equity from the 1950s to the early 1990s seems to closely match the growth in personal disposable income (ie, income net of taxes).

Even before 2000, the increase in home equity did not appear disparate to the growth in personal disposable income. However, the two series show a growing “misalignment” after 2000, which was accompanied by the rapid growth of nontraditional mortgages from 2000 through 2006.

The increase in the supply of credit, especially credit facilitated by nontraditional mortgages, particularly for subprime mortgages, is believed to have contributed in no small measure to this misalignment. First, these mortgages provided an opportunity for homeownership–especially for first time home buyers–in an environment of rapidly increasing home prices by lowering the initial down payment. Second, subprime mortgages were designed as credit accommodation and debt consolidation products, which depend on the appreciation of the underlying asset rather than the ability of the borrower to repay the loan. Third, these mortgages encouraged investors to speculate in the housing market; some estimates show that investors account for half of purchase originations in states that experienced the largest housing booms and busts.

And, of course, we know what the reality is (and what happened to housing prices afterward). In the 1990s, Washington began to look at housing policy as social welfare policy, as outlined in the book Reckless Endangerment:

The mortgage crisis started with the housers–President Clinton and others who pushed for creative mortgage financing because they believed more Americans should own their own homes.

Then quasi-public Fannie Mae and Freddie Mac did away with their traditional underwriting criteria. That resulted in a wave of new mortgages and produced profits that pumped up executive bonuses at both institutions.

Then private mortgage execs took cues from Fannie and Freddie and wrote loans for individuals who would not have been deemed creditworthy a few years earlier. The problem was exacerbated by a mix of new products, corporate chutzpah, understaffed regulatory agencies and government moves opening lending, lowering reserve requirements and loosening appraisal rules.

Now, Mitt Romney said last night that if elected he might eliminate the Department of Housing and Urban Development. Hes also no fan of Fannie and Freddie and the whole GSE housing model. They all give Washington the means and the motive to use government to distort markets. And when you distort markets, this is what you get:

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The desire to eliminate debt often leads people to take out a debt consolidation loan. However consumers must have a plan in place for determining if the loan really does benefit them or will cost them more in time and money than the debt they were trying to pay off. Accredited Financial Counselor Caeleigh Villarreal of American Financial Solutions helps shed light on this topic.

Seattle, WA (PRWEB) April 02, 2012

In a recent, non scientific poll conducted by Navy Federal Credit Union consumers were asked, “If you were to take out a Personal Loan what would you use it for?” Nearly 55% of respondents said they would use it for debt consolidation. Unfortunately though, these type of loans may not provide the debt relief people are looking for. According to Accredited Financial Counselor, Caeleigh Villarreal of American Financial Solutions, the two primary reasons people use debt consolidation loans to pay off debt are to:

[1] Have one, lower monthly payment

[2] Get out of debt

However Mrs. Villarreal says, borrowers may not get the deal they are looking for. “You’re not paying off the debt. You’re just changing the loan.” Her point is that while you will not owe the debt to several creditors – you will still owe the same amount. Villarreal also says that if you are using balance transfers to consolidate you may be losing money. “Often there are transfer fees of up to 5% of the balance associated with these accounts. You have to determine if those fees outweigh the benefits of making the transfer.”

Another consideration when paying off the debt is the lower payment. It feels better on the pocketbook to go from paying $300 a month on $10,000 worth of debt to $132, but it will cost a lot more over time.

Consider this example: assume $10,000 in debt

On credit cards (not consolidated), an average interest rate of 13.9% will take approximately five years to pay at $300 a month. The total interest repaid will be $2,711.

On a consolidation loanwith an interest rate of 10.00% it will take 10 years to pay the debt at $132.50 a month. The total interest repaid will be $5,900.

You save money on a month-to-month basis, but lose twice what you would have paid in interest if the debt had been left on the credit card.

Debt consolidation can be a, “quick way to double your debt,” says Villarreal. “People take out the loan, but don’t close their accounts and they end up using the credit cards again.” The key is to pay off any debts and credit cards you are consolidating and to then close the credit card accounts.

Finally Mrs. Villarreal offers these tips when considering a debt consolidation loan:

[1] Read the small print and understand the interest rates. On a balance transfer, “Typically the interest rate is a promotional rate and is only good for 6 months to a year.”

[2] In the past, it has been tempting for people to use their house as collateral for the loan. Villarreal says this is not a good idea, “You are changing unsecured debt into secured debt and, because of the length of the loan you will pay back more money in interest than you save in payments.” In addition, if you cannot make the loan payments you risk losing your home.

[3] Contact a reputable credit counseling agency and have them complete a budget with you. A certified credit counselor will help you review your best options for getting out of debt. Credit counseling agencies can offer you a Debt Management Plan that, through creditors, provides benefits such as reducing interest rates, reducing payments and stopping late fees. According to Villarreal, “the DMP provides the best benefit if your goal is to get out of debt.”

“Remember,” says Villarreal, “debt consolidation loans are not a plan for getting out of debt.” To create a plan, talk to a legitimate, non-profit credit counseling agency that can help people find the best options for truly, getting out of debt. Contact the National Foundation for Credit Counselor or the Association for Independent Consumer Credit Counseling Agencies to locate a credit counseling agency.

American Financial Solutions (AFS) is a non-profit 501(c)3 financial education and credit counseling agency that helps people find solutions for managing their money and improving their financial lives. Since 1999, AFS has helped individuals across the United States through one-on-one counseling, classes and the use of debt management plans. AFS is a member of the National Foundation for Credit Counseling (NFCC) as well as the Association for Independent Consumer Credit Counseling Agencies (AICCCA). AFS is also accredited by the Council on Accreditation (COA) and has an A+ rating by the Better Business Bureau. Find us and add us on Facebook, Twitter and Google+.

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/4/prweb9352760.htm

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We also affirmed the issue rating on the Russian ruble (RUB) 20 billion ($676 million)
7.875% loan participation notes due 2015 issued by orphan special-purpose vehicle RusHydro
Finance Ltd. (not rated) at BB+. We also affirmed the BB+ issue rating on the RUB20 billion
proceeds loan lent on by RusHydro Finance Ltd. to RusHydro. Our recovery rating on this loan is
unchanged at 3, reflecting our expectation of meaningful (50%-70%) recovery in the event of a
payment default.

Rationale

The outlook revision reflects our view that RusHydro could struggle to restore its financial
risk profile to levels we would consider commensurate with the long-term rating. This is a
result of our revised financial projections that forecast increasing debt leverage for RusHydro,
which is primarily a result of:

– The acquisition of a 69.3% stake in RAO ES of East (not rated) in late 2011 and the
effects of the consequent debt consolidation;

– Regulatory pressure, including the unexpected removal of the special investment component
from RusHydros revenues and maintenance of price caps, which limit RusHydros earnings
potential; and

– Our expectations of negative free operating cash flow (FOCF) generation stemming from a
large-scale investment program.

We estimate that, following the acquisition of RAO ES of East, the companys adjusted
debt-to-EBITDA ratio will be about 1.8x in 2011 and 2.8x-2.9x in 2012. We think that this is a
temporary deviation and that RusHydro should be able to restore its financial risk profile as of
2014 and thereafter. In our opinion, an adjusted debt-to-EBITDA ratio of 2.5x is commensurate
with the current long-term rating, all else being equal.

We view the unanticipated RAO ES of East transaction as an example of negative intervention
by the government and a sign of weak corporate governance. We think the government imposed this
transaction on RusHydro to help develop the infrastructure in Russias Far East, and, although
this reinforces the companys close links with the government, it also highlights the limited
autonomy of the companys management.

It also highlights an unexpectedly aggressive financial policy, which weighs on our
financial risk profile assessment. Furthermore, we see the acquisition as dilutive for the
companys business risk profile, as the acquired thermal generation assets are less profitable,
old, and in need of upgrading, and fall outside of RusHydros core strategy of producing
electricity from renewable sources.

We note that because of the governments recent decision, the company is unlikely to
exercise the sale of 11% of its treasury shares to Vnesheconombank (BBB/Stable/A-3;
BBB+/Stable/A-2) for RUB64 billion, which we viewed as a funding source for the companys
investment program. In our base-case scenario, however, we assume RusHydro will scale down its
investment program for 2012-2014 accordingly, in order to restore its key credit metrics to
levels commensurate with the current long-term rating.

We do not incorporate the potential inflows related to a future sale of Far East
Distribution Co. (not rated), because the pricing and timing of the deal is uncertain. However,
if realized, this transaction might reduce RusHydros need for new debt to finance its
investments.

The ratings on RusHydro reflect the companys low production costs, given that 75% of
RusHydros generating capacities relate to hydrogenation; stronger-than-industry-average
profitability, even after consolidation of RAO ES of East; a geographically diverse generation
portfolio in Russia; and good access to capital markets.

These strengths are offset in our opinion by RusHydros exposure to the volatile spot
electricity market, aging assets, significant investment needs, and a massive capital-spending
program that we think will result in negative FOCF, and weather risks related to hydrological
conditions.

We assess RusHydros stand-alone credit profile (SACP) at bb on the basis of the companys
fair business risk profile and significant financial risk profile as our criteria define
those terms. We analyze RusHydro using our criteria for government-related entities. Our
expectation of a moderately high likelihood of extraordinary government support is based on
our assessment of RusHydros important role for and strong link with the government.

Liquidity

The short-term rating is B. We consider RusHydros liquidity to be adequate under our
criteria, and calculate that liquidity sources will exceed liquidity uses by about 1.2x over the
next 12 months. As of Dec. 31, 2011, we estimate the company had liquidity sources of about
RUB84 billion. These include:

– Unrestricted cash and equivalents of RUB31 billion, although some of it is tied to
operations;

– A RUB8 billion available credit line from the European Bank for Reconstruction and
Development (AAA/Stable/A-1+) maturing in 2021 and EUR128 million from UniCredit Bank
Austria AG (A/Negative/A-1) with maturity in 2026; and

– Our projections for funds from operations of about RUB40 billion for 2012.

We estimate that RusHydros liquidity needs over the next 12 months to be about RUB68
billion, comprising:

– Debt maturities of about RUB9 billion in 2012;

– Capital expenditures of at least RUB58 billion (excluding value-added-tax and the
construction of the Boguchanskaya Hydro Power Plant and an aluminum plant [BEMA project]),
although we believe that the actual spending will depend on the availability of funding and
RusHydro has some flexibility in its capital expenditures; and

– Dividend payments of about RUB1 billion in 2012.

The company is subject to several covenants under its existing financial obligations. For
example, it must keep total debt under a maximum of 3x EBITDA. We understand that the company is
compliant with all the covenants in 2012-2013, although with little headroom. According to the
documentation, a breach of covenant would not lead to an acceleration of the loans and therefore
we would not consider it to be an event of default.

Recovery analysis

The issue rating on the RUB20 billion 7.875% loan participation notes due 2015 issued by
orphan special-purpose vehicle RusHydro Finance Ltd. is BB+, the same as the issue rating on
the RUB20 billion proceeds loan lent on by RusHydro Finance Ltd. to RusHydro. The recovery
rating on the proceeds loan is 3, indicating our expectation of meaningful (50%-70%) recovery
in the event of a payment default.

The recovery and issue ratings are supported by our valuation of the business as a going
concern in the context of our hypothetical default scenario, but mitigated by the unsecured
nature of the rated instruments; the Russian insolvency regime, which we view as unfavorable for
creditors; and the potentially negative impact that the Russian government stake could have for
recovery prospects.

To calculate recovery, we simulate a hypothetical default scenario, based on a combination
of plant outages or unfavorable weather leading to a requirement to purchase power in the open
market to fulfill contracts, in turn leading to reduced earnings. In addition, we have assumed
that RusHydro would raise additional debt to fund its investment program.

We note that the increasing leverage resulting from the acquisition of RAO ES of East may
have a dilutive effect on recovery prospects, although we still see recovery prospects in the
50%-70% range.

For more information, please see RusHydro (OJSC) Recovery Rating Profile, published Aug.
30, 2011, on RatingsDirect the Global Credit Portal.

Outlook

The negative outlook reflects out opinion that RusHydro could struggle to consistently
maintain cash flow ratios that we would consider commensurate with the ratings.

We could lower the long-term rating on RusHydro if its consolidated adjusted debt exceeds
EBITDA by 3x or more, even if only temporarily. A downgrade could also be triggered by
higher-than-expected investments, including the need to invest in RAO ES of East; weaker
financial performance, due to higher regulatory pressure than we expect; or deterioration in
liquidity and maturity profiles. Lastly, any further negative intervention by the government is
likely to lead to a revision of our business risk profile assessment to weak, which could lead
to a revision of RusHydros SACP and consequently to a lower long-term rating.

At the current long-term rating level, we expect adjusted consolidated debt to EBITDA to be
2.5x-3.0x in 2012-2013, but to recover to below 2.5x in 2014 and thereafter. We think RusHydro
has the potential to strengthen its financial profile because it has some flexibility in its
capital-spending program and may benefit from low-cost electricity generation. However, we note
that the companys earnings potential is pressured by adverse regulatory actions in the
industry, including imposed price caps and the removal of a special investment component from
RusHydros revenues.

We could revise the outlook to stable if RusHydro demonstrates prudence and financial
discipline by keeping its debt below 2.5x EBITDA continuously and showing capacity to scale down
its investments and exercise successful cost control initiatives. This would also require
implementation of less-aggressive financial policies.

The long-term rating assumes there will be no change in relations between RusHydro and the
Russian government within the next two years that could affect our view of a moderately high
likelihood of timely and sufficient extraordinary state support, if required. All else being
equal, we would have to revise our assessment of this likelihood to low for it to result in a
one-notch downgrade.

Related Criteria And Research

All articles listed below are available on RatingsDirect on the Global Credit Portal, unless
otherwise stated.

– Principles Of Credit Ratings, Feb. 16, 2011

– Use Of CreditWatch And Outlooks, Sept. 14, 2009

– Rating Government-Related Entities: Methodology And Assumptions, Dec. 9, 2010

– 2008 Corporate Criteria: Analytical Methodology, April 15, 2008

– Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Sept.
28, 2011

– Criteria Methodology: Business Risk/Financial Risk Matrix Expanded, May 27, 2009

– 2008 Corporate Criteria: Ratios And Adjustments, April 15, 2008

Ratings List

Ratings Affirmed; CreditWatch/Outlook Action

To From

RusHydro (OJSC)

Corporate Credit Rating BB+/Negative/B BB+/Stable/B

Ratings Affirmed

RusHydro (OJSC)

Russia National Scale Rating ruAA+

Senior Unsecured (1 issue) BB+

Recovery Rating 3

RusHydro Finance Ltd.

Senior Unsecured (1 issue) BB+

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Top Articles to Help You Lead A Debt-Free Life

• Debt Consolidation: “Debt Consolidation” is one of the most commonly misunderstood and misinterpreted personal finance strategies that consumers inquire about all the time. While some view it as a method of taking on new loans, others see it as a debt relief alternative. It is more important than ever for inquisitive consumers to have a very strong understanding of exactly what debt consolidation entails, and the impacts it can have on personal finances.
• Debt Relief: Debt relief is defined as a partial or total forgiveness of debt. When the term is used by the government, it usually refers to the forgiveness of debt to underdeveloped countries. Recently, it has begun to refer to the millions of consumers who are overwhelmed with debt seeking financial relief from their unsecured debt.
• Credit Card Debt: Credit card debt is an example of unsecured consumer debt, accessed through credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent.
• Debt Settlement: Debt settlement programs use a third party to negotiate lower balances and interest rates on unsecured debt. This type of debt management plan helps provide consumers an alternative to bankruptcy while reducing your outstanding debt.
• Credit Counseling: There are a numerous options for consumers who want to start getting their finances under control after accumulating large amounts of debt, which could inevitably lead to credit problems further down the road. Consumers who are in control of most aspects of their finances, but still feel like they could use additional help managing their debt burden, could certainly benefit from the assistance of a consumer credit counseling service.
• How Do I Get Out of Debt?: Now that the national economy is beginning to recover and people are having a better time dealing with their personal finances, many consumers who found themselves sunk deep in debt over the last few years may be asking themselves the question, “How do I get out of debt?” Fortunately, there are a number of avenues consumers can take to get out of debt, each with benefits and drawbacks depending on how quickly people need to fix their financial problems.
• 10 Tips to Avoid the Debt Trap: Have you ever thought about why so many of the people you know are struggling with debt? Do you ever wonder why banks keep lending to certain individuals, even when they are falling behind on their payments? Did you know that debt problems are a leading cause of major societal problems, such as stress, divorce and alcoholism?
• Credit Management: Many consumers are finding themselves buried under a pile of mounting debt. With interest accumulating month after month in addition to late fees being charged, many consumers are finding it difficult to make just the minimum payments on their credit cards. Although this may seem like an endless battle, with a strict budget and some discipline there are credit management strategies and solutions that will allow consumers to reduce or even eliminate their debt.
• Credit Card Debt Reduction: In recent months, many Americans have made a greater effort to seek credit card debt reduction and reduce the balances they owe, but some may not know where to start. Fortunately, there are several options available for consumers thathave a financial goal to achieve credit card debt reduction.
• Credit problems: Paying down high levels of debt is one of the best ways to improve credit problems and increase one’s credit standing. But many people cannot do that so quickly, especially in this economy. About one-third of a credit score is based off of a credit utilization ratio, which is the total creditbalances divided by the total credit limits. A great target is to use no more than 30% of one’s available credit.

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Top Articles to Help You Lead A Debt-Free Life

• Debt Consolidation: “Debt Consolidation” is one of the most commonly misunderstood and misinterpreted personal finance strategies that consumers inquire about all the time. While some view it as a method of taking on new loans, others see it as a debt relief alternative. It is more important than ever for inquisitive consumers to have a very strong understanding of exactly what debt consolidation entails, and the impacts it can have on personal finances.
• Debt Relief: Debt relief is defined as a partial or total forgiveness of debt. When the term is used by the government, it usually refers to the forgiveness of debt to underdeveloped countries. Recently, it has begun to refer to the millions of consumers who are overwhelmed with debt seeking financial relief from their unsecured debt.
• Credit Card Debt: Credit card debt is an example of unsecured consumer debt, accessed through credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent.
• Debt Settlement: Debt settlement programs use a third party to negotiate lower balances and interest rates on unsecured debt. This type of debt management plan helps provide consumers an alternative to bankruptcy while reducing your outstanding debt.
• Credit Counseling: There are a numerous options for consumers who want to start getting their finances under control after accumulating large amounts of debt, which could inevitably lead to credit problems further down the road. Consumers who are in control of most aspects of their finances, but still feel like they could use additional help managing their debt burden, could certainly benefit from the assistance of a consumer credit counseling service.
• How Do I Get Out of Debt?: Now that the national economy is beginning to recover and people are having a better time dealing with their personal finances, many consumers who found themselves sunk deep in debt over the last few years may be asking themselves the question, “How do I get out of debt?” Fortunately, there are a number of avenues consumers can take to get out of debt, each with benefits and drawbacks depending on how quickly people need to fix their financial problems.
• 10 Tips to Avoid the Debt Trap: Have you ever thought about why so many of the people you know are struggling with debt? Do you ever wonder why banks keep lending to certain individuals, even when they are falling behind on their payments? Did you know that debt problems are a leading cause of major societal problems, such as stress, divorce and alcoholism?
• Credit Management: Many consumers are finding themselves buried under a pile of mounting debt. With interest accumulating month after month in addition to late fees being charged, many consumers are finding it difficult to make just the minimum payments on their credit cards. Although this may seem like an endless battle, with a strict budget and some discipline there are credit management strategies and solutions that will allow consumers to reduce or even eliminate their debt.
• Credit Card Debt Reduction: In recent months, many Americans have made a greater effort to seek credit card debt reduction and reduce the balances they owe, but some may not know where to start. Fortunately, there are several options available for consumers thathave a financial goal to achieve credit card debt reduction.
• Credit problems: Paying down high levels of debt is one of the best ways to improve credit problems and increase one’s credit standing. But many people cannot do that so quickly, especially in this economy. About one-third of a credit score is based off of a credit utilization ratio, which is the total creditbalances divided by the total credit limits. A great target is to use no more than 30% of one’s available credit.

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TORONTO, Apr 13, 2012 (MARKETWIRE via COMTEX) –
Canadian households are taking advantage of record low interest
rates and continuing to rack up large debt loads which they may not
be able to manage when interest rates increase. Maple Leaf Debt
Helpers recognizes the need for credit card debt reduction services
in Canada and has launched their new Fresh Start Program designed to
help consumers reduce their bills by up to 60% and stay out of
bankruptcy court. The Fresh Start Program offers consumers a proven
path to reduce their debts legally and give them a Fresh Start on
their future.

“Consumer credit card debt in Canada is at a record high level and
many families are just one unexpected life event away from falling
into a financial crisis, such as a job loss or divorce,” says Adam
Christopher of Mapleleafdebthelpers.ca

“We do not want Canadians to file for bankruptcy as there are too
many negative financial consequences that can haunt them for at least
6 years from the date of discharge. We created this credit debt
relief program to help consumers stop annoying debt collection phone
calls, prevent legal action from their creditors, lower their monthly
payments, and reduce their debts by up to 60% on average. This is a
real debt reduction plan that offers Canadians debt relief without
the many direct and indirect costs of bankruptcy,” continues
Christopher.

The average debt to income ratio for Canadians is almost 1.50
indicating that for every $1 of income there is $1.50 of debt needing
to be serviced each month. This is an unsustainable predicament which
can quickly lead to consumers missing their payments and being
hounded by debt collection calls and thinking about bankruptcy.

Consumers who are forced to charge gas and groceries and other living
expenses to their Visa or MasterCard credit cards should contact
Maple Leaf Debt Helpers for more information about the Fresh Start
Program for credit card debt consolidation in Canada. Consumers can
take advantage of a free confidential debt consolidation quote with
no obligation.

SOURCE: Maple Leaf Debt Helpers

Copyright 2012 Marketwire, Inc., All rights reserved.

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TORONTO, April 11, 2012 — /PRNewswire/ — Amid news of Canadian households continuing to pile up household debt at record levels, Maple Leaf Debt Helpers has launched their new Fresh Start Program designed to help consumers reduce their unsecured debt by 40 to 60% without filing bankruptcy. The Fresh Start Program offers consumers a way to reduce their debts legally and without bankruptcy and give them a Fresh Start on their future.

Consumer debt in Canada is at an all-time high and many families are just one unexpected negative life event away from falling into a financial crisis, says Adam Christopher of http://www.mapleleafdebthelpers.ca/

We created this Canadian debt solutions program to help consumers stop annoying debt collection calls, prevent legal action from their creditors, lower their monthly payments, and reduce their debts by 40 to 60% on average. There is no cost to sign up and consumers can get help with their credit card balances or even hospital and medical bills – any unsecured debts, continues Christopher.

The average debt to income ratio for Canadians is almost 150%, meaning that for every $1 of income there is $1.50 of debt needing to be serviced each month. This is an untenable position which can quickly lead to consumers defaulting on their bills and being forced into bankruptcy, which can have a severe consequence on consumers credit reports for up to 10 years.

Canadian household debt levels are approaching comparable levels to the United States just before the housing market crash. Wages in Canada are flat and the cost of living is increasing. This higher cost of living in Canada is forcing many households to pull out the credit card to pay the grocery bills.

When you find yourself going into debt to pay for your living expenses, it is time to get help paying your bills, states Christopher.

Consumers who are unable to maintain their current financial situation should immediately contact Maple Leaf Debt Helpers for more information about the Fresh Start Program. They can help negotiate and legally settle debts with creditors for less than the full balance on a lower monthly payment plan. Consumers can take advantage of a free consultation with no cost to sign up. Debt consolidation Canada offers consumers an alternative to bankruptcy and the opportunity to increase their credit scores after clearing away their debts.

Contact:

Adam Christopher, Web Marketing http://mapleleafdebthelpers.ca/ 1-877-710-3328

This press release was issued through eReleases(R).#xA0; For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

#xA0;

SOURCE Maple Leaf Debt Helpers

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CALGARY, ALBERTA, Apr 04, 2012 (MARKETWIRE via COMTEX) –
MNP Ltd.

/quotes/zigman/435982/quotes/nls/mnp MNP
+0.12%

– At some point in their lives, many Canadians
will face a financial crisis because of job loss, divorce, illness or
fast-rising interest rates. The financial fallout from unfortunate
life events can be devastating.

In today’s troubling financial times, individuals on the brink of
bankruptcy must seek help from trustworthy and reliable
professionals. Unfortunately, there are some companies out there
taking advantage of people in financial distress by offering
unrealistic promises of “tremendous debt relief of up to 70%.” Even
the Financial Consumer Agency of Canada has issued a consumer alert
to address the problem, so you must research the financial partner
you select to ensure they are reputable.

Who can you trust?

At MNP Ltd., we offer a free consultation where we’ll discuss
different ways to resolve your debt problems. We never use a
cookie-cutter approach when developing our debt consolidation
strategies. Instead, we tailor solutions based on each client’s
individual situation.

With over 50 years of experience helping Canadians get back on their
feet, MNP Ltd. is a trustworthy partner to those in financial
distress. At MNP Ltd., we understand how difficult it can be to
recover financially when the threat of bankruptcy looms. We’re here
to offer reliable and effective debt reduction solutions that will
provide you with a fresh financial start.

So what are your options?

— Debt consolidation
— Refinancing if you have assets
— Consumer proposals
— Bankruptcy

The options available to you depend on a number of factors such
as:

-- Are you working? Are you Self-employed?
-- Do you have a car/house/RRSP's/other assets?
-- Are you single/married/have kids?

We understand that debt reduction can be a daunting responsibility and
MNP Ltd. is here to make the process easier. Contact us, and we'll
work with you so you understand what your options are in clear and
concise terms. Consultations are free, after which you have no
obligation to work with us.

Contacts:
MNP Ltd.

http://bankruptcy.mnpdebt.ca

SOURCE: MNP Ltd.

http://bankruptcy.mnpdebt.ca

Copyright 2012 Marketwire, Inc., All rights reserved.

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Add to portfolio

MNP

Western Asset Municipal Partners Fund Inc.

US

: NYSE Euronx

$
16.06

+0.02
+0.12%

Volume: 4,926
April 13, 2012 1:20p

P/E RatioN/A
Dividend Yield5.23%

Market Cap$156.09 million
Rev. per EmployeeN/A

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Rationale

The CreditWatch placement follows the announcement that French-based multi-utility GDF SUEZ
SA (A/Stable/A-1), which currently holds 70% of IPR, offered to purchase the remaining 30%
stake.

GDF SUEZs offer reinforces our view of IPR as a core asset for the vertically integrated
French utility and our belief that it is increasingly integrating into its parents business
mix.

The BBB- rating on IPR currently benefits from one notch of uplift for parent support.
Based on our criteria on parent-subsidiary links, we see increasing financial support from GDF
SUEZ and could therefore equalize our rating on IPR with that on its parent.

Liquidity

We assess IPRs liquidity position as adequate under our criteria. We estimate that
planned cash resources–mainly comprising available cash, committed credit lines, and our
assessment of funds from operations (FFO)–will cover planned cash outlays by more than 1.2X
over the next 12 months.

Our assessment of IPRs cash resources includes:

– Cash available of more than EUR4 billion on Dec. 31, 2011, of which 30% is held at the
parent company level and the rest at the subsidiary level.

– Our estimate of about EUR3 billion from FFO.

In addition, IPR benefits from credit lines extended by its parent GDF SUEZ for a total
amount of EUR1.6 billion at year-end 2011. This liquidity pack does not include another facility
granted by GDF SUEZ–the so-called tranche A–which covers all IPRs budgeted expenditures.

Cash outlays over the next 12 months mainly comprise:

– Our assessment of capital expenditures (capex) of EUR3.0 billion, of which EUR0.5 billion
earmarked for maintainance capex.

– Debt maturities amounting to EUR1.6 billion, including nonrecourse debt.

– Our assessment of shareholder distribution and potential acquisitions totaling EUR1
billion.

We understand that IPRs liquidity is increasingly managed at the GDF SUEZ level.

CreditWatch

We aim to resolve the CreditWatch placement within the next three months, after receiving
more information on GDF SUEZs buy-out offer. We will assess the effect of IPRs increasing
integration into the larger and currently higher-rated GDF SUEZ group.

Should the minority buy-out offer go through, we would upgrade IPR and consider equalizing
our rating on IPR with that on GDF SUEZ. Under our criteria on parent-subsidiary links, the
range of parent support we could factor into our ratings on IPR could vary substantially. Our
view of full parent support and the consequent equalization of the rating on IPR with those on
GDF SUEZ would depend on what we considered to be the complete integration of IPR into its
parent company. We would base our assessment on IPRs full debt consolidation with GDF SUEZ, our
expectation of additional investments from the parent as evidenced by GDF SUEZs buy-out offer,
and the centralization of IPRs liquidity management, risk management, and investment decisions
at the GDF SUEZ level.

However, should the minority buyout not be completed, we would consider affirming the
ratings on IPR. We would reassess the benefits IPR enjoys in terms of financial flexibility and
risk management policies owing to GDF SUEZs controlling stake. In this context, we would review
the potential for incorporating stronger parent support into our corporate credit and issue
ratings on IPR.

We will also assess the effect of IPRs increased integration into GDF SUEZ on the senior
unsecured debt issued or guaranteed by IPR; namely, the BB+ issue ratings on the senior
unsecured notes issued by International Power Finance (2010) PLC, International Power Finance
(Jersey) II Ltd., International Power Finance (Jersey) III Ltd., and International Power Finance
(Jersey) Ltd. We currently see these notes as structurally subordinated to debt issued at the
operating company level (mainly significant amounts of project finance debt).

Related Criteria And Research

– Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Sept.
28, 2011

– 2008 Corporate Criteria: Analytical Methodology, April 15, 2008

– Criteria Methodology: Business Risk/Financial Risk Matrix Expanded, May 27, 2009

– Corporate Criteria–Parent/Subsidiary Links; General Principles; Subsidiaries/Joint
Ventures/Nonrecourse Projects; Finance Subsidiaries; Rating Link to Parent, Oct 28, 2004

– Use Of CreditWatch And Outlooks, Sept. 14, 2009

– Credit FAQ: Whats Behind Standard Poors Investment-Grade Rating On International
Power PLC?, Feb. 3, 2012

Ratings List

Ratings Affirmed; CreditWatch/Outlook Action

To From

International Power PLC

Corporate Credit Rating BBB-/Watch Pos/– BBB-/Stable/–

International Power Finance (2010) PLC

Senior Unsecured BB+/Watch Pos BB+

International Power Finance (Jersey) II Ltd.

Senior Unsecured BB+/Watch Pos BB+

International Power Finance (Jersey) III Ltd.

Senior Unsecured BB+/Watch Pos BB+

International Power Finance (Jersey) Ltd.

Senior Unsecured BB+/Watch Pos BB+

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