S&P lists possible losers in Pennsylvania probe
- In Devon aftermath, Moody's downgrades Northern Lebanon, Pa., school district. Demenchuk, Michael // Bond Buyer;01/16/98, Vol. 323 Issue 30312, p3
Reports that the first rating action related to Pennsylvania's Devon Capital Management Inc. scandal came when Moody's Investor Service downgraded the Northern Lebanon School District's general obligation rating. Loss of Northern Lebanon's construction fund balance with Devon; Circumstances...
- Picture still unclear for Pennsylvania school districts on investment losses. Demenchuk, Michael // Bond Buyer;10/06/97, Vol. 322 Issue 30245, p2
Reports on the US Securities & Exchange Commission's probe of Devon Capital Management for its role in the bond investment losses of Pennsylvania school districts. Meeting conducted by state officials to assess the progress of the investigation; Allegations against John Gardner Black, the owner...
- 2 Pennsylvania school districts on Watchlist. Demenchuk, Michael // Bond Buyer;10/15/97, Vol. 322 Issue 30252, p3
Reports that Moody's Investors Service placed the general obligations ratings of two Pennsylvania school districts with investment exposure to Devon Capital Management Inc. on Watchlist for potential downgrade. Districts' investment of their entire fund balance with Devon.
- Agencies study SEC case in Pennsylvania. Demenchuk, Michael // Bond Buyer;10/01/97, Vol. 322 Issue 30242, p50
Reports that Moody's Investors Service and Standard & Poor's have announced their intention to examine the potential credit impact of $71 million in loses that Pennsylvania schools districts suffered at the hands of Devon Capital Management. Securities & Exchange Commission's move to charge...
- Pennsylvania panel mulls how to clean up Devon mess and avoid another. Demenchuk, Michael // Bond Buyer;10/23/97, Vol. 322 Issue 30258, p3
Reports on the legislators' investigation of an investment fraud case in Pennsylvania's bond market involving Devon Capital Management. Company's fraud affecting 75 school districts in the state; Comments from legislators initiating the inquiry.
- S&P affirms Chicago rating after querying Devon links. Williamson, Tammy // Bond Buyer;10/13/97, Vol. 322 Issue 30250, p25
Reports that Standard and Poor's Corp. affirmed its A rating of Chicago, Illinois in October 1997 after determining none of the city's funds were under the management of Devon Capital Management Inc. Freeze of the assets of John Gardner Black.
- SEC freeze on $125 million of Devon funds lifted; Pennsylvania schools to benefit. Kruger, Daniel // Bond Buyer;05/13/98, Vol. 324 Issue 30392, p3
Discloses that a federal judge has lifted a US Securities and Exchange Commission-ordered freeze on approximately $125-million in assets connected to the fraud case against Devon Capital Management. Benefits of the court ruling to the Pennsylvania school districts defrauded by John Gardner...
- Devon scandal means more business for Pennsylvania's top three LGIPs. Hoffman, David // Bond Buyer;08/26/98, Vol. 325 Issue 30465, p1
Reports on how the Devon Capital Management collapse is proving to be a boon to Pennsylvania's three major local government investment pools (LGIP) as school districts and municipalities search for a safe place to stash their money. Increase in fund participants reported by the Pennsylvania...
- Ambac offers aid to Pennsylvania school districts hit by scandal. Demenchuk, Michael; Richtmyer, Richard // Bond Buyer;10/10/97, Vol. 322 Issue 30249, p3
Reports that Ambac Assurance Corp. has offered to provide loans to the 75 Pennsylvania school districts that may have suffered losses through their involvement with financial adviser Devon Capital Management Inc. Short-term loans for two years; Purchase of short-term bonds from the schools to...