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Securitization People and Markets

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  • Hollywood Theaters has good profit margins and a competitive position in many of its small markets, but its corporate credit also carries a high financial risk, according to Standard & Poor's.
  • Jack Lohrs, managing director at MBIA Inc., has joined Fitch Ratings as a senior director in the residential mortgage-backed securities division in New York.
  • The $460 million credit for Coleto Creek, backing an acquisition of a 632 MW coal-fired generating facility in Gollad County, Texas, is gathering interest from institutional players and hedge funds increasingly investing in project paper.
  • Jim Claire, senior v.p. and head of taxable fixed-income trading at Evergreen Investment Management in Charlotte, N.C., has moved to its short-term sales group as senior v.p. and director.
  • A bank meeting is scheduled for tomorrow to launch a $200 million add-on "B" loan for Acosta Sales Co. Proceeds will be used to pay a $200 million dividend.
  • Flagship Capital Management, a loan subsidiary of Bank of America, is in the market with its third collateralized loan obligation.
  • Calyon, BNP Paribas, ING, Scotia Capital and Sumitomo Bank have signed on at the senior managing agent tier for PanAmSat Corp.'s $2.91 billion credit.
  • WhiteHorse Capital Partners, a Dallas-based investment firm that focuses on managing leveraged loans and structured finance vehicles, is gearing up to launch its debut fund, sources said.