リリースコンテナ第3倉庫

Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC) announced that it completed the disposition of 15 operating properties previously held-for-sale in Colorado Springs, Co in a transaction valued at $134 million, for net proceeds of $131 million. The 15 properties sold are listed in the table below:

“We are pleased to have completed our Strategic Reallocation Plan (“SRP”

“We are pleased to have completed our Strategic Reallocation Plan (“SRP”) within the three-year time frame we established for ourselves and to have executed these dispositions at exit cap rates that were within our guidance,” stated Roger A. Waesche, Jr., COPT’s President & Chief Executive Officer. “With our portfolio repositioning now substantially complete, we expect 2014 to be a year of transitioning our platform back to a growth mode,” he added.

With these 15 property dispositions, the Company has completed the operating property portion of the SRP that it launched in the second quarter of 2011. Since April 2011, the Company has disposed of $544 million of properties that contained approximately 4.9 million square feet and realized net proceeds (after transaction costs and repayment of property-specific debt) of approximately $469 million. Additionally, the disposed properties represented 23.1% of COPT’s operating portfolio that existed at March 31, 2011 (the last reporting period before the SRP was announced).

Company Information

COPT is an office REIT that focuses primarily on serving the specialized requirements of U.S. Government agencies and defense contractors, most of which are engaged in defense information technology and national security-related activities. As of September 30, 2013, COPT derived 64% of its annualized revenue from its strategic tenant niche properties and 21% from its regional office properties. The Company generally acquires, develops, manages and leases office and data center properties concentrated in large office parks primarily located near knowledge-based government demand drivers and/or in targeted markets or submarkets in the Greater Washington, DC/Baltimore region. As of September 30, 2013, the Company’s consolidated portfolio consisted of 210 office properties totaling 19.2 million rentable square feet. COPT is an S&P MidCap 400 company.

Forward-Looking Information

This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Accordingly, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements.

Important factors that may affect these expectations, estimates, and projections include, but are not limited to:

• general economic and business conditions, which will, among other things, affect office property and data center demand and rents, tenant creditworthiness, interest rates, financing availability and property values;
• adverse changes in the real estate markets including, among other things, increased competition with other companies;
• governmental actions and initiatives, including risks associated with the impact of a government shutdown or budgetary reductions or impasses, such as a reduction in rental revenues, non-renewal of leases, and/or a curtailment of demand for additional space by the Company's strategic customers;
• the Company’s ability to borrow on favorable terms;
• risks of real estate acquisition and development activities, including, among other things, risks that development projects may not be completed on schedule, that tenants may not take occupancy or pay rent or that development or operating costs may be greater than anticipated;
• the Company’s ability to sell properties included in its Strategic Reallocation Plan;
• risks of investing through joint venture structures, including risks that the Company’s joint venture partners may not fulfill their financial obligations as investors or may take actions that are inconsistent with the Company’s objectives;
• changes in the Company’s plans for properties or views of market economic conditions or failure to obtain development rights, either of which could result in recognition of significant impairment losses;
• the Company’s ability to satisfy and operate effectively under Federal income tax rules relating to real estate investment trusts and partnerships;
• the Company's ability to achieve projected results;
• the dilutive effects of issuing additional common shares; and
• environmental requirements.

The Company undertakes no obligation to update or supplement any forward-looking statements. For further information, please refer to the Company’s filings with the Securities and Exchange Commission, particularly the section entitled “Risk Factors” in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

A.M. Best Co. has downgraded the financial strength rating (FSR) to B (Fair) from B+ (Good) and issuer credit rating (ICR) to “bb+” from “bbb-” of Springfield Insurance Company (Springfield) (Covina, CA). The outlook for the FSR is stable, while the outlook for the ICR has been revised to negative from stable.

The rating actions are based on Springfield’s declining risk-adjusted capitalization during 2012 and through the first nine months of 2013. The deterioration in the company’s risk-adjusted capitalization was primarily driven by adverse loss reserve development on the more recent accident years, which drove underwriting losses and increased underwriting and loss reserve leverage. In addition, Springfield has a large premium dependence on California workers’ compensation, where pricing and regulatory reform volatility can cause adverse results.

Offsetting these negative rating factors are management’s expertise and knowledge of the grocery marketplace, Springfield’s conservative underwriting strategy and the initiatives management has taken to improve both rate and loss reserve adequacy. The negative outlook on the ICR reflects A.M. Best’s view that Springfield faces execution risk in returning to a profitable footing, without which capital could continue to erode through losses. Should the ICR be downgraded to “bb”, the FSR would remain at B (Fair). As a result, the current outlook for the FSR is stable.

Further negative rating actions could occur if Springfield continues to experience weakened combined and operating ratios, further material adverse development or capital adequacy declines materially as measured by Best’s Capital Adequacy Ratio (BCAR).

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Fitch Ratings has upgraded the credit ratings of Brixmor LLC (Brixmor) as follows:

--Issuer Default Rating (IDR) to 'BB+' from 'BB-';

--Senior unsecured notes to 'BB+' from 'BB-'.

Fitch has revised the Rating Outlook to Positive from Stable.

KEY RATING DRIVERS

The upgrade reflects the improved financial and liquidity profile of Brixmor LLC's indirect parent company, Brixmor Property Group, Inc. (BRX or the company), including reduced leverage, stronger fixed charge coverage, and improved contingent liquidity, including a $1.25 billion revolving line of credit and an increased portfolio of unencumbered assets.

The Positive Outlook reflects Fitch's expectation that BRX's leverage and coverage metrics will continue to improve, and that the company will aggressively unencumber assets by refinancing secured mortgage debt with unsecured bonds and, or unsecured bank term loan borrowings.

Fitch views the relationship between Brixmor LLC and BRX as an important rating consideration. The ratings and Positive Outlook incorporate implicit support from BRX. Fitch views Brixmor LLC as a core part of BRX's business, reflecting strong operational and financial linkages between the two companies and Fitch analyzes Brixmor LLC's credit quality based on BRX's consolidated financial statements.

In addition, Fitch considers Brixmor LLC's 128 properties (pro forma for the IPO distributions) as being of comparable quality and market granularity to BRX's properties.

Highly Diversified Portfolio

BRX's credit profile benefits from widespread cash flow diversification by geography, assets, tenants and leases. The company's 522 properties comprise 87 million sf and are located in 38 states and over 175 metropolitan statistical areas (MSAs). The company's largest shopping center represents only 1.5% of ABR. Thirty-six percent of the company's annualized base rent (ABR) is located in the top-10 U.S. MSAs by population and 63% is in the top-50 MSAs. The company's largest market is the New York/Northern New Jersey metro, which comprises 6.1% of its ABR. The company has approximately 5,400 tenants in its portfolio with approximately 9,300 leases. BRX's top-20 tenants comprise 26.4% of its ABR as of Sept. 30, 2013. Five are investment grade rated, including The Kroger, Co. (IDR 'BBB'), which was the company's largest tenant at 3.4% of the company's ABR.

Improved Capitalization and Liquidity

BRX has strengthened its liquidity profile by obtaining a $2.8 billion credit facility in July 2013 and gaining access to the public equity markets in November 2013 through an upsized IPO that generated $891.3 million of net proceeds, including overallotments. The company used revolver and term loan borrowings under its credit facility to unencumber assets by paying off $2.4 billion of mortgages. The company used the IPO proceeds to pay down its revolver. Fitch expects that BRX's enhanced liquidity, access to capital and financial position should provide additional flexibility for the company to maintain and improve its properties. This, in turn, should result in higher occupancies and above average same store net operating income (SSNOI) growth that will strengthen the company's credit metrics.

Revolving lines of credit typically comprise the largest source of liquidity for REITs given the cash distribution requirements associated with electing REIT tax status do not enable issuers to retain meaningful amounts of cash. Fitch had traditionally viewed the lack of a revolving credit facility within the BRX corporate group (and Brixmor LLC specifically) as a key credit concern.

Fitch's base case analysis shows BRX's sources of liquidity through 2015 covering uses by 1.0x (0.9x including planned redevelopment expenditures). BRX's liquidity coverage improves to 2.2x (2.0x including redevelopment) under an alternate scenario in which the company refinances its secured maturities at an 80% advance rate, although Fitch views this scenario as less likely given the company's strategy to unencumber assets. Fitch calculates liquidity coverage as sources (cash, availability under the revolving credit facility and retained cash flow from operations after dividends) dividend by uses (debt maturities and recurring capital expenditures).

Slow and Steady De-Leveraging

Fitch expects BRX's leverage to improve to the high 6.0x range by the end of 2015, due to a combination of SSNOI growth, incremental NOI from redevelopments and modest debt reduction funded from free cash flow. BRX's leverage was 7.7x based on annualizing the company's pro forma recurring operating EBITDA for the quarter ended Sept. 30, 2013. The pro forma results adjust for portfolio and capitalization changes that occurred subsequent to quarter end as a result of BRX's IPO on Nov. 4, 2013. Fitch defines leverage as consolidated net debt divided by recurring operating EBITDA, including recurring cash distributions from joint ventures, but excluding non-cash above and below market lease income.

Improving Fixed-Charge Coverage

Fitch expects BRX's fixed charge coverage to improve to the high-2.0x range in 2015, due to higher property NOI, partially offset by higher interest costs associated with refinancing low cost, variable rate, secured borrowings with higher cost fixed rate unsecured debt. BRX's fixed-charge coverage was 2.1x for the year-to-date and annualized quarter ended Sept. 30, 2013. Fitch defines fixed-charge coverage as recurring operating EBITDA less non-cash revenues and recurring capital expenditures divided by cash interest incurred.

Above Average Internal Growth

Fitch expects BRX to generate above-peer average SSNOI growth of 4%, 3.5% and 3.5% in 2013, 2014 and 2015. Improved anchor and small shop occupancy rates and positive spreads on new and renewal leases commencing underpin Fitch's internal growth projections. BRX's occupancy has increased on a year-over-year basis in each of the last 11 quarters. Occupancy at Sept. 30, 2013, was 92.1% - up 90 basis points (bps) from the comparable year-ago period. Rental rate growth in BRX's portfolio has been positive for 11 consecutive quarters. Spreads on new and renewal leases (including options exercised) were positive 50.9% and 7.6%, respectively during the third quarter 2013.

Moreover, the company's pipeline of anticipated new leases signed and under letter of intent, has an average contractual rental rate of $14.57 per square foot (psf), which is a 23% premium compared to the $11.87 psf portfolio average rent. Fitch views the company's unbalanced lease expiration schedule, with an emphasis on near-term expirations as less of a credit concern given the below market nature of existing leases against the backdrop of favorable retail CRE industry fundamentals, including rising rental rates in most markets.

Simple Story; Few Legacy Issues

BRX operates with a relatively straightforward business model that includes whole ownership of U.S. based neighborhood and community shopping centers. The company has no material joint ventures and does not intend on making joint venture equity a focus of its growth strategy going forward. BRX's external growth strategy will focus on redevelopment of its existing centers. The company does not plan on engaging in ground-up development and has no legacy stalled development projects to work through from the prior cycle. Fitch does not expect the company to sell assets in the near term. BRX transferred 45 properties deemed to be non-core to Blackstone in exchange for 43 assets acquired by Blackstone from Regency Centers (IDR 'BBB') and Equity One. Fitch views the assets acquired from Blackstone to be of significantly higher quality than those transferred based on factors including market locations, occupancy rates, tenant credit quality and average rents.

Growing Unencumbered Pool

Fitch calculates the company's unencumbered assets cover its unsecured debt (UA/UD) by 1.9x. Fitch uses a direct capitalization approach of unencumbered property NOI assuming a stressed 8.5% capitalization rate. BRX's UA/UD is strong for the 'BB+' rating and the company plans to significantly unencumber assets over the next 1-3 years through refinancing (in some cases ahead of maturities) secured obligations with unsecured bonds and term loans and, to a lesser extent, through debt repayments with retained free cash flow. Given the debt yields of maturing mortgages, Fitch expects UA/UD to center in the 2.0x over the next several years.

Experienced Management and Sponsor

BRX has a cycle-tested management team with extensive real estate operating and capital markets experience, including prior executive-level roles at other publicly traded retail REITs. BRX management is committed to improving its balance sheet as part of its broader strategy of regaining access to the public unsecured bond markets.

Controlled Company

Fitch views Blackstone's 77% majority ownership of BRX (70% voting interest) as moderate net negative to the credit. Positive aspects include access to Blackstone's extensive CRE experience and network of relationships. Although Blackstone representatives control the majority (five of nine) of its board seats, BRX has a strong set of corporate governance practices, including a non-staggered board, no shareholder rights plan and opting out of Maryland unsolicited takeover laws that generally favor management entrenchment.

However, if forced to choose, Fitch expects Blackstone to favor maximizing value for shareholders over bondholders. Blackstone plans to exit its investment in BRX during the next 3-5 years. This could also limit the company's flexibility to issue equity, which may be in competition with selling by Blackstone. REITs have historically relied on the equity capital markets to fund new investments, as well as to meet maturing debt obligations during times of economic and financial stress.

Asset Quality Lower than Peers

Fitch considers BRX's asset quality to be at or near the low end of its publicly traded peers, based on the portfolio's current operating metrics, including occupancy and rent psf, surrounding demographics and exposure to tertiary markets. Deferred maintenance due to lack of reinvestment under financially stressed previous owner Centro Properties is partly responsible for BRX's weak relative operating metrics. Fitch expects BRX to continue the program of reinvestment in its properties started under Blackstone's ownership. Longer term, Fitch expects BRX to reduce its exposure to secondary and tertiary markets by selling assets and recycling capital into primary markets. Although BRX's asset quality is below its publicly traded REIT peers, it shows well against the stock of U.S. retail properties, generally.

RATING SENSITIVITIES

The following factors may result in an IDR upgrade for Brixmor LLC to 'BBB-'; based on the consolidated financial metrics of BRX:

--Fitch's expectation of fixed-charge coverage sustaining above 2.0x (annualized 3Q'13 pro forma coverage was 2.1x);

--Fitch's expectation of leverage sustaining below 7.0x (annualized 3Q'13 leverage was 7.7x);

--Fitch's expectation of unencumbered asset coverage of unsecured debt sustaining above 2.0x (unencumbered assets - valued as 3Q'13 annualized unencumbered NOI divided by a stressed capitalization rate of 8.5% to unsecured debt was 1.9x).

The following factors may negatively impact Brixmor LLC's ratings and/or Outlook; based on the consolidated financial metrics of BRX:

--Fitch's expectation of fixed-charge coverage sustaining below 1.8x;

--Fitch's expectation of leverage sustaining above 8.5x;

--Base case liquidity coverage sustaining below 1.0x.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Recovery Ratings & Notching Criteria for Equity REITs' (Nov. 19, 2013);

--'Corporate Rating Methodology' (Aug. 5, 2013);

--'Parent and Subsidiary Rating Linkage' (Aug. 5, 2013);

--'Criteria for Rating U.S. Equity REITs and REOCs' (Feb. 26, 2013).

Applicable Criteria and Related Research:

Recovery Ratings and Notching Criteria for Equity REITs

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=722363

Corporate Rating Methodology: Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=715139

Parent and Subsidiary Rating Linkage Fitch's Approach to Rating Entities within a Corporate Group Structure

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=714476

Criteria for Rating U.S. Equity REITs and REOCs

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=700091

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=811857

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. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

WashingtonFirst Bankshares, Inc. (NASDAQ: WFBI) the holding company of WashingtonFirst Bank, announced today the election of Jon Milton Peterson, Senior Vice President of The Peterson Companies, to its board of directors on December 9, 2013. “We are very excited to have an outstanding individual join our board,” said President and CEO Shaza L. Andersen. “Jon has deep and enduring ties to the region and is an active and effective participant in the local business and charitable communities. His leadership in the community development industry will be a pivotal addition to the Board as we continue to expand our reach in the area,” said Andersen.

“We are very excited to have an outstanding individual join our board”

Mr. Peterson has worked in the family’s real estate development business since 1986. As Senior Vice President of Commercial and Business Development, Peterson has direct involvement with all aspects of the community development industry, including approximately 2.25 million square feet of commercial office product in the Washington Metropolitan area. Further, Mr. Peterson is a member of a variety of professional memberships including: Northern Virginia Chapter of the National Association of Industrial and Office Properties, Virginia Association for Commercial Real Estate, Greater Washington Board of Trade, and INOVA Health Systems to name a few. In addition, Peterson plays an active role in Joe Gibbs’ Youth For Tomorrow, serving on the Board of Trustees.

Mr. Peterson was elected at the regular meeting of the board on December 9, 2013 and will serve on the Executive Loan Committee. “The Board of Directors of WashingtonFirst is committed to our future as a community-oriented bank that provides competitive financial services to local businesses and consumers,” said Chairman of the Board Joseph S. Bracewell. “Jon’s reputation is unmatched and we couldn’t be more thrilled to have him join our organization.”

About The Company

WashingtonFirst Bankshares, Inc. is headquartered in Reston, Virginia and is the holding company for WashingtonFirst Bank, which commenced operations in 2004. WashingtonFirst Bank, which focuses on providing quality, tailored services to its customers, conducts a full service commercial banking operation through 15 offices, with nine located in Northern Virginia, three in Maryland, and three in the District of Columbia. For more information about WFBI, please visit: www.wfbi.com.

Link to Fitch Ratings' Report: 2014 Outlook: Cross-Sector Lodging & Timeshare - The Penthouse View

“2014 Outlook: Cross-Sector Lodging & Timeshare - The Penthouse View”

Fitch Ratings anticipates another good year in 2014 for the U.S. lodging industry. Strong corporate and leisure transient demand, improving group demand and limited new supply will help to increase U.S. revenue per available room (RevPAR) by 5.5% next year, with average daily rate (ADR) growth again leading the charge.

The U.S. lodging industry is in the middle innings of recovery compared with the previous two that occurred in the early 1990s and 2000s. The trajectory of the current recovery has been unusually strong. However, an examination of the length of prior cycles suggests this one has not yet run its course. Real RevPAR remains 8% below prior peak levels. Fitch expects RevPAR to exceed the prior cycle peak, consistent with the last two cycles.

We believe group demand, defined as rooms booked in blocks of 10 or more, has lagged so far during this recovery due to cyclical and secular challenges. Despite that, a brighter outlook for group demand in 2014 should support stronger cash flow growth by giving hotel managers the confidence to raise room rates more aggressively.

Fitch expects U.S. hotel supply to increase by 1.1% during 2014. This represents a modest acceleration from the 0.7% supply growth anticipated by the agency for all of 2013, but is still well below the 2% annual industry average since 1988. The low level of new supply supports our outlook for a stronger and longer upswing in this lodging cycle.

We expect minimal ratings and/or outlook changes for the lodging coverage universe in 2014 as most companies are operating at, or comfortably within, their stated leverage targets. Fitch expects lodging C-Corps will continue to balance capital allocations between brand acquisitions, share repurchases and dividends. We expect lodging REITs are likely to be net sellers of assets during 2014, taking advantage of strong asset pricing to prune underperforming hotels from their portfolios.

Fitch views external factors, such as an unanticipated material deterioration in the U.S. economy, as the principal near-term risk to its forecast. Longer term, the agency is watching closely for signs that the cycle is peaking. Occupancy declines have historically been a good early warning indicator - particularly when combined with an environment of solid ADR-led RevPAR growth and expectations for elevated new supply.

The Penthouse View highlights our outlook across four subsectors: lodging C-Corps, lodging REITs, CMBS with high hotel exposures, and timeshare ABS. The 31-page report discusses industry trends, the liquidity and financing environment, and provides statistical analysis of cyclicality.

See "2014 Outlook: Cross-Sector Lodging & Timeshare - The Penthouse View," published today at www.fitchratings.com.

Additional information is available on www.fitchratings.com.

The above article originally appeared as a post on the Fitch Wire credit market commentary page. The original article, which may include hyperlinks to companies and current ratings, can be accessed at www.fitchratings.com. All opinions expressed are those of Fitch Ratings.

Applicable Criteria and Related Research: 2014 Outlook: Cross-Sector Lodging & Timeshare (The Penthouse View)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=726600

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. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Fitch Ratings has upgraded two classes and affirmed two classes of notes issued by Emporia Preferred Funding I, Ltd./Corp. (Emporia I). The rating actions are as follows:

--$21,039,146 class C notes upgraded to 'AAAsf' from 'Asf'; Outlook to Stable from Positive;

--$24,360,000 class D notes upgraded to 'Asf' from 'BBBsf'; Outlook to Positive from Stable;

--$8,000,000 class E-1 notes affirmed at 'BBsf'; Outlook to Positive from Stable;

--$5,195,000 class E-2 notes at affirmed 'BBsf'; Outlook to Positive from Stable.

KEY RATING DRIVERS

The rating actions are based on the significant increase in credit enhancement available to the notes and the improved performance of the underlying portfolio since the transaction's last rating action in December 2012. Since the last rating action, the transaction has received a significant amount of principal proceeds from the amortization of the portfolio, redeeming the class A and B (class B-1 and B-2) notes in full and paying down an additional $3.3 million in class C principal. As of the Nov. 2, 2013 trustee report, the transaction continues to have ample cushion in all its overcollateralization (OC) and interest coverage (IC) tests.

Fitch currently considers no assets to be rated 'CCC+' or below in the performing portfolio versus 7.2% at the last review and the weighted average rating factor of the performing portfolio improved to 'B' from 'B/B-'. According to the trustee report, there are two defaulted obligors in the portfolio totaling approximately $1 million and the current weighted average spread (WAS) is 3.74%, compared to a trigger of 3.5%. Additionally, Fitch's analysis focused on a performing portfolio balance of $73.3 million held across 30 borrowers and $6.9 million in principal collections.

RATING SENSITIVITIES

The ratings of the notes may be sensitive to the following: asset defaults, portfolio migration, including assets being downgraded to 'CCC', or portions of the portfolio being placed on Rating Watch Negative or assigned a Negative Outlook, OC or IC test breaches.

Emporia I is a cash flow collateralized loan obligation (CLO) that closed on Oct. 12, 2005 and is managed by Ivy Hill Asset Management, a portfolio management company of Ares Capital Corporation. Emporia I has a portfolio primarily composed of U.S. middle market loans, approximately 83.54% of which are senior secured positions and approximately 16.46% of which are second lien loans and structured finance assets. The transaction exited its reinvestment period in October 2011.

This review was conducted under the framework described in the report 'Global Rating Criteria for Corporate CDOs' using the Portfolio Credit Model (PCM) for projecting future default and recovery levels for the underlying portfolio. These default and recovery levels were then utilized in Fitch's cash flow model under various default timing and interest rate stress scenarios.

While Fitch's cash flow analysis indicates higher passing rating levels for the class D and class E-1 and E-2 notes (collectively, the class E notes) in all 12 interest rate and default timing scenarios, the current recommended ratings appropriately reflect the risk profile of the remaining portfolio. The class D and E notes remain subordinate to the class C notes and the class D and E notes are the most susceptible to portfolios concentration risks. The Positive Outlook on the class D and E notes reflects Fitch's expectations of improved performance of the notes in the near term.

Additional information is available at 'www.fitchratings.com'.

The information used to assess these ratings was sourced from the asset manager, periodic servicer reports, and the public domain.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (May 24, 2013);

--'Global Rating Criteria for Corporate CDOs' (Aug. 8, 2013);

--'Counterparty Criteria for Structured Finance and Covered Bonds' (May 13, 2013);

--'Criteria for Interest Rate Stresses in Structured Finance Transactions' (Jan. 25, 2013);

--'Criteria for Rating Caps and Limitations in Global Structured Finance Transactions' (June 12, 2013);

--'Global Rating Criteria for Structured Finance CDOs' (Sept. 12, 2013).

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=811858

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. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

On December 13, 2013, the Board of Trustees of Dreyfus High Yield Strategies Fund (NYSE:DHF) declared from net investment income a monthly cash dividend of $0.032 per share of beneficial interest, payable on January 15, 2014 to shareholders of record at the close of business on December 30, 2013. The ex-dividend date is December 26, 2013. The previous dividend declared in November was $0.032 per share of beneficial interest.

Whiting Petroleum Corporation (NYSE: WLL) today announced the results of its offer to exchange (the “Exchange Offer”) all of its outstanding, unregistered 5.750% Senior Notes due 2021 (CUSIP Nos. 966387AJ1 and U9650FAC1) (the "Original Notes") issued September 26, 2013, for new, registered 5.750% Senior Notes due 2021 (CUSIP No. 966387AH5) (the "New Notes"), which are an additional issuance of and will be fully fungible and form a single series voting together as one class with the $800 million aggregate principal amount of its 5.750% Senior Notes due 2021 issued on September 12, 2013. Whiting has been advised by The Bank of New York Mellon Trust Company, N.A., the exchange agent for the Exchange Offer, that, as of 5:00 p.m., New York City time, December 13, 2013 (the “Expiration Date”), holders of 100% of the $400 million aggregate principal amount of Original Notes had validly tendered pursuant to the terms of the Exchange Offer. The settlement date for the Exchange Offer is expected to occur on December 16, 2013.

Under the terms of the Exchange Offer, eligible holders of the Original Notes who had validly tendered at or before the Expiration Date will receive, for each $1,000 principal amount of the Original Notes tendered, $1,000 principal amount of the New Notes, provided that such Original Notes tendered in the Exchange Offer were in minimum denominations of $2,000 principal amount and any integral multiples of $1,000 in excess thereof.

About Whiting Petroleum Corporation

Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids primarily in the Rocky Mountain, Permian Basin, Michigan, Gulf Coast and Mid-Continent regions of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and its Enhanced Oil Recovery field in Texas. The Company trades publicly under the symbol WLL on the New York Stock Exchange. For further information, please visit http://www.whiting.com.

Forward-Looking Statements

This news release contains statements that we believe to be "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934. All statements other than historical facts, including, without limitation, statements regarding our future financial position, business strategy, projected revenues, earnings, costs, capital expenditures and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as we "expect," "intend," "plan," "estimate," "anticipate," "believe" or "should" or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements.

These risks and uncertainties include, but are not limited to: declines in oil, NGL or natural gas prices; our level of success in exploration, development and production activities; adverse weather conditions that may negatively impact development or production activities; the timing of our exploration and development expenditures; our ability to obtain sufficient quantities of CO₂ necessary to carry out our enhanced oil recovery projects; inaccuracies of our reserve estimates or our assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; risks related to our level of indebtedness and periodic redeterminations of the borrowing base under our credit agreement; our ability to generate sufficient cash flows from operations to meet the internally funded portion of our capital expenditures budget; our ability to obtain external capital to finance exploration and development operations and acquisitions; federal and state initiatives relating to the regulation of hydraulic fracturing; the potential impact of federal debt reduction initiatives and tax reform legislation being considered by the U.S. Federal government that could have a negative effect on the oil and gas industry; our ability to identify and complete acquisitions and to successfully integrate acquired businesses; unforeseen underperformance of or liabilities associated with acquired properties; our ability to successfully complete potential asset dispositions and the risks related thereto; the impacts of hedging on our results of operations; failure of our properties to yield oil or gas in commercially viable quantities; uninsured or underinsured losses resulting from our oil and gas operations; our inability to access oil and gas markets due to market conditions or operational impediments; the impact and costs of compliance with laws and regulations governing our oil and gas operations; our ability to replace our oil and natural gas reserves; any loss of our senior management or technical personnel; competition in the oil and gas industry in the regions in which we operate; risks arising out of our hedging transactions; and other risks described under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2013. We assume no obligation, and disclaim any duty, to update the forward-looking statements in this news release.

Hospitality Staffing Solutions, LLC (HSS), a leading provider of outsourced staffing solutions for the hospitality industry, today announced that it has received Court approval for the sale of its assets to HS Solutions Corporation, an entity formed by LJC Investments I, LLC and a group of investors including Littlejohn Opportunities Master Fund, L.P., Caymus Equity Partners and Management.

The approval of the transaction allows HSS to substantially reduce its outstanding indebtedness, shed certain legacy obligations and emerge with the strong financial backing of a new owner.

Rick Holliday, President and CEO, said, “We are pleased to have been able to get through the process with the continued support of our clients and team members. Personally, I am pleased to be back as CEO helping to lead the organization along with our new partners. As a result of this process, the organization is in a better position to continue to drive our business forward and deliver for our valued customers across the U.S.”

As previously announced, HSS filed a voluntary petition for relief with the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 of the U.S. Bankruptcy Code in order to facilitate the sale. The company expects to complete the sale and emerge from Chapter 11 in January. Throughout the sales process, HSS has supported its team members and continued uninterrupted service to its customers.

About Hospitality Staffing Solutions, LLC

Hospitality Staffing Solutions, LLC (HSS) is the nation’s leading hospitality staffing company. Established in 1990, our team of hotel industry experts works with 4 and 5 star properties in 32 states and 71 markets across the country. Our service model offers clients the continuity of full time employees with the scalability of flexible staffing. Visit us at www.hssstaffing.com.

Fitch Ratings has affirmed the following Palomar Pomerado Health System (the district), California, bonds:

--$489.5 million general obligation (GO) bonds (election of 2004), series 2005, 2007A, 2009A, and 2010A at 'A+'.

The Rating Outlook is Stable.

SECURITY

The bonds are secured by an unlimited, voter-approved, ad valorem tax levied on all taxable property within the district boundaries. The district is required to pay the GO bond debt in the unlikely event that the ad valorem property tax revenues are insufficient.

KEY RATING DRIVERS

GOOD TAX BASE AND ECONOMIC GROWTH PROSPECTS: The district retains good potential for long-term growth due to its location, availability of relatively affordable land for development and a growing labor force. Socio-economic characteristics are mixed but property values are rebounding following recent tax base declines.

WEAKENED FINANCIAL PERFORMANCE: Opening the district's new hospital and preparing for health care reform have pressured the district's financial operations, particularly in terms of its liquidity. Fitch expects strategies undertaken by management to result in stabilized performance.

LEADING MARKET SHARE: The district is the local market leader with 49% market share. Fitch expresses some concern over current and projected tax rates well in excess of those originally presented at the last bond election. Future debt issuance may be consequently constrained.

CASH-FUNDED DEBT SERVICE CUSHION: The GO property tax rate covers 18 months of debt service, building in a six-month cushion to protect the district's non-tax revenues.

MIXED DEBT PROFILE: Overall debt remains high and amortization slow. However, the district's debt, pension, and other post-employment benefit (OPEB) carrying costs remain very manageable.

RATING SENSITIVITIES

SHIFT IN FUNDAMENTALS: The rating is sensitive to shifts in fundamental credit characteristics including the district's debt profile and financial management, including the maintenance of a six-month cash-funded GO debt payment cushion. The Stable Outlook reflects Fitch's expectation that such shifts are unlikely.

CREDIT PROFILE

The district is California's largest local health care district serving approximately 18% of the county's population (an estimated 507,000 residents) over 850 square miles of northeast inland San Diego County. The service area is primarily residential, with some light industrial and commercial activity. The district opened its $956 million, 288-bed Palomar Medical Center (PMC) on a 56 acre campus in Escondido in August 2012 with considerable future expansion capacity. The district operates other inpatient and outpatient facilities, including a 107-bed hospital in Poway and the Palomar Health Downtown Campus (PHDC).

GOOD TAX BASE AND ECONOMIC GROWTH PROSPECTS

Wealth levels within the district vary considerably but county per capita money income and median household income are above-average. After robust average annual taxable assessed value (TAV) growth of 9.2% in fiscal years 2000-2009, the district experienced TAV volatility through fiscal 2013 which resulted in a cumulative TAV decline of 5.5%. A considerable portion of this loss was recovered as the district's tax base rebounded by 3.8% in fiscal 2014. District expectations for 1%-2% annual TAV growth appear reasonable. Property taxpayer concentration remains very low.

The district retains good potential for long-term growth due to its location near the San Diego and southern Orange County economies, as well as relatively affordable and available land for development. Even as the county's labor force continues to grow, the unemployment rate declined considerably to 7.4% in August 2013, compared to 9.2% a year prior, and is now in line with the nation as a whole (7.3%).

DISTRICT FINANCIAL PERFORMANCE HAS DETERIORATED

Fitch rates the district's revenue bonds 'BB+'. The district has suffered significant losses in fiscal 2013 due to lower volume than expected as well as higher expenses from the transition to the new facility. Liquidity has also been drained due to the completion of its master facility plan as well as the investment in several initiatives to position itself for healthcare reform. Management implemented a turnaround plan, and most of the expense savings are from a reduction in force that happened in July and August 2013. Budgeted fiscal 2014 performance is still weak for the rating level but much improved from the prior year.

There is practically almost no correlation between the district's business operations and revenue generation for GO debt service. Legally the district must repay its debt from other sources in the event that ad valorem property tax revenues provide insufficient. The need to access other monies is unlikely because the GO property tax rate covers 18 months of debt service to build in a six-month cushion to protect the district's non-tax revenues.

The district's overall profitability is slightly aided by its status as a California Hospital District, a political subdivision of the State of California. The district receives unrestricted property tax revenues from a fixed share of the 1% property tax levied by the County of San Diego on all taxable real property within the district's boundaries.

The district received $12.9 million in unrestricted property tax revenues in fiscal 2013 (2% of total revenues, net transfers, and other uses). These revenues are in addition to the $15.8 million in fiscal 2013 ad valorem tax revenues generated by a separate voter-approved tax levy pledged solely for the repayment of the district's GO bonds.

LEADING MARKET POSITION

The district has 49.2% market share in its primary service area. The district benefits from its position as the only major provider in north San Diego County. The district continues to work with other health systems and providers in an effort to grow volume. These include an agreement with Kaiser for a certain amount of bed usage and an affiliation with Rady Children's Hospital that operates a pediatric facility within PHDC.

Strong voter support for the district was demonstrated when 68.9% voted in favor of the 2004 bond election. There is a risk that voter support has subsequently moderated given TAV declines and tax rates in excess of those originally presented at the bond election. This could hinder the district's ability to issue future debt. However, Fitch notes that the current $23.50 per $100,000 TAV tax levy has remained constant for the past three years and that the district currently has no plans to issue further debt.

MIXED DEBT PROFILE

Overall debt is high at $5,614 per capita and 4.7% of TAV, driven by the district's construction of a new hospital. The district's slow debt amortization (approximately 30% in 10 years) and escalating debt schedule have the potential to diminish the district's debt management flexibility. The district maintains marginal exposure to interest rate swaps with a negative value of $26.3 million approximating 3% of spending.

The district has manageable pension costs and only a small liability associated with its OPEBs which are funded on a pay-as-you-go basis. The district's fiscal 2013 debt repayments, pension costs, and OPEB pay-as-you-go contributions cumulatively totaled an affordable 9.9% of total governmental spending, less capital.

Additional information is available at 'www.fitchratings.com'.

In addition to the sources of information identified in Fitch's Tax-Supported Rating Criteria, this action was additionally informed by information from Creditscope, University Financial Associates, S&P/Case-Shiller Home Price Index, IHS Global Insight, and National Association of Realtors.

Applicable Criteria and Related Research:

--'Tax-Supported Rating Criteria' (Aug. 14, 2012);

--'U.S. Local Government Tax-Supported Rating Criteria' (Aug. 14, 2012).

Applicable Criteria and Related Research:

Tax-Supported Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686015

U.S. Local Government Tax-Supported Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685314

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=811862

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. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Samsung Electronics Co., Ltd. today announced the appointment of Gregory Lee as President of the North America Headquarters (NAHQ) in addition to his role as President of Samsung Telecommunications America (STA) effective immediately. In his new role, Lee is responsible for overseeing Samsung businesses across all offices in North America which include Samsung Electronics America, Inc., Samsung Telecommunications America, LP and Samsung Electronics Canada, Inc., while still leading STA's mobile business operations and strengthening its leading positions in the smartphone and wireless markets in the U.S.

Lee became President of STA in Dallas five months ago and served as President of Samsung's Southeast Asia and Oceania Headquarters for the three and a half years prior. His previous role was as the Global Chief of Marketing in the Samsung Electronics Headquarters in Korea. As a recognized expert through his leadership and innovative operations in Southeast Asia, Lee continues to build STA's success and will now lead Samsung business management across North America.

NAHQ's outgoing President and CEO YK Kim will return to Korea as the advisor to the Global Marketing Operations in the Samsung Electronics Headquarters. During Kim’s nearly three-year leadership of NAHQ, Samsung became Interbrand’s top 9^th most valued brand, achieved significant business gains and expanded its philanthropic efforts.

About Samsung Electronics North America

Samsung Electronics North America (NAHQ), based in Ridgefield Park, NJ, is an arm of Samsung Electronics Co., Ltd. The company markets a broad range of award-winning consumer electronics, information systems, and home appliance products, as well as oversees all of Samsung’s North American brand management including Samsung Electronics America, Inc., Samsung Telecommunications America, LP and Samsung Electronics Canada, Inc. As a result of its commitment to innovation and unique design, Samsung is one of the most decorated brands in the electronics industry. For more information, please visit www.samsung.com. You can also Fan Samsung on www.facebook.com/SamsungUSA or follow Samsung via Twitter @SamsungTweets.

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. is a global leader in technology, opening new possibilities for people everywhere. Through relentless innovation and discovery, we are transforming the worlds of televisions, smartphones, personal computers, printers, cameras, home appliances, LTE systems, medical devices, semiconductors and LED solutions. We employ 270,000 people across 79 countries with annual sales of US$187.8 billion. To discover more, please visit www.samsung.com.

The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against INSYS Therapeutics, Inc. (Nasdaq: INSY) resulting from allegations that the Company may have issued materially misleading business information to the investing public.

On December 12, 2013, the Company disclosed that it has received a subpoena from the Office of Inspector General of the Department of Health and Human Services (HHS) regarding an investigation of potential violations involving HHS programs. The subpoena concerns Subsys®, including INSYS' sales and marketing practices relating to this product. On this news, shares of INSYS fell $7.56 per share, or by approximately 17%, during intraday trading on December 13, 2013.

The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information. If you purchased INSYS securities, you may visit the website at http://rosenlegal.com to join the action. You may also contact Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Kayne Anderson Energy Total Return Fund, Inc. (the “Fund”) (NYSE:KYE) announced today its quarterly distribution of $0.48 per share for the quarter ended November 30, 2013.

The distribution will be payable on January 10, 2014 to common stockholders of record on December 30, 2013, with an ex-dividend date of December 26, 2013. It is anticipated that none of this distribution will be treated as a return of capital for tax purposes. The final determination of such amount will be made in early 2014 when the Fund can determine its earnings and profits. The final tax status of the distribution may differ substantially from this preliminary information.

The Fund is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940 whose common stock is traded on the NYSE. The Fund’s investment objective is to obtain a high total return with an emphasis on current income by investing primarily in securities of companies engaged in the energy industry, principally including publicly-traded energy-related master limited partnerships and limited liability companies taxed as partnerships and their affiliates, energy-related U.S. and Canadian trusts and income trusts and other companies that derive at least 50% of their revenues from operating assets used in, or providing energy-related services for, the exploration, development, production, gathering, transportation, processing, storing, refining, distribution, mining or marketing of natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the Fund’s historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; commodity pricing risk; leverage risk; valuation risk; non-diversification risk; interest rate risk; tax risk; and other risks discussed in the Fund’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objectives will be attained.

Kayne Anderson MLP Investment Company (the “Company”) (NYSE:KYN) announced today its quarterly distribution of $0.61 per share for the quarter ended November 30, 2013. This distribution represents an increase of 2.5% from the prior quarter’s distribution of $0.595 per share and an increase of 10.9% from the distribution for the quarter ended November 30, 2012. This represents the thirteenth consecutive quarterly increase by the Company.

The distribution will be payable on January 10, 2014 to common stockholders of record on January 6, 2014, with an ex-dividend date of January 2, 2014. It is anticipated that a portion of this distribution will be treated as a return of capital for tax purposes. The final determination of such amount will be made in early 2015 when the Company can determine its earnings and profits. The final tax status of the distribution may differ substantially from this preliminary information.

Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, whose common stock is traded on the NYSE. The Company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates (collectively, “MLPs”), and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the Company's historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in the Company's filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company's investment objectives will be attained.

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Performance Technologies Inc. (“Performance Tech” or the “Company”) (NasdaqGM: PTIX) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Sonus Networks in a cash deal valued at approximately $30 million. Under the terms of the proposed transaction, Performance Tech’s stockholders will receive $3.75 for each share of Performance Tech common stock they own.

Request more information now by clicking here: www.faruqilaw.com/PTIX. There is no cost or obligation to you.

The investigation focuses on whether Performance Tech’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Performance Tech’s shareholders.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

If you own common stock in Performance Technologies and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/PTIX or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.

Global e-retailer Modnique announced the launch of its “Random Acts of Diamonds” campaign by sending diamond necklaces to 100 lucky customers around the world. Modnique, which offers a selection of imported and fine jewelry, will be awarding loyal shoppers a gift from Modnique at random. A playful take on “Random Acts of Kindness,” the Random Acts of Diamonds campaign is aimed at spreading holiday cheer one sparkling package at a time.

“We worked closely with our seasoned team of trend forecasters and gemologists to design the diamond circle-of-life necklace with which we will be surprising customers around the world”

Since the company’s inception in April 2011, Modnique has sold 1.5 million diamond jewelry pieces with the most expensive item sold at $36,000. Modnique has a full in-house team of Gemological Institute of America (GIA) certified gemologists who use a benchmark system recognized throughout the jewelry industry as the most accurate and strict grading standards for evaluating diamonds. Every piece of jewelry sold on Modnique has been individually purchased, quality certified, and graded by these highly experienced gemologists.

“We worked closely with our seasoned team of trend forecasters and gemologists to design the diamond circle-of-life necklace with which we will be surprising customers around the world,” said Ivka Adam, VP of Marketing and Mobile at Modnique. “Our #RandomActsofDiamonds campaign lets us to show our customers appreciation, delight them with a beautiful gift this holiday season, and showcase our expertise in jewelry.”

The Random Acts of Diamonds packages will include one white gold and diamond necklace valued at around $700 as well as five Modnique gift cards for the recipients to “pass on the love” to their friends and family. Once delivered, each package destination city will be announced on Modnique’s Random Acts of Diamonds landing page (pages.modnique.com/diamonds). Recipients are encouraged to share their delight through photos on Instagram and Twitter with the hashtag “#RandomActsofDiamonds.”

About Modnique

Modnique is a global fashion e-commerce company headquartered in Redondo Beach, Calif. Founded in 2011, Modnique runs boutique events for apparel, jewelry, shoes, handbags, watches, accessories, kids and beauty at up to 85 percent off retail. The company specializes in sourcing and shipping brands from around the world. New merchandise arrives daily and is featured in 36-72 hour events. Curated shops house inventory without an expiration date. Events and shops are sourced for the chic, international consumer and feature brand name items to suit any style or occasion. The majority of sales come from outside the U.S.

Market research firm Infonetics Research released excerpts from its latest Carrier WiFi Equipment report, which tracks WiFi equipment deployed by operators in public spaces for wireless internet access.

“Over the 5 years from 2013 to 2017, operators will spend a cumulative $8.5 billion on carrier WiFi equipment, led by mobile operators using carrier WiFi for data offload”

ANALYST NOTE

“Over the 5 years from 2013 to 2017, operators will spend a cumulative $8.5 billion on carrier WiFi equipment, led by mobile operators using carrier WiFi for data offload,” said Richard Webb, directing analyst for microwave and carrier WiFi at Infonetics Research. “This strong growth will gain additional impetus from the proliferation of small cells with integrated WiFi over the coming years.”

CARRIER WIFI EQUIPMENT MARKET HIGHLIGHTS

• Globally, revenue for carrier WiFi equipment, including carrier WiFi access points and WiFi hotspot controllers, totaled $338 million in the first half of 2013 (1H13)
  • Carrier WiFi revenue has already surpassed 2/3 of total revenue for the prior year
• The majority of carrier WiFi access points are WiFi hotspots
• North America has consistently dominated carrier WiFi revenue share since 2007, though by 2017 regional share shifts to Asia Pacific and EMEA
• As the carrier WiFi market evolves and more operators launch carrier WiFi services, Infonetics expects fluctuations in market share, with the top 5 positions—currently held by Cisco, Ericsson, Huawei, Ruckus, and Alcatel-Lucent—potentially shuffled

REPORT SYNOPSIS

Infonetics’ carrier WiFi report provides worldwide and regional market size, market share, forecasts through 2017, analysis, and trends for WiFi hotspot controllers and WiFi-only and dual-mode cellular/WiFi access points. The report includes carrier WiFi vendor announcements and customer wins and a Mobile Operator WiFi Offload Strategies Tracker. Vendors tracked: Airspan, Alcatel-Lucent, Cisco, Aruba Networks, Edgewater Wireless, Ericsson (BelAir Networks), Huawei, Motorola Solutions, NSN, Ruckus Wireless, and others. To buy the report, contact Infonetics: http://www.infonetics.com/contact.asp.

RELATED RESEARCH

• Infonetics’ latest Mobile and Wireless research brief: http://bit.ly/1d5DFWi
• Mobile operators leaning on self-organizing networks to keep opex in check
• Infonetics projects data center and enterprise SDN market will top $3 billion by 2017
• As operators strive for “zero touch networks,” optimization/self-organizing market grows
• LTE-Advanced, small cells to lift microwave equipment market; Huawei bounces back
• Operators look to consumer femtocells to increase ARPU via new apps and services
• Small cell ramp won’t happen this year
• Mobile operators reveal plans to monetize WiFi
• Infonetics forecasts M2M services to hit $31 billion, M2M connections to top 4 billion by 2017

RECENT & UPCOMING MARKET FORECASTS

Download Infonetics’ 2013 market research brochure, publication calendar, events brochure, report highlights, tables of contents, and more at http://www.infonetics.com/login.

• Infonetics’ new 2014 Market Research Lineup
• 2G, 3G, 4G Mobile Infrastructure & Subscribers - 3Q13 Edition (Dec. 3)
• Residential & Enterprise Femtocell Equipment - 3Q13 Edition (Dec. 5)
• 3G and 4G Mobile Broadband Devices & Subscribers (Dec. 10)
• Small Cell Mobile Backhaul Equipment (Dec. 12)

INFONETICS WEBINARS

Visit https://www.infonetics.com/infonetics-events to register for upcoming webinars, view recent webinars on demand, or learn about sponsoring a webinar.

• Monetizing Subscriber Data to Drive Big Revenue (Dec. 17: Attend)
• The Business Rationale for M2M (View on demand)
• How to Monetize Carrier WiFi (2014: Sponsor)
• Indoor Wireless Solutions: Technologies, Challenges and Backhaul (2014: Sponsor)

TO BUY REPORTS, CONTACT:

N. America (West), Asia Pacific: Larry Howard, larry@infonetics.com, +1 408-583-3335

N. America (East), Midwest, L. America: Scott Coyne, scott@infonetics.com, +1 408-583-3395

EMEA, India, Singapore: George Stojsavljevic, george@infonetics.com, +44 755-488-1623

Japan, South Korea, China, Taiwan: http://www.infonetics.com/contact.asp

ABOUT INFONETICS

Infonetics Research (www.infonetics.com) is an international market research and consulting firm serving the communications industry since 1990. A leader in defining and tracking emerging and established technologies in all world regions, Infonetics helps clients plan, strategize, and compete effectively. View Infonetics’ About Us slides at http://bit.ly/QUrbrV.

Ayer, IBM (NYSE:IBM) tomó conocimiento de una demanda que impulsaba una teoría de conspiración insensata. Esta demanda busca confundir el apoyo de IBM a una propuesta legislativa de seguridad informática en los EE. UU., que todavía no se ha promulgado, con un programa de vigilancia de la NSA denominado PRISM, con el cual no tiene relación alguna. Incluso una lectura apresurada de la propuesta legislativa, conocida como CISPA, deja en claro que no guarda ninguna relación con el programa de vigilancia de la NSA, recientemente descubierto. La legislación está diseñada para ayudar a proteger a las compañías de ataques informáticos al alentarlas a compartir la información técnica sobre amenazas informáticas, como códigos maliciosos. La capacidad que quienes reciben ataques tienen de trabajar juntos para prevenir los delitos informáticos es un requisito y un importante objetivo del negocio moderno, por lo cual muchas compañías, incluida IBM, apoyan esa legislación. Este proyecto de ley no se refiere a China ni autoriza la vigilancia del gobierno, hechos que el demandante y sus abogados podrían haber determinado con facilidad si se hubieran molestado en hacer una mínima verificación de los hechos.

A partir de esta conexión ficticia entre CISPA y PRISM, la denuncia procede a hacer numerosas acusaciones engañosas y falsas, e IBM le exige al estudio jurídico que interpuso esta acción que haga lo que corresponde y que la desestime de inmediato. Lo contrario representaría un profundo perjuicio al sistema judicial, al público y, en este caso, a IBM.

IBM luchará vigorosamente contra esta demanda infundada.

El texto original en el idioma fuente de este comunicado es la versión oficial autorizada. Las traducciones solo se suministran como adaptación y deben cotejarse con el texto en el idioma fuente, que es la única versión del texto que tendrá un efecto legal.

)--Aerogen, een medisch apparatuur- en geneesmiddelenbedrijf is onderscheiden met de Medical Technology Company of the Year Award 2013. Aerogen’s gepatenteerde vibrerende en op maastechnologie gebaseerde vernevelsysteem vormt vloeibare medicatie om tot een fijne deeltjesspray, zodat medicijnen op geleidelijke en effectieve wijze de longen bereiken van patiënten die zich in een kritieke toestand bevinden. Deze award is een erkenning van Aerogen´s strategische visie bij het leveren van vernieuwende en goedkope oplossingen voor gezondheidszorgverleners, waardoor het bedrijf een ontwikkeling en voortdurende internationale groei heeft onderhouden.

Deze award die wordt gepromoot door de Ierse Medical Device Association (IMDA), Enterprise Ireland en de IDA voor de medische technologiesector in Ierland, wordt toegekend met als doel het bevorderen en erkennen van excellente performance ten aanzien van de kwaliteit van producten en diensten, vernieuwing en marketing, verkoop en commerciële ontwikkeling, klantenzorg en professionele ontwikkeling van het personeel.

“Het is een grote eer voor Aerogen onderscheiden te worden met deze erkenning als Medisch Technologiebedrijf van het jaar 2013. Als Iers eigendomsbedrijf zijn wij er enorm trots op dat onze levensreddende producten in meer dan zestig landen ter wereld worden verkocht. Aerogen is vandaag wereldwijd de toonaangevende marktleider voor de acute toediening van vernevelingmedicijnen,” aldus John Power, CEO, Aerogen.

Aerogen heeft verschillende strategieën geïmplementeerd, van leidinggeven naar doelstelling tot aan de repatriëring van zijn productieproces, om de internationale groei van het bedrijf te stimuleren vanuit zijn Galway-basis. Door middel van zijn hoge prestaties leverende team hanteert het bedrijf een holistische benadering ten aanzien van de ontwikkeling van de bedrijfsactiviteiten voor medische apparatuur, met inbegrip van alle factoren, zoals de verkoop, marketing, techniek, productie en klantenzorg. Aerogen zal zich blijven uitbreiden en zich ontpoppen tot een waar Iers succesverhaal van medische apparatuur.

Aerogen’s producten worden vandaag gebruikt op intensive care-afdelingen in ruim 60 landen wereldwijd. Hiermee wordt optimaal zorg verleend aan de meest kritieke patiënten, van vroeggeboren baby's tot volwassenen. Naarmate het welvarende bedrijf blijft groeien, hebben al 1.000.000 patiënten de impact van Aerogen's succes kunnen ervaren en baat gehad bij de superieure performance van zijn producten.

Over Aerogen

• Aerogen is een internationaal bedrijf voor medische apparatuur en medicijntoediening, gespecialiseerd in het ontwerp, de productie en marketing van vernevelsystemen gericht op de ademhalingsbehandeling voor kritieke patiënten. Aerogen's gepatenteerde vibrerende en op maastechnologie gebaseerde spraysysteem is de kern van de in deze categorie toonaangevende producten voor medicijntoediening.
• Aerogen werd opgericht in 1997 en heeft zich ontwikkeld tot wereldwijd leider in vernevelaarapparatuur voor medicijntoediening in de acute zorg. Aeroneb® producten spelen vandaag een cruciale rol in de levensondersteunende ademhalingsbehandeling van patiënten in meer dan 65 landen ter wereld, en worden ook steeds meer gebruikt als thuiszorgapparatuur.
• Aerogen heeft een snelgroeiend team van meer dan 60 werknemers met een academische graad, vooral in wetenschappelijke, technische en commerciële richting, en vaak ook gepromoveerden.
• Aerogen is een dynamisch bedrijf dat zich voortdurend ontwikkelt door zich te richten op vernieuwende producten voor het creëren van nieuwe marktkansen. Door deze moderne benadering geeft Aerogen met zijn ruim 40 geregistreerde octrooien en permanente productontwikkeling, de koers aan op de markt van vernevelde medicijntoediening.
• Het bedrijf heeft ook partnerschappen met farmaceutische en biotechnologische bedrijven voor het ontwikkelen en leveren van superieure inhaleringsmedicijnkandidaten met behulp van zijn eigendomsplatform voor vibrerende fijnmazige sprayproducten.

Deze bekendmaking is officieel geldend in de originele brontaal. Vertalingen zijn slechts als leeshulp bedoeld en moeten worden vergeleken met de tekst in de brontaal, welke als enige rechtsgeldig is.

Girard Gibbs LLP, a national law firm specializing in securities litigation, is investigating potential claims on behalf of purchasers of INSYS Therapeutics, Inc. (“INSYS Therapeutics”) (NASDAQ:INSY) common stock or securities.

“has received a subpoena from the Office of Inspector General of the Department of Health and Human Services (“HHS”

The investigation concerns whether INSYS Therapeutics and certain of its officers and/or directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. INSYS Therapeutics, based in Chandler, Arizona, is a specialty pharmaceutical company that launched its first two products in the United States in 2012.

On December 13, 2013, before the markets opened for trading, INSYS Therapeutics filed a report with the U.S. Securities and Exchange Commission announcing that it “has received a subpoena from the Office of Inspector General of the Department of Health and Human Services (“HHS”) in connection with an investigation of potential violations involving HHS programs. The subpoena requests documents regarding Subsys®, including Insys’ sales and marketing practices relating to this product.”

On this news, shares of INSYS Therapeutics fell $7.05 or more than 15% during trading on December 13, 2013, to close at $38.06.

If you purchased INSYS Therapeutics shares or are aware of any facts relating to this investigation, or you would like to learn more information about this investigation, you may visit the website or please contact John Kehoe of Girard Gibbs LLP at (415) 544-6283 or by email at jak@girardgibbs.com.

Girard Gibbs LLP is one of the nation’s leading law firms representing individual and institutional investors in securities fraud class actions and litigation to correct abusive corporate governance practices, breaches of fiduciary duty and proxy violations. For more information, please access the firm’s website.

Ieri, IBM (NYSE:IBM) ha ricevuto comunicazione di un’azione legale basata su un’inverosimile teoria del complotto; infatti questa causa cerca di confondere il sostegno di IBM a una proposta legislativa sulla sicurezza cibernetica negli Stati Uniti – che ancora deve essere approvata – con il programma, completamente non correlato, di sorveglianza condotto dalla NSA e denominato PRISM. Anche da una veloce lettura della proposta legislativa, nota come CISPA, risulta chiara l’assenza di alcun rapporto con il programma della NSA divulgato recentemente. La legge proposta è concepita per contribuire a proteggere le aziende dagli attacchi cibernetici incoraggiando la condivisione di informazioni sulle minacce informatiche, come il malware.

Il testo originale del presente annuncio, redatto nella lingua di partenza, è la versione ufficiale che fa fede. Le traduzioni sono offerte unicamente per comodità del lettore e devono rinviare al testo in lingua originale, che è l'unico giuridicamente valido.

Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of UNS Energy Corporation (“UNS Energy” or the “Company”) (NYSE:UNS) relating to the proposed acquisition by Fortis, Inc. (“Fortis”).

Click here to learn more about the investigation http://brodsky-smith.com/683-uns-uns-energy-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.

Under the terms of the transaction, UNS Energy shareholders will receive only $60.25 in cash for each share of UNS Energy stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of UNS Energy for not acting in the Company’s shareholders’ best interests in connection with the sale process. The investigation seeks to determine if the UNS Energy Board of Directors failed to conduct an adequate auction process and as a result harmed the UNS Energy shareholders by undervaluing their Company.

If you own shares of UNS Energy common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, by visiting http://brodsky-smith.com/683-uns-uns-energy-corporation.html, or calling toll free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

Law Offices of Howard G. Smith announces that investors of Ixia (the “Company”) (NASDAQ:XXIA) have until January 14, 2014, to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of Ixia securities between April 29, 2010 and October 24, 2013, inclusive (the “Class Period”).

Ixia delivers information technology solutions including real-time monitoring, real-world testing, and rapid assessment of network and system user behavior, security vulnerabilities, capacity, application performance, and IT resiliency. The Complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the defendants misrepresented or failed to disclose that:

• The Company improperly recognized revenues related to its warranty and software maintenance contracts.
• The Company’s Chief Executive Officer misstated his academic credentials and employment history.
• The Company lacked adequate internal and financial controls.

If you are a member of the Class described above, you have certain rights and have until January 14, 2014, to move for lead plaintiff status. To be a member of the class you need not take any action at this time or may retain counsel of your choice. If you purchased shares prior to the Class Period and wish to learn more concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.