38 Studios
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Moody’s affirms 38 Studios bond rating on R.I.’s moral obligation
Moody’s Investors Service – a globally recognized rating company – affirmed the ‘A2’ rating on 38 Studios’s bonds since the bonds’ “stable” outlook is based on the state’s moral obligation pledge, which high-ranking Rhode Island officials say they intend to honor. more
EDC hires firm to investigate parties in 38 Studios deal
The R.I. Economic Development Corporation has hired Providence law firm Wistow & Barylick to pursue legal action against “third parties” connected with the 38 Studios LLC loan guarantee, Gov. Lincoln D. Chafee announced Tuesday. more
38 Studios employees attend job fair
Several 38 Studios employees attended a Providence recruiting event by video game-creator Turbine Inc., according to WPRI-TV CBS 12. more
| 5/23/12
EDC grants $1M loan guarantee to eNow Inc.
The R.I. Economic Development Corporation has guaranteed a $1 million loan to eNow Inc., an expanding Providence company that makes solar power systems for trucks. more
Suit over 38 Studios deal risks collateral damage
Rhode Island’s $75 million loan guarantee to 38 Studios LLC was already synonymous with bad judgment. The state’s lawsuit against the deal’s participants now attempts to link it with fraud and incompetence. more

By Patrick Anderson
PBN Staff Writer | 11/12/12

Missed opportunity on credits
Cornish Associates President and CEO Arnold “Buff” Chase said his company has five historic Providence buildings lined up to buy and restore once Rhode Island brings back its historic tax credit program. more
Three more EDC board members to step down
(Updated, Feb. 28, 11:45 a.m.) Three more members of the R.I. Economic Development Corporation Board of Directors have announced their intention to step down, bringing to eight the number who have left or asked off the board since last spring. more
Chafee: State eager to aid small-business growth
At a business-community outreach forum on June 5, Gov. Lincoln D. Chafee made it clear that despite the dark cloud of 38 Studios LLC’s implosion hanging over Rhode Island, the state remains ever-ready to help small-business development. more
Guarantee program on new course
The $1.5 million loan Rhode Island guaranteed for NuLabel Technologies Inc. of Providence last August bears little resemblance to the $75 million taxpayer-backed financing package delivered out of the same program to Curt Schilling’s 38 Studios LLC a year earlier. more
38 Studios’ critics grow after missed fee payment
Swipely CEO Angus Davis was one of many skeptics of Rhode Island’s $75 million loan guarantee to former Red Sox pitcher Curt Schilling’s 38 Studios LLC video game startup two years ago. Now he has even more company in the business community urging state leaders not to sink any more money into the embattled Providence firm since it defaulted on part of its public-financing deal. more
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