Tag: municipal bonds
Puerto Rico bondholders come up short
In January 2016, the Puerto Rico Power Authority (PREPA) entered into a restructuring support agreement with the great majority of its bondholders… In February 2016, the Puerto Rico legislature passed a law allowing the restructuring to move forward… But the agreement has conditions which were never met… Time is the enemy of deals… And so, […]
Trouble in paradise?
Puerto Rico is in bankruptcy… The Virgin Islands may be next, according to the New York Times article After Puerto Rico’s Debt Crisis, Worries Shift to Virgin Islands… All the same problems, on a smaller scale… Hard to believe that all the special tax breaks in these jurisdictions will survive…
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