The bond insurer for Harrisburg, Pa.'s troubled incinerator renovation project has rejected a request from the city to forgive $100 million of debt.

"There is absolutely no rationale for a $100 million concession," Holly Horn, chief surveillance officer for public finance for Assured Guaranty Municipal Corp. of New York, said in a letter to Mayor Linda Thompson. "Assured Guaranty has attempted for over two years to reach a viable solution with absolutely no cooperation from City Council."

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