BRADENTON, Fla. - Florida's Citizens Property Insurance Corp. yesterday received authorization to move forward with the sale of up to $2.5 billion of bonds.

The debt is needed to provide liquidity if necessary to pay property insurance claims in the hurricane-prone state's highest risk areas, which generally consists of the state's entire coastline.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.