WASHINGTON — Bond lawyers and issuers are urging the Municipal Securities Rulemaking Board to withdraw or revise guidance that warns underwriters against consenting to changes for bonds that could hurt parity bondholders, unless the changes are authorized by bond documents.

Parity bonds are in separate issues, but have equal claims on the same underlying security and source of payment for debt service.

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.