A financial advisor for the struggling company behind the Yankee Stadium parking garage project urged investors in $237.6 million of related bonds to accept a haircut to help keep the company out of bankruptcy.

“The outstanding bonds must be restructured to reflect the present level of cash from operations, which will require reductions in the principal amounts of the bonds,” Edward Moran, chief restructuring officer for the Bronx Parking Development Corp., said in a report to trustee U.S. Bank posted on the Municipal Securities Rulemaking Board’s EMMA site. “Unless debt service costs are lowered through a voluntary restructuring, bankruptcy will be BPDC’s only available option.”

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