Bankruptcy

Atlantic City, N.J., averted default Monday by making a $1.8 million debt service payment, but it’s far from certain the struggling city can make other such payments this year.

Puerto Rico imposed a moratorium on Government Development Bank principal payments Monday while also announcing two restructuring deals on the GDB debt.

Some investors in Harvey, Illinois debt report being stiffed on a bond payment, though the city has not made any disclosures through the EMMA system.

As Puerto Rico faces bond defaults on Monday and July 1 without legislative relief from Congress, analysts say new litigation is increasingly likely.

The future of pension obligation bonds remains cloudy in California in the wake of the haircuts imposed on their holders in the San Bernardino and Stockton bankruptcies.

San Bernardino is on track to exit bankruptcy by the end of the year, City Attorney Gary Saenz said.

Ferguson, Missouri’s bond ratings fell deeper into junk territory amid the fiscal strains of dealing with fallout from a controversial 2014 fatal police shooting.

A vote on the Puerto Rico bill may be stalled until mid-July as many, including unions and other groups, press for changes to address concerns over debt restructuring and oversight board provisions as well as to protect the island's pensioners

A new bill proposed in the New Jersey State Senate would allow financially distressed Atlantic City and other coastal municipalities to end costly lifeguard pensions.

Kentucky’s Attorney General Andy Beshear has asked the Executive Branch Ethics Commission to probe improprieties of public corruption alleged by Gov. Matt Bevin.