Bond defaults

The U.S. Virgin Islands WAPA said the Public Service Commission's reduction of electric rates jeopardizes its ability to pay bills and provide electric service.

Notre Dame College in Ohio faces legal action on at least three fronts after defaulting on bond debt and a swap agreement and allegedly misusing donor funds.

The $44 million of unrated bonds, placed only with qualified investors, feature 9.5% coupons.

The cut to the American Dream mall's assessed value is a warning sign to bondholders whose debt payments are tied to how much the property is worth.

Randy Miller, 70, and Chad Miller, 41, entered guilty pleas Wednesday in the Legacy Cares securities fraud case and will be sentenced at a later date.

Part of the problem is lack of reimbursement from insurance companies, said the owner of one proton center.

The bond trustee filed notice of a settlement that would extend the maturity of the Industrial Development Authority of Platte County Zona Rosa bonds 30 years.

Fallout from the Legacy Cares deal includes bondholder lawsuits against the underwriter and bond counsel, payment defaults, a Chapter 11 bankruptcy, and now fraud charges from the SEC and DOJ.

The SEC and DOJ announced charges in connection with municipal bonds issued for the Legacy Cares sports complex in Arizona, which defaulted and went bankrupt.

An Illinois park district became the only local general obligation credit to default in 2024, according to Municipal Market Analytics.