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German Ramirez and Richard Prann of HJ Sims talk from Puerto Rico about the situation on the island and discuss COFINA and the IRS, what's new with the GDB bonds and with the commonwealth's GOs. Chip Barnett hosts.
June 25
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Better Housing Foundation defaulted on $84 million of bonds and lacks funds to maintain the properties.
June 24
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The troubles of the Better Housing Foundation bonds had been flagged in earlier rating downgrades and disclosure statements.
June 11
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A trend of selective repudiation in the manner of Platte County would be credit negative for governments using lease appropriation debt, said Moody's.
June 7
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The Florida Department of Transportation wants a court to decide who is responsible for setting tolls to service debt that financed the Garcon Point Bridge.
June 5
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Platte County may still face market penalties, even though it's not legally required to fund annual debt service supported by its appropriation pledge.
May 31
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Platte County wants a summary judgment that would let it off the hook for debt issued with its appropriation pledge for the Zona Rosa shopping center.
May 30 -
Holders of $20 million of bonds received $3 million from the sale of the facility.
May 15
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As the company moves to exit Chapter 11, it wants Ohio and Pennsylvania to force ratepayers to subsidize its unprofitable nuclear power plants.
May 2
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The debt service reserves for the Better Housing Foundation deals were drained to make the last bond payment.
April 30
