Bond defaults

COVID-19 hit the Lombard, Illinois, Westin hotel and conference center hard, knocking repayment of bonds restructured in a 2018 bankruptcy off track.

Harvey began posting financial and bond delinquency notices this year as it tries to overcome its deep fiscal strains and past mismanagement that drew regulatory and bondholder ire.

Underwriter Cantone Research’s alleged fraudulent misrepresentations are tied to two defaulted bond offerings.

A lawsuit accusing underwriter Stifel of negligence on one bond issue is pending and broader claims related to the financings are being considered.

S&P has Muncie and Plainfield on its watch list with negative implications.

The reserve was used to make a $9.3 million Aug. 2 payment on about $290 million of debt. About $9.3 million is left in the fund, enough for the Feb. 1 payment.

A project that dealt municipal bond investors one of the biggest high-yield defaults of the past decade is about to ask them for more cash

The hiring of an underwriter moves the city closer to a debt restructuring that is called for in a legal agreement with holders of defaulted bonds.

The Great Lakes Senior Living Communities is working with holders of its $380 million of debt to raise funds for needed capital expenses

According to disclosure notices, payments on two series of bonds issued in 2017 weren’t made on July 1 because of insufficient funds.

The two issuers that defaulted suffered from pre-existing conditions, according to Moody's analysts.

S&P said the rating on the senior living revenue bonds Capital Trust Agency issued for borrower H-Bay Ministries Inc. of Texas will now be withdrawn in 30 days.

Final payouts are approaching for $170 million of defaulted BHF bonds with haircuts ranging from less than 10% to more than 50%.

The Westin Lombard Yorktown Center in Chicago's suburbs reopened over the summer, but isn't drawing enough business to cover a Jan. 1 debt service payment.

As travel declines during the coronavirus pandemic, munis backed by tourists' cash may come under increasing financial pressure.

Federal CARES Act grants and loans, and bond market access, have helped mitigate the financial damage to hospitals caused by the pandemic.

Park Place at Elmhurst would restructure and redeem $141 million of bonds issued to exit its 2016 Chapter 11 under a plan pending before a bankruptcy court.

The default-ridden Chicago suburb says the court's action to give it back control of its water operation could aid its 2021 objective of restructuring debt.

The lawsuits concern bond disclosure in South Carolina, a Florida toll bridge default, and the federal water rights fight between Florida and Georgia.

The refusal to hear the bond trustee's appeal appears to end the litigation over whether Platte County bears legal responsibility to repay the debt.