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The agreement has the potential to ease pressure on $1.7 billion of separate tax-exempt bond debt taken on to finance the massive mall and entertainment venue.
November 18
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Nonprofit Legacy Cares failed to make three monthly payments to support debt service on $284 million of bonds issued for a multiport venue in Mesa, Arizona.
October 31
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Maryland Heights, Missouri, believes the fiscal strains from the St. Louis Blues practice facility will fade as activity picks up without pandemic restrictions.
October 13
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Moody's said 35 out of the 82 borrowers that disclosed first-time draws on debt service reserve funds since April 2020 have averted delinquency "at least for now."
August 16
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Officials are aiming by fall to finalize a bond exchange offer that would restructure general obligation bonds and resolve a legal dispute with bondholders.
August 4
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The New Jersey mall, the nation's second largest, faces an interest payment on Aug. 1 after drawing down a debt service reserve for a payment earlier this year.
July 18
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The mall's developer was late paying funds used to support $800 million of municipal bonds, requiring a draw on reserves to make an interest payment.
June 17
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Talks between original holders and a law firm over potential securities fraud litigation did not pan out, and trustee UMB NA has canceled all the bonds.
June 14
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Moody's views 16 first time payment delinquencies over the last two years impacting $1.46 billion of debt as related to the pandemic's toll on the senior-living sector.
April 18
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Graceland drew on reserves to cover the Jan. 1 payment on two bond series and three other series were unable to make their interest payments.
February 16
