Speculative grade bonds

Brightline asked S&P to withdraw its rating after the latest downgrade.

Jeffrey Puzzullo is the fourth person to plead guilty in the now-notorious Legacy Cares case.

The fund plans to liquidate remaining assets, although a class-action lawsuit may delay final distributions.

Money is flowing into mutual funds and buyers are snapping up deals.

The price drops follow a lawsuit filed Friday by bondholders alleging the mall's owners colluded with the city of East Rutherford to lower the property assessment.

The downgrade reflects ongoing underperformance in ridership and revenues relative to Kroll's expectations.

Potential buyers besides Emory University include Georgia-based health systems, other proton therapy operators and private equity firms.

The governor, in the final year of his term, asked lawmakers to approve reforms that would fix the Virgin Islands Water and Power Authority's balance sheet.

Subordinate bondholders will likely be wiped out.

Fitch's three-notch senior bond downgrade reflects "substantial credit risk."

The Florida train is struggling to generate enough revenue to pay its debt.

Eurostar veteran Nicolas Petrovic will oversee the Florida system while Mike Reininger will focus exclusively on Brightline West.

Fitch Ratings downgraded Nebraska's Regional West Health Services by two notches, lowering its long-term issuer default rating to CCC from B-minus.

The dramatic downgrade projects a default by January 2027 on bonds issued to finance the Miami-to-Orlando passenger train service.

Two student housing developments in Orlando and Tampa, Florida, financed by speculative-grade bonds in 2024, have shown signs of strain.

The company has the option to defer interest payments three times without triggering a formal default.

Concerns about Brightline have dragged down performance in the high yield sector this year.

Fortress Investment Group bought the property in 2021 after it was largely destroyed by Hurricanes Irma and Maria and financed a major renovation that featured reinforcement standards designed to protect against a category 5 hurricane.

The new debt is a "bridge loan" until the company can raise fresh financing, a bondholder said.

Bonds have traded up since the company last week announced a tentative bondholder deal and project update and financing details.