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The deal comes as high-yield muni investors are hungry for paper.
May 8
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Senior bonds most recently traded for 30 cents on the dollar.
May 6
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Brightline Florida's financial statements for 2024 and 2025 by Ernst & Young LLP, filed Thursday on the Electronic Municipal Market Access website, warn that the company lacks the cash to cover pending debt payments
May 1
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"We do good work," said Mike LaPierre, president of GPM Municipal Advisors, which acts as advisor and staff to the Public Finance Authority and the California Community Housing Agency.
April 30
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Saint Michael's College was downgraded to B3 from B1, as Moody's cited growing expenses and lower revenues.
April 30
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The PFA owns nine bond-financed credits, ranging from proton cancer therapy centers to student housing. All but one are in default.
April 22
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The risk of contagion to the rest of the high-yield market is limited, investors said.
April 21
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The college's closure is the "tip of the higher ed iceberg," said a bond buyer.
April 15
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Financial mismanagement and apparent revenue diversion led to events of default for centers owned by and financed through the PFA, the bond trustee said.
April 9
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The city and United Airlines are navigating geopolitical volatility looking for an opportunity to sell the debt.
April 7
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Brightline asked S&P to withdraw its rating after the latest downgrade.
March 6
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Jeffrey Puzzullo is the fourth person to plead guilty in the now-notorious Legacy Cares case.
March 6
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The fund plans to liquidate remaining assets, although a class-action lawsuit may delay final distributions.
February 27
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Money is flowing into mutual funds and buyers are snapping up deals.
February 20
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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.
February 11
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The downgrade reflects ongoing underperformance in ridership and revenues relative to Kroll's expectations.
February 9
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Potential buyers besides Emory University include Georgia-based health systems, other proton therapy operators and private equity firms.
February 4
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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.
January 29
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Subordinate bondholders will likely be wiped out.
January 26
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Fitch's three-notch senior bond downgrade reflects "substantial credit risk."
January 20
