BOND INSURERS FIGHT TO AVOID PAYING CLAIMS

PUERTO RICO CRISIS BOND INSURERS FIGHT TO AVOID PAYING CLAIMS

STREETS ARE FLOODED STREET AROUND DAMAGED HOUSES IN JUANA MATOS, CATANO, PUERTO RICO, PICTURED SEPTEMBER 21, 2017, FOLLOWING HURRICANE MARIA'S ARRIVAL.

In total, Ambac racked up nine Puerto Rican debt-related litigation efforts by June 30, according to its second-quarter SEC filing.
The conflict stemmed in part from the Puerto Rican government's plan to funnel sales taxes, meant to back so-called COFINA bonds, to its general obligation debt.
While still struggling to remedy widespread power outages and destruction wrought by Hurricane Maria, the Puerto Rican government is working to restructure its debt.

While still struggling to remedy widespread power outages and destruction wrought by Hurricane Maria, the Puerto Rican government is working to restructure its debt. Insurers of those debt bonds, on the other hand, are at...

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Article ID: 201260 Date: 8th November, 2017 Social Shares: 58
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