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The business-friendly U.S. Supreme Court will shortly decide two cases that could impact investors’ recovery rights for decades. The key question is whether the Court will roll back existing law that currently protects investors. The stakes for Mom and Pop investors are huge; if the business lobby wins either of […]
Puerto Rico officials confirmed Tuesday on a conference call what many in the municipal bond market had been anticipating; it will return to the market with the intention to sell close to $3 billion of debt in March. The market will be closely watching this bond offering, as the proceeds […]
After seven years of recession, a ballooning budget deficit and billions in unfunded pension liabilities, Puerto Rico’s bonds last week were downgraded by two agencies, Standard & Poor’s and Moody’s, to “junk” status. The third rating agency, Fitch, is likely to follow the other two agencies and downgrade Puerto Rico […]
UBS Puerto Rico bond investors better look out; the giant investment bank’s research analysts just dropped the first shoe on your heads. Last week, UBS issued a report stating that at least one of the Big 3 rating agencies, Moody’s, Fitch or Standard & Poor’s, will cut a swath of […]
The vulture hedge funds are circling Puerto Rico’s $70 billion municipal bond market and are about to swoop. This is another round of disturbing news for Mom and Pop investors who own UBS closed-end Puerto Rico bond funds as well as the tens of thousands of other investors who own […]
The clock is ticking towards a default by Puerto Rico on its massive municipal bond debt. According to a report last week in the Financial Times, some creditors met in New York City to discuss a possible restructuring of Puerto Rico’s massive $70 billion debt with “restructuring specialists.” The specialists, […]