The U.S. Virgin Islands share many of the same fiscal problems that have made Puerto Rico insolvent: high levels of debt, mounting pension obligations and a declining population. It also has lost several large private employers.
The Virgin Islands have a $110 million budget deficit, and recently failed at raising $220 million in new bonds. This was the second time in two months the territory has called off a planned bond sale.
U.S. mutual funds currently hold nearly $1 billion in Virgin Islands bonds, according to Morningstar.
We are investigating the suitability of Virgin Islands bonds for elderly, retired or conservative investors who are investing their brokerage accounts for safe income.
If you have suffered a loss from a U.S. Virgin Islands bonds, please contact our firm for an evaluation of your investment.