A pair of big bond insurers with more than $10 billion of exposure to Puerto Rican debt have hired restructuring advisers.» Read More
Aflac Inc. fell$. 68 or 1.1 percent, to $59.84. American International Group rose$. 27 or. 5 percent, to $55.35. MBIA rose$. 09 or. 9 percent, to $9.78.
Aflac Inc. fell$. 87 or 1.4 percent, to $59.65. American International Group rose$. 26 or. 5 percent, to $55.34. MBIA rose$. 02 or. 2 percent, to $9.71.
Aflac Inc. fell$. 17 or. 3 percent, to $60.35. American International Group rose$. 23 or. 4 percent, to $55.31. MBIA fell$. 04 or. 4 percent, to $9.65.
Aflac Inc. fell$. 53 or. 9 percent, to $60.52. American International Group fell$. 11 or. 2 percent, to $55.08. MBIA fell$. 23 or 2.3 percent, to $9.69.
Aflac Inc. fell$. 46 or. 8 percent, to $60.59. American International Group fell$. 29 or. 5 percent, to $54.90. MBIA fell$. 20 or 2.0 percent, to $9.73.
Aflac Inc. fell$. 48 or. 8 percent, to $60.57. American International Group fell$. 59 or 1.1 percent, to $54.60. MBIA fell$. 16 or 1.6 percent, to $9.77.
Ambac was also negotiating on behalf of Erste Europäische Pfandbrief-und Kommunalkreditbank AG, the holder of the bonds, and Wells Fargo Bank, the bond trustee and the flagship bank of Wells Fargo& Co. Details of the negotiations are subject to a judicial gag order.
July 23- Momentum is building toward a deal that would make painful losses inevitable for investors holding about $20 billion in bonds issued by Puerto Rico's highway, water and electricity authorities even as some big U.S. mutual funds launch a legal battle to squelch a new law that authorizes a restructuring.
June 30- Puerto Rico's troubles continued to worsen on Monday after mutual funds holding about $1.7 billion in its debt sued the commonwealth while other investors sold the bonds on concerns the island's finances could deteriorate further.
June 30- U.S. mutual funds holding about $1.7 billion in Puerto Rico debt have sued the cash-strapped commonwealth, accusing it of passing a law modeled after the U.S. bankruptcy code that could undermine the rights of American investors.
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WASHINGTON, April 9- Detroit on Wednesday struck a deal with a core group of creditors that could ease concerns about the treatment of certain bonds in its landmark bankruptcy case and pave the way for compromises with other creditors.
WASHINGTON, April 9- The city of Detroit on Wednesday struck a deal with bond insurers over a key class of debt in its landmark bankruptcy case that significantly reduces bondholder losses and could pave the way for agreements with other creditors.
Detroit has reached a settlement with bond insurers over treatment of the city's bankruptcy debt, emergency manager Kevyn Orr told CNBC.
WASHINGTON, April 9- Detroit has reached a settlement with three bond insurers on $388 million of its unlimited tax general obligation bonds, a court-appointed mediator said on Wednesday.
April 9- Detroit has reached a settlement with bond insurers over the treatment of some bonds in the city's bankruptcy, and a court-appointed mediator is expected to announce the details later on Wednesday, a spokesman for the city said.
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