A pair of big bond insurers with more than $10 billion of exposure to Puerto Rican debt have hired restructuring advisers.» Read More
Aflac Inc. fell$. 12 or. 2 percent, to $59.07. American International Group rose$. 08 or. 2 percent, to $52.53. MGIC Investments Corp. rose$. 08 or. 9 percent, to $7.98.
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.
NEW YORK, March 18- Standard& Poor's upgraded bond insurer MBIA Inc on Tuesday, saying it expects the company to gain market share and resume its prior role as a strong player in guaranteeing U.S. municipal debt.
While the markets are hoping to see a March thaw, reports of February data in the week ahead may show the economy is still feeling a bit chilled.
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U.S. stock index futures pointed to a lower open on Wall Street on Tuesday.