SAN FRANCISCO, Feb 5- Florida will come to the market with $1.2 billion in revenue bonds on Feb. 8 issued by the State Board of Administration Finance Corporation, formerly known as the Florida Hurricane Catastrophe Fund. Standard& Poor's Rating Agency raised the credit's rating on the bonds to AA from AA- based in part on the consistent growth in the assessment...» Read More
Puerto Rico faces three major debt-related deadlines next week, all with potentially severe monetary consequences.
BEIJING, Aug 27- China has expanded its debt-for-bond swap programme for local governments to 3.2 trillion yuan from 2 trillion yuan, state news agency Xinhua quoted Finance Minister Lou Jiwei as saying on Thursday. The programme, which is meant to ease the financing pressure on China's heavily indebted local governments, has been steadily expanded from a...
CNBC explains: What is a correction? How do they come about? What do they mean for the stock market?
Aug 19- Detroit's post-bankruptcy debut in the U.S. municipal bond market on Wednesday resulted in hefty yields for $245 million of bonds, signalling that investors remain skeptical of the city's recovery. The bonds earned an investment-grade A rating from Standard& Poor's largely based on a Michigan law that placed a specific statutory lien on Detroit...
NEW YORK Aug 18- Puerto Rico postponed until later this week its first bond sale in public markets since it defaulted, investors said on Tuesday, an offering that according to Fitch ratings agency may attract high-yield municipal funds. According to data company IPREO, the $750 million deal for the Puerto Rico Aqueduct and Sewer Authority was slated to price on...
SHANGHAI, Aug 17- China has been pushing local governments out of shadow banking and into the sunlight with a 2.6 trillion yuan bond program, all in the name of financial reform. Investors, though, seem to like it just fine in the shadows- and Beijing seems to be quietly encouraging them. "When they let LGFVs tap the bond markets and bank financing again, it was an...
SHANGHAI, Aug 14- A municipal bond auction by Qingdao municipality in north China was fully subscribed on Friday, traders said, following last Friday's undersubscribed auction by Liaoning province. The Liaoning auction was the first to publicly fail to achieve full subscription in 2015.. Investors have been watching closely to see if the Liaoning result...
As Puerto Rican debt grows riskier, investors seeking high yield should seek out individual projects, a top bond analyst said.
How to play Puerto Rico's debt crisis, with Shawn O'Leary, Nuveen Asset Management.
Puerto Rico's job base continues to shrink, taking its economy along with it.
Puerto Rico's Government Development Bank announced that it was only able to make a partial payment on its Public Finance Corporation debt.
Casino hub Atlantic City had its credit rating cut Monday amid concerns about a dissolving tax base and fiscal reforms.
Puerto Rico, already hobbled by debt, is weighed down by outdated infrastructure that has increased the cost of doing business on the island.
Even if the U.S. government won't allow Puerto Rico Chapter 9 bankruptcy, the territory could still potentially get by.
Puerto Rico faces two options to resolve its debt crisis, and both look difficult as a payment deadline looms, one expert said.
Puerto Rico's expected default on debt due Saturday would be the start to what could end up becoming one of the largest municipal restructurings.
High-yield Puerto Rican bonds hold upside, but big risks remain as the commonwealth could fail to meet its next payment deadline.
CNBC's Kate Kelly reports on Puerto Rico's debt problems, and whether the Public Finance Corp. can come up with the money to pay its bondholders.
Discussing Puerto Rico bonds and opportunities in the municipal bond market, with Daniel Solender, Lord Abbett partner.
Puerto Rico's growing debt crisis has raised fears about the safety of the municipal bond market, but those fears may be overblown.