Hartford, Connecticut’s fiscally distressed capital city, will get a much-needed lifeline after its city council on Monday approved a deal to have the state pay its debt. The accord, part of a broader oversight plan that state lawmakers agreed to …
Shares of three major bond insurance firms with exposure to Puerto Rico fell on Monday after a “60 Minutes” episode aired on Sunday highlighted the extensive damage wreaked on the island by Hurricane Maria. Andrew Gadlin, a research analyst at …
Puerto Rico bond insurer Assured Guaranty Ltd. said late on Friday it voluntarily withdrew a complaint that challenged the legality of the island’s fiscal turnaround plan, citing the devastating impact of Hurricane Maria. The move may temporarily ease Puerto Rico’s …
Hartford, Connecticut’s cash-strapped capital city, suffered a fresh round of credit rating downgrades deeper into junk territory by two Wall Street credit agencies on Tuesday, a day after the city’s bond insurers said they were open to debt restructuring. The …
Securities insurer Assured Guaranty Ltd. said on Monday it would grant Hartford, the capital of Connecticut, a municipal bond that offers financial support, a move that could help the city avoid filing for bankruptcy. Hartford would likely seek to file …
Assured Guaranty Ltd. and JPMorgan Chase & Co. agreed to settle lawsuits filed by the bond insurer accusing the bank’s EMC Mortgage and Bear Stearns units of making misrepresentations about mortgage-backed securities. Assured Guaranty Corp., a New York-based unit of …
