May 9, 2018 / 9:59 PM / 6 months ago

Puerto Rico dominates U.S. public finance defaults - S&P

The bad news on U.S. public finance bond defaults was they posted their second-highest rate on record last year, according to credit rating service S&P Global Ratings. The good news for investors holding public debt was that 0.09 percent rate - for issuers S&P rates – remained concentrated in Puerto Rico, which with its more than $120 billion in combined bond and pension debt, is undertaking the biggest ever financial restructuring by a U.S. governmental entity.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2IsAO3q

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