Clips

All articles link to a pdf version by clicking the pdf after the title. Titles link to the article on the company’s website when available.

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Puerto Rico Governor’s comments in Senate hearing raise questions of history of fraud (pdf) – October 23, 2015

A comment in a US Senate hearing by Puerto Rico Governor Alejandro Garcia Padilla prompted me, with my colleagues Simone Baribeau and Andrew Scurria, to follow up on if Puerto Rico has made a habit of lying to the investing community. 

Puerto Rico Electric Power Authority monoline insurer negotiations may hinge on a Government Development Bank bond (pdf) – October 14, 2015

As Puerto Rico and its creditors continue to negotiate its debt, the structure of credits relative to each other and the connections between credits are increasingly important. This article looked at how an upcoming debt payment for the Government Development Bank could be critical for renegotiating the debt of the local power authority. While these two entities sound separate, with the same insurer involved in both sets of negotiations they are not as distinct as one might think. 

Flint City hitched to Karegnondi Water Authority for now (pdf) – July 15, 2015

While the Flint water crisis grabbed national headlines in January 2016, this article laid out why the city, despite complaints about water quality, was not allowed to reconnect to the Detroit Water and Sewerage Department. This is the sort of forward-looking intelligence that Debtwire subscribers look for. Subscribers knew many of the intricacies that took nearly six months to become discussed at a national level. 

Puerto Rico legislature moves toward sales and use tax distribution changes (pdf) – June 9, 2015

What was once perceived as one of the most secure revenue streams in Puerto Rico – the sales tax – has faced scrutiny regarding its legal standing. This legislation, which I covered with my colleague Xavira Neggers Crescioni, would change the way sales tax was collected potentially weakening the revenue promise.

Debtwire

Pending federal legislation could yield more than USD 1.3bn for drought impacted California water agencies (pdf) – August 5, 2015

Puerto Rico enjoys bond rally while it shuffles the deck chairs (pdf) – Oct. 31, 2013

Detroit’s Orr visits Goldman Sachs as bankruptcy court runs out of cash (pdf) – Oct. 4, 2013

Detroit swap litigation could join proceedings following two hearings in New York (pdf) – Sept. 11, 2013

Puerto Rico debt downgrade would not cause mutual fund exodus (pdf) – June 13, 2013

Bay Delta Conservation Plan’s ‘twin tunnels’ add USD 16.6bn of expenses to Southern California water utilities – New Coverage (pdf) – June 3, 2013

Michigan not evaluating Wayne County despite leadership’s statements of financial distress (pdf) – May 7, 2015

Long Island Power Authority faces privatization debate amid post-Sandy fallout (pdf) – Jan. 15, 2013

Colorado Springs Urban Renewal Authority to remain in default, continue debt service reserve draws to make bond payments (pdf) – Dec. 10, 2012

New governor Garcia Padilla will not be able to chart a new path for pensions in Puerto Rico (pdf) – Nov. 9, 2012

Compton Community Redevelopment Agency faces cocktail of financial difficulties, city audit problems – New Coverage (pdf) – Oct. 10, 2012

Argus Media

US planted corn acreage to increase by 4pc – Update (pdf) – March 30, 2012

USMC products – Chicago ULSD differentials firm (pdf) – March 22, 2012

Bloomberg News

Banks adding ex-government leaders to boards (pdf) – Nov. 16, 2011

BofA Targets New Jersey for Closings in Retreat: BGOV Barometer (pdf) – Oct. 14, 2011

Progressive Profit Falls 42% to $150.7 Million on Investments, Storm Costs (pdf) – Oct. 12, 2011

U.S. Insurers Have Deepest Catastrophe Losses Since 2001 (pdf) – Oct. 7, 2011

Geithner Hands Loss to Bailout Warrant Holders: BGOV Barometer (pdf) – Oct. 7, 2011

The Buffalo News

Used-car values reach new heights (pdf) – Aug. 15, 2011

The university of penny-pinching (pdf) – Aug. 8, 2011

Bethune Lofts project moves forward as $1.05 million purchase is completed (pdf) – June 23, 2011

Tunnel will increase Canada’s power generation capacity (pdf) – June 19, 2011

Midland Daily News

Reduce, reuse, recycle: Midland sees increase in participation with new recycling program (pdf) – March 14, 2011

Central Michigan Life

Mount Pleasant man ministers through competition (pdf) – April 26, 2010

Five-county sting recovers $4.2 million worth of marijuana; eight people arrested in Isabella County for growing (pdf) – Sept. 20, 2010