MuniLand

Best of muniland on Twitter

By Cate Long
June 27, 2014

Here are the best tweets with the #muniland hashtag for June 27, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comments
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Phew! So close… :)

PRASA Says It Doesn’t Plan to Restructure
by Robert Slavin
JUN 27, 2014

Puerto Rico Aqueduct and Sewer Authority said it doesn’t anticipate restructuring its debt under a planned restructuring law for the commonwealth’s public corporations.

Posted by BBrite | Report as abusive
 

This is a ripoff. They sold massive amounts of PREPA on Aug. 21, 2013 (http://emma.msrb.org/SecurityDetails/Tr adeActivity/74526QA85). And analysts declared “positive” with a big smiling picture of Puerto Rico Governor here (http://www.bondbuyer.com/issues/123_3/a nalysts-positive-on-puerto-rico-governor s-first-year-1058674-1.html). To add insult to injury, Oppenheimer senior portfolio manager Troy Willis echoed, “From a bond-holder perspective, he’s done a great job.” I feel sorry for retail investors who were conned to pay over 100 for this junk (again see http://emma.msrb.org/SecurityDetails/Tra deActivity/74526QA85)

Now, I firmly believe PRASA will be safe… :) They never hyped or added to their debt since their rating dropped to junk. And that’s been quite a while.

Posted by BBrite | Report as abusive
 

Doh! But the good news is that it is ONLY on watch NOT an actual downgrade… :)

PRASA on S&P CreditWatch Negative
JUN 30, 2014 11:25am ET

Standard & Poor’s Ratings Services said it placed its BB-plus ratings on Puerto Rico Aqueduct & Sewer Authority’s (PRASA) revenue bonds, guaranteed by the commonwealth of Puerto Rico, on CreditWatch with negative implications. “The CreditWatch placement reflects our similar action on the general obligation (GO) debt rating the commonwealth on…

Posted by BBrite | Report as abusive
 

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