Assured Guaranty (AGO) Declares $0.1425 Quarterly Dividend; 1.5% Yield
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Puerto Rico sued by spate of creditors, in latest blow to teetering island
May 2, 2017 2:05 AM EDTBy Nick Brown
NEW YORK (Reuters) - Puerto Rico and its federal financial oversight board faced a handful of lawsuits from stakeholders on Tuesday, which could ultimately push the ailing U.S. territory into bankruptcy, and more are expected in the coming days.
The lawsuits, filed just hours after the expiration of a freeze on creditor litigation, include complaints from holders of Puerto Rican sales-tax-backed debt, from general obligation bondholders and from bond insurer Ambac Assurance Corp.
Holders of the sales-tax-backed debt, known as COFINA bondholders, in their lawsuit allege that the island's debt-cutting plans violate the U.S.... More
