Municipal Bond Forum
Assured Guaranty another ray of hope for Puerto Rico bonds?
Q
Great article on Puerto Rico, “Puerto Rico Governor Unveils New Budget Plan.” But why did you refer in the last sentence to the governor’s plan as perhaps providing “a ray of hope”? I thought the upgrade earlier this year of Assured Guaranty, which insures some Puerto Rico bonds, was already “a ray of hope”?
A
James A. Klotz responds:
We agree with your thoughts regarding Assured Guaranty. However, the majority of Puerto Rico debt is not insured.
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