Muni360 LLC

http://muni360.com/puerto-rico-not-getting-u-s-help-white-house-says/

Puerto Rico Not Getting U.S. Help, White House Says The White House threw cold water Monday on the notion of bailing out Puerto Rico from its financial crisis, instead urging Congress to consider changing the law so the island can declare bankruptcy.

http://muni360.com/junk-bond-status/

Chicago Paying The Price For Junk Bond Status On May 12, Moody’s downgraded the city’s general obligation bonds to junk bond status

http://muni360.com/major-puerto-rico-investor-warns-it-stands-ready-to-defend-bonds/

U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments.

Major Puerto Rico investor warns it stands ready to defend bonds Puerto Rico investor OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments.

http://muni360.com/the-next-greece-may-be-in-the-u-s/

When Chicago Public Schools announced on June 24 that it would borrow $1 billion to make a $600 million-plus pension payment due June 30, an eerie feeling spread across bond investors and taxpayers alike.

It was the same feeling that gripped investors when Moody’s Investors Service downgraded Chicago’s credit rating to junk based almost entirely on the city’s pension problems.

The next Greece may be in the U.S. In the U.S. bankruptcies of Detroit, Vallejo, Stockton and San Bernardino, bondholders have faced losses of up to 99% of their holdings, according to a Moody’s report dated May 18. Meanwhile all three California cities chose to preserve full pensions for their employees, while Detroit only cut pensi…

http://muni360.com/puerto-ricos-deepening-crisis-threatens-high-yield-u-s-funds/

Puerto Rico’s deepening financial crisis could speed up an exodus of money from U.S. municipal bond funds that have placed big bets on the cash-strapped Caribbean island.

Puerto Rico's deepening crisis threatens high-yield U.S. funds Before this week's crisis, veteran Eaton Vance bond fund manager Tom Metzold said Puerto Rico's problems could trigger a domino effect, partly from portfolio managers selling assets to meet investor redemption demands.