Latest News on Municipal Bonds

Detroit To Stop Payments On Certain Muni Debt
Barron's (blog)
Detroit, in the middle of a painful, protracted effort to avoid insolvency, is eyeing a restructuring plan that could force losses on some unsecured lenders and suspend payments on certain municipal debt. Matthew Dolan reports Friday in the Wall Street ...

Detroit to default on $2.5B debt to avoid bankruptcy, emergency manager says
Fox News
Detroit said Friday it would stop making payments on about $2.5 billion in unsecured debt and ask creditors to take about 10 cents on the dollar of what the city owes them in a move to avoid what bankruptcy experts have said would be the largest ...

Painful Options Ahead: Detroit to Default on $2.5 Billion Debt
PBS
During the meeting, Orr said the city would stop payments on its unsecured debt to bondholders, cut health care and pension benefits to current and retired city workers, give an independent authority control over the water and sewerage. The changes ...

The Guardian
Detroit to stop paying some debt, putting it in default
Chicago Tribune
A trustee for the bond issue will have to certify that Detroit failed to make the payment on Friday, which would trigger a formal default. Detroit's crisis is being closely watched by U.S. debt markets. It did not immediately affect the $3.7 trillion U ...
Detroit Recovery Plan Threatens Muni-Market UnderpinningsBloomberg
'Insolvent' Detroit to default on some of $18.5bn debt, says emergency managerThe Guardian
Detroit To Stop Payments On Certain Muni DebtBarron's (blog)
RT -PBS NewsHour -Financial Times
all 254 news articles »

Toledo Blade
Detroit to stop paying some debt, putting it in default
Chicago Tribune
... it would stop making payments on some of its about $18.5 billion debt, which would put it in default, and the "insolvent" city called on most of its creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy filing ...
Detroit Restructuring Plan Includes Bond DefaultBond Buyer
Detroit To Stop Payments On Certain Muni DebtBarron's (blog)
Detroit restructuring plan halts a debt paymentMarketWatch (blog)
Huffington Post -Toledo Blade
all 178 news articles »

The Guardian
Detroit Restructuring Plan Includes Bond Default
Bond Buyer
CHICAGO - Detroit's announcement Friday that it will default on some of its bonds, including a $39.7 million pension certificate payment due Friday, could have major repercussions for the municipal market, analysts and bond attorneys said. The ...
Detroit restructuring plan halts a debt paymentMarketWatch
Detroit to stop paying some debt, putting it in defaultChicago Tribune
'Insolvent' Detroit to default on some of $18.5bn debt, says emergency managerThe Guardian
Barron's (blog) -RT -Financial Times
all 254 news articles »

Bloomberg
S&P cuts Detroit bond ratings on expected default
Reuters
... default," the credit rating agency said in a statement. S&P, which just downgraded Detroit's ratings on Wednesday, also kept a negative outlook on the CC rating for the city's general obligation and pension debt due to the potential of a Chapter 9 ...
Detroit To Stop Payments On Certain Muni DebtBarron's (blog)
Detroit restructuring plan halts a debt paymentMarketWatch (blog)
Detroit defaults on some debt to avoid bankruptcy filingReuters India
Bloomberg -Wall Street Journal
all 167 news articles »

Detroit defaults on some debt to avoid bankruptcy filing
Thomson Reuters News & Insight
A trustee for the bond issue will have to certify that Detroit failed to make the payment on Friday, which would trigger a formal default. Detroit's crisis is being closely watched by U.S. debt markets. It did not immediately affect the $3.7 trillion U ...

Detroit restructuring plan halts a debt payment
MarketWatch
Detroit is trying to avert a municipal bankruptcy filing by gaining concessions from creditors. (This item is updated to reflect the fact that a halted payment may not technically be a default. Fitch Ratings has since said nonpayment would be ...

US bank capital takes a beating in selloff
Reuters
U.S. corporate bond price quotations... U.S. credit default swap column........ U.S. credit default swap news.......... European corporate bond market report.. European corporate bond market report.. Credit default swap guide.............. Fixed income ...

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Hundreds facing financial losses from MN muni-broadband network
Kansas Watchdog
The high-tech default has cost the McKenzies $5,800 in two missed interest payments to date, as well as most of his initial investment. The experience has shaken his confidence in the municipal bond market. “When a consumer like me invests in municipal ...

Google News

International Business Times
Detroit defaults on some debt to avoid bankruptcy filing
Reuters
DETROIT (Reuters) - Detroit defaulted on some debt on Friday and proposed that creditors take a drastic cut in the money they are owed by the "insolvent" city in order to avoid the largest municipal bankruptcy filing in U.S. history. In a meeting with ...
Detroit restructuring plan halts a debt paymentMarketWatch (blog)
Last-ditch talks to avert Detroit bankruptcyFinancial Times
Detroit on Brink of Bankruptcy Suspends Some Debt PaymentsBusinessweek
Wall Street Journal -Fox Business
all 132 news articles »

Detroit to default on unsecured municipal bond debt: report
MarketWatch
Markets Stream gives you a single place to follow the best of MarketWatch and other news coverage in real time. It's all here in a blend of news, commentary and video, plus hot tidbits we see elsewhere on the web and on social networks. Here's how it ...

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MLive.com
Detroit to default on unsecured bond debt: report
MarketWatch
Detroit to default on unsecured bond debt: report. 0 Comments. Tweet. new. Portfolio Relevance. LEARN MORE ... NEW YORK (MarketWatch) -- The financially troubled city of Detroit will stop making payments on a portion of its unsecured bond debt Friday ...
Detroit Looks to Pay Less to BondholdersWall Street Journal
Susan Tompor: Insurers, not mutual funds, would take the hit if Detroit debt ...Detroit Free Press
S&P cuts Detroit rating to CCC- as city strives to avoid bankruptcyIT Business Net

all 89 news articles »

Yahoo! News
Detroit defaults on some debt to avoid bankruptcy filing
Yahoo! News
DETROIT (Reuters) - Detroit defaulted on some debt on Friday and proposed that creditors take a drastic cut in the money they are owed by the "insolvent" city in order to avoid the largest municipal bankruptcy filing in U.S. history. In a meeting with ...

Oversold Yields: Is This The Best Investment Opportunity In Years?
Seeking Alpha
Municipal bonds or muni bonds are issued by states and local governments, offer coupon payments that are federally tax free (and sometimes state and local tax free depending on the bond and where you live), and have very low default rates. In order to ...

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Moody's cuts Detroit bond ratings on bankruptcy risk
Thomson Reuters News & Insight
"Should default or bankruptcy occur, the recovery levels for bondholders could potentially be quite low based on recent municipal recovery rates for other distressed local governments," Moody's said in a statement. The credit rating agency downgraded ...
Closed-End Funds and ETFs Face Detroit Bankruptcy Risks After Downgrade ...24/7 Wall St.
Moody's downgrades Detroit's GOULT bonds to Caa2 and GOLT and COPs to ...Moodys.com (press release) (registration)

all 11 news articles »

Database: Which muni bond funds hold Detroit bonds?
Detroit Free Press
But many municipal bond funds are diversified and hold bonds from various communities. Many bond fund experts have been well aware of Detroit's financial troubles for quite some time, and some have said they expect Detroit to default on some ...

UPDATE 1-Moody's cuts Detroit bond ratings on bankruptcy risk
Reuters
"Should default or bankruptcy occur, the recovery levels for bondholders could potentially be quite low based on recent municipal recovery rates for other distressed local governments," Moody's said in a statement. The credit rating agency downgraded ...
Moody's cuts Detroit bond ratings on bankruptcy riskChicago Tribune

all 4 news articles »Google News

Database: Which muni bond funds hold Detroit bonds?
Detroit Free Press
But many municipal bond funds are diversified and hold bonds from various communities. Many bond fund experts have been well aware of Detroit's financial troubles for quite some time, and some have said they expect Detroit to default on some ...