Assured CEO Says Puerto Rico Bankruptcy Bill Is Wrong Plan
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Investors in Puerto Rico’s public agencies could feel like victims of a “bait and switch” if the corporations were permitted to file for bankruptcy, Assured Guaranty Ltd. Chief Executive Officer Dominic Frederico said.
U.S. Congress should carefully consider the consequences of a bill, introduced by Pedro Pierluisi, Puerto Rico’s nonvoting congressional delegate, that would allow such a move, Frederico, said on a call today with analysts. Assured guarantees bonds of the junk-rated Caribbean commonwealth.