Insurance companies that guarantee a Puerto Rico agency’s bonds are covering some payments that the island’s government defaulted on this month.
Ambac Financial Group Inc. paid $10.3 million in interest that was due Monday on Puerto Rico Infrastructure Financing Authority debt, Abbe Goldstein, a spokeswoman for the bond insurer, said in an e-mail Tuesday. Financial Guaranty Insurance Co. will pay 22 percent of $6.4 million in interest it insures, Edward Turi, a spokesman for FGIC, said in a phone call Tuesday. Standard & Poor’s cut Prifa, as the authority is known, to D because of the payment default.
