Wednesday, May 04, 2011

Waterbonded

So yet again the PWSA is in the news for more bonds gone bad. I would have thought this was in connection to this bond, but it seems to be outside the range of dates referenced.  At least in this case someone is taking litigation to the issuers which may get them some $$ back.

Of more immediate concern, last I checked the PWSA's variable rate bond imbroglio had a crucial letter of credit that expires this year.  I'm not sure I've seen any news on that so I can't quite say this is still an issue.  Anyone checking into what the status is with that?

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