This piece first published February 29, 2016, Debtwire Municipals
The City of Scranton is closer to issuing its first new bond debt since the default of Scranton Parking Authority bonds in 2012, three sources familiar tell Debtwire Municipals.
The city and unions reached a tentative agreement over a judgment owed to city workers for back pay last week, which paves the way for the city to issue about USD 35m in debt to repay that judgment.
This piece first published February 25, 2016, Debtwire Municipals
The State of New Jersey has many solutions available for Atlantic City’s financial problems, including a short-term state loan or a state backstop to new debt, according to a memo from the Office of Legislative Services (OLS) seen by Debtwire Municipals.
This piece first published February 4, 2016, Debtwire Municipals
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Targeting bondholders and bankruptcy are not sensible solutions for Atlantic City, former Emergency Manager Kevin Lavin said in an interview with Debtwire Municipals.
Lavin served for a year as Atlantic City’s emergency manager and left the position last month to begin at Ankura Consulting Group, a business advisory and expert services firm. He left the door open to further work with municipalities, a sector that has a “very big need,” he said.