Trump Makes Gauging Puerto Rico Bondholder Losses Harder

10/05/2017 | Bloomberg
Hernando Montero of Stoever Glass is quoted on what bondholders should expect after Hurricane Maria and how recovery rates will rely on new, unanticipated factors.

The Fiscal Oversight Board requests action by Congress

10/04/2017 | El Nuevo Día
Hernando Montero, Director of Credit Analysis at Stoever Glass, quoted on what to expect from President Trump’s visit to Puerto Rico. Trump left the island without making a concrete commitment to help recovery efforts, while Oversight Board sought action from Congress.

Puerto Rico's Economy Was a Mess Before Hurricane Maria, It Will Only Make Recovery Harder

09/22/2017 | Fortune Magazine
Hernando Montero, Director of Credit Analysis at Stoever Glass, is quoted on funding recovery efforts for Puerto Rico after Hurricane Maria.

Hernando Montero's Palm Beach Post Weekly Column: Virgin Islands Cuts Ties With Rating Agencies

09/18/2017 | For years, investor demand drove the sale of Virgin Islands’ (USVI) triple tax-exempt debt. Bond issues typically finance infrastructure and capital projects.

Hartford, Conn., Gets 2-Notch Downgrade from Moody's to Caa1

09/12/2017 | The Bond Buyer
Hernando Montero Salazar, Stoever Glass Director of Credit Analysis, quoted on City of Hartford's rating downgrade to deep junk-bond status.

Hernando Montero's Palm Beach Post Weekly Column: Bond Ratings: An Overview

09/11/2017 | Bond ratings try to predict if bonds will be repaid principal and interest on the promised date for your bond. Municipal bonds are like certificates of deposits, which promise interest and principal on specified dates.

Hernando Montero's Palm Beach Post Weekly Column: Safety In Bonds: A Comparison

09/04/2017 | Municipal bonds have been called "the second safest investment" after U.S. Treasury bonds.

Hernando Montero's Palm Beach Post Weekly Column: Puerto Rico Debt Crisis: Reset

08/28/2017 | On May 3, the Commonwealth of Puerto Rico filed for a record-setting bankruptcy in an effort to reduce $74 billion in bondholder debt and $49 billion in pension obligations to government employees after years of economic decline and debt financing.

Hernando Montero's Palm Beach Post Weekly Column: Challenges Facing U.S. Nuclear Power

08/21/2017 | South Carolina Public Service Authority (Santee Cooper) and South Carolina Electric & Gas (SCE&G) parent SCANA have suspended construction on two nuclear reactors at South Carolina’s V.C. Summer Nuclear Station.

Hernando Montero's Palm Beach Post Weekly Column: State’s Fiscal Health: Insights from Key Measures

08/14/2017 | The Pew Charitable Trusts released its Fiscal 50: State Trends and Analysis, which provides a comprehensive look at five core areas that are essential to states’ fiscal health: revenue, spending, economic, demographic, long-term costs, and fiscal policy trends.

Hernando Montero's Palm Beach Post Weekly Column: Assessing the Types of Municipal Bonds

08/07/2017 | There are $3.7 trillion of outstanding municipal bonds, with hundreds of millions more issued each year. Munis have been termed “the second safest investment after U.S. Treasury debt”.

Hernando Montero's Palm Beach Post Weekly Column: Hartford Update: Debt Restructure?

07/31/2017 | While Hartford, the capital of Connecticut, benefits from its position as a regional economic and employment center, tax base growth remains stagnant.

Hernando Montero's Palm Beach Post Weekly Column: Another U.S. Territory Experiencing Financial Challenges

07/24/2017 | U.S. Virgin Islands (USVI) is an organized, unincorporated territory of the United States of America. It has responsibility for public safety, health, public housing and welfare, education, transportation and communication, and culture and recreation.

Hernando Montero's Palm Beach Post Weekly Column: Illinois May Become First Junk-Rated U.S. State

07/10/2017 | Illinois lawmakers have overturned Governor Bruce Rauner’s veto of a budget bill, ending a political standoff and enacting the state’s first budget since 2015.

Hernando Montero's Palm Beach Post Weekly Column: Land-Secured Bonds Primer

07/03/2017 | Land-secured municipal bonds raise capital to finance public infrastructure projects including roads, streets, sidewalks, traffic lights, water and sewer lines and other essential components of real estate development.

Hernando Montero's Palm Beach Post Weekly Column: Public Pension Funding: More Critical Than Ever

06/26/2017 | The U.S. Census Bureau has released its 2016 Annual Survey of Public Pensions, which provides a comprehensive look at the financial activity of the nation’s state- and locally-administered defined benefit pension systems, including cash and investment holdings, receipts, payments, pension obligations and membership information.

Illinois Lawmakers Return for Last Gasp Budget Session

06/21/2017 | The Bond Buyer
Hernando Montero, Director of Credit Analysis at Stoever Glass, is quoted on market sentiment as Illinois tries to end a two-year-old budget stalemate.

Hernando Montero's Palm Beach Post Weekly Column: Green Bonds Primer

06/19/2017 | Green Bonds are fixed-income securities, both taxable and tax-exempt, that raise capital for use in financing or refinancing projects and activities with specific climate or environmentally sustainable purposes.

Roland Stoever: Palm Beach Post Article: The Dis-United States of America?

06/05/2017 | State general obligation bonds offer the safest returns in the municipal bond industry. Statistically, the U.S. is in its eighth year of economic recovery.

Hernando Montero's Palm Beach Post Weekly Column: Illinois Budget Delay is Credit Negative for Local Governments

06/12/2017 | On May 31, the Illinois General Assembly ended without an annual budget for the third straight year.

Hernando Montero's Palm Beach Post Weekly Column: Tax Reform Not A Threat to Municipals

05/29/17 | In the weeks following Donald Trump’s election, equity markets, together with interest rates, increased in anticipation of economic growth spurred by corporate tax cuts and a more business-friendly regulatory environment.

Hernendo Montero's Palm Beach Post Weekly Column: Hartford, CT Crisis

05/22/2017 | On May 10, 2017, Hartford, Connecticut took a step toward bankruptcy by soliciting proposals from law firms that specialize in municipal restructuring and Chapter 9 bankruptcy, which protect financially strapped municipalities.

Hernando Montero's Palm Beach Post Weekly Column: Commonwealth of Puerto Rico: Debt Crisis Update

05/15/2017 | On May 3, 2017, the Financial Oversight and Management Board for Puerto Rico filed a Title III Petition for relief under Section 304(a) of the Puerto Rico Oversight, Management, and Economic Stability Act of 2016 (“PROMESA”) with United States District Court for the District of Puerto Rico.

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