Issuers' payments covered, but not trustees', insurers say

Cintron, Ivan
February 1999
Bond Buyer;02/24/99, Vol. 327 Issue 30585, p28
Trade Publication
Reports on the absence of adequate protections for investors who may encounter year 2000 (Y2K) glitches with a bond issue's paying agent or trustee. Bond insurance companies that are working to ensure that trustees and issuers are Y2K-compliant; Potential embarrassment of trustees being unable to pay bondholders; Factors that can guarantee that trustees will be Y2K-compliant.


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