TITLE

First Rehab, Then Refund

AUTHOR(S)
Saskal, Rich
PUB. DATE
March 2005
SOURCE
Bond Buyer;3/18/2005, Vol. 351 Issue 32093, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that Orange County, California, has largely rehabilitated its financial reputation, officials there are looking forward to the chance to refinance the bankruptcy recovery bonds it sold as a distressed issuer after its 1994 bankruptcy. Orange County filed for Chapter 9 bankruptcy in December 1994 after its investment pool recorded $1.6 billion in losses when rising interest rates unraveled the investment strategy of then-treasurer Robert Citron, who had pursued high yields with leveraged interest rate bets.
ACCESSION #
16487998

 

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