TITLE

Expensive Legacies

AUTHOR(S)
Sigo, Shelly
PUB. DATE
February 2006
SOURCE
Bond Buyer;2/2/2006, Vol. 355 Issue 32311, p27
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the expenses incurred by the insurer on high-interest bonds sold by predecessors and assumed by Citizens Property Insurance Corp. in Florida. The interest expense paid on the bonds sold by the entities has significantly exceeded the amounts earned on the proceeds. The interest rate on these bonds is variable and tied to short-term rates.
ACCESSION #
19701331

 

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