TITLE

Dexia Leans on Louisiana Port Over $20M in Outstanding Debt

AUTHOR(S)
DeSue, Tedra
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/17/2003, Vol. 344 Issue 31617, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Questionable accounting maneuvers by former administrators at the Port of Lake Charles in Louisiana have landed the port in crisis with Dexia Credit Local, which provides an irrevocable letter of credit on about 20 million dollars of debt issued for the port in 1994. the bank sent a scathing letter to the officials of issuer Lake Charles Harbor & Terminal District, which operates the port, demanding the debt be paid in full if officials did not immediately address concerns about the port's fiscal health.
ACCESSION #
9766462

 

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