As on March 31, Assured Guaranty Ltd. (NYSE:AGO) and MBIA Inc. (NYSE:MBI) had $872 million and $1.531 billion of insured exposure respectively to debts owed by Puerto Rico Electric Power Authority (PREPA), an entity that is eligible to restructure under the Public Corporations Debt Enforcement and Recovery Act (“the Act”) enacted on June 28, 2014.
(Read Valuewalk’s article on Puerto Rico’s Public Corporations Debt Enforcement and Recovery Act here.)
AGO and MBI stocks pressured by losses on exposure to PREPA
The prospect of losses on exposure to PREPA has severely pressured stocks of both Assured Guaranty Ltd. (NYSE:AGO) and MBIA Inc. (NYSE:MBI) in recent weeks as seen in their charts below.
The Assured Guaranty Ltd.(NYSE:AGO) stock has lost...
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