|Day's Range||10.04 - 10.35|
|52 Week Range||7.15 - 11.65|
|PE Ratio (TTM)||-4.04|
|Earnings Date||Aug 8, 2017|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||11.83|
National Public Finance Guarantee Corporation , an indirect subsidiary of MBIA Inc. , today announced that National, along with the Ad Hoc Group of PREPA bondholders, Assured Guaranty Corp., Assured Guaranty Municipal Corp.
Even as Puerto Rico’s restructuring process devolves into more lawsuits, defaults, and downgrades, some ripple effects are creating surprising opportunities for investors.
Puerto Rico entered its own form of bankruptcy in early May, and the financial crisis there is still getting worse. Consider what’s going on with MBIA (MBI), the parent of bond insurer National, which insures about $4 billion in par value of Puerto Rico bonds. On Tuesday, management told investors to expect shareholder-friendly moves, such as more stock buybacks and perhaps a special dividend—even as it had to increase accounting for losses related to Puerto Rico.