MAGNY

Monthly Luncheon & Discussion

Friday, May 17, 2019

Puerto Rico's Debt Restructuring and Its Implications for the Muni Market

Date: Friday, May 17, 2019

Time: 11:30 am - 2:00 pm

Location: Yale Club, 50 Vanderbilt Avenue, NYC

Moderator: Leonard Jones, Moody's Investors Service - Biography

Speakers: 

James E. Spiotto, Managing Director, Chapman Strategic Advisors LLC - Biography

Arturo C. Porzecanski, Ph.D., Distinguished Economist in Residence, International Economic Relations Program, School of International Service, American University - Biography

Howard Sitzer, Senior Municipals Analyst, CreditSights - Biography

Details:

Puerto Rico’s restructuring is by far the largest municipal default and debt restructuring in US history.  Many believe that the steps taken during the course of the island’s restructuring are setting consequential precedents for future municipal bankruptcies and restructurings.  

MAGNY's Puerto Rico luncheon will provide analysis and discussion of the latest developments in Puerto Rico’s workout including: the overall restructuring process, the status of the PROMESA Board after a recent ruling on the formation of PROMESA; and recent court rulings on special revenue designations that will help to dictate how the restructuring proceeds. Our panelists will also address the questions of how the economy of Puerto Rico can -- after decades of decline and clear vulnerability to ESG issues -- right size itself in a more resilient manner, what role the Federal government will likely take in helping Puerto Rico recover (or not), and if Puerto Rico will be able to re-gain access the traditional US municipal debt market in the future.      

Our panel of guest experts will include James E. Spiotto, Managing Director, Chapman Strategic Advisors LLCs, Arturo C. Porzecanski, Ph.D., Distinguished Economist in Residence at American University; and Howard Sitzer, Senior Municipals Analyst for CreditSights in New York.

Cost: $75 for members, $85 for non-members.

Registration: Registration is now closed.