CUSIP 745211LA8
- ISIN: US745211LA83
- Entity Name: Puerto Rico Industrial Development Corporation
- Sector: Municipal Agency
- Announcement Date: 01-Feb-2018
- Effective Date: 01-Feb-2018
- Issue Date: *****
- Maturity Date: 01-Jul-2021
- Country of Issuer: Puerto Rico
- Region: Caribbean
- Issue Currency: United States of America Dollars
- CA Type: Coupon Default
- News: U.S. Bank Trust National Association (U.S. Bank) serves as Trustee for holders of the abovereferenced Bonds pursuant to the Trust Indenture dated as of July 1, 1964 (as amended, the Trust Indenture). U.S. Bank previously informed Bondholders that PRIDCO has failed to fund the relevant payments due on the Bonds since August 1, 2016. Since then, the Trustee had paid the debt service due on the Bonds solely out of funds on hand from the Bond Service Account and the Reserve Account, through September 2017. PRIDCO has failed to fund the payments due on the Series 2003 Bonds on February 1, 2018. The Trustee continues to believe it is prudent to preserve the remaining funds in the Reserve Account pending clarification of PRIDCOs intentions with respect to treatment of its bond obligations.
- Description: Municipal Name: Puerto Rico Industrial Development Corporation CUSIP: 745211LA8 Currency: USD Puerto Rico Industrial Development Corporation announced today that it has not been paid the interest payment due to insufficient money on Revenue Fund for Series 1997A, General Purpose Revenue and Refunding Revenue Bonds on February 1, 2018.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US745211LA83
