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Prospect News reports one new default for Jan. 1-Jan. 7, S&P three
By Caroline Salls
Pittsburgh, Jan. 9 – Prospect News reported one new default for the period of Jan. 1 through Jan. 7.
Specifically, Prospect News reported Lakeshore Villages Master Community Development District’s missed interest payment on its special assessment bonds, series 2007.
Also during the week, MirLand Development Corp. plc announced that it postponed to Feb. 1 the repayment of principal and interest due Dec. 31 on its series A and series B bonds.
Lakeshore Villages’ missed payment is the only default Prospect News has reported so far for 2015.
Meanwhile, Standard & Poor’s reported three global corporate defaults for the week.
Specifically, S&P lowered its long-term corporate credit rating on Kaisa Group Holdings Ltd. to SD from BB- following its default on its HK$400 million offshore term loan and lowered its corporate credit rating on OAS SA to D from CC after the company failed to make a principal and interest payment on its ninth debenture issuance.
The last default was confidential.
The ratings agency said the 2014 global corporate default tally finished at a total of 58 issuers, ending the year with 19 fewer defaults than in 2013.
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