EMTA SPECIAL SEMINAR:
PUERTO RICO: SCENARIOS FOR 2015
Friday, December 12, 2014
EMTA
360 Madison Avenue, 17th Floor
(on 45th St. between Madison and 5th Aves.)
New York City
The authorities in Puerto Rico have faced
a daunting task in order to stabilize the Commonwealth's creditworthiness:
balance the government budget, improve the public sector's liquidity position,
and get the island's economy growing again.
The panel will discuss the extent of progress to date in these
areas. What impact are these policy changes
having on the economy’s fundamentals, and is the economy starting to recover?
What additional policy changes should be
considered? Are concerns about the
Commonwealth’s cash-flow and solvency situation being ameliorated? Is the ring-fencing strategy a correct one,
and can the Commonwealth expect to pay off this debt? How likely is a default or preemptive
restructuring during 2015? On the other
hand, how likely is a significant rally in central government and development
bank bonds? Is adequate information on
the fiscal situation, debt and the economy available on a timely basis to
evaluate Puerto Rico government risk?
How is Puerto Rico risk priced relative to other below-investment-grade
sovereigns?
What are the prospects for a default-free
restructuring of state-owned agencies? What
are the wider implications of the ongoing Doral Financial litigation? What interventions might the federal
government consider to help Puerto Rico?
This timely EMTA Special Seminar will
provide an update of the situation and a discussion of economic and financial
scenarios for Puerto Rico in 2015.
11:45 a.m. Registration
12:00 noon – 2:00 p.m. Panel Discussion
Charles Blitzer (Blitzer Consulting) – Moderator
Joseph Rosenblum (AllianceBernstein)
Arturo Porzecanski (American University)
Aaron Stern (Fir Tree Partners)
Matthew McGill (Gibson, Dunn & Crutcher)
David Hitchcock (Standard & Poors)
Lunch will be provided
Support provided by Standard and Poors
For recent articles on Puerto Rico, Click Here.
Registration fee for
EMTA Members US$95 / US$695 for non-members / Credentialed Media Complimentary.
Individuals who wish
to dial-in should register then contact Suzette Ortiz (sortiz@emta.org).
REGISTRATION FOR THIS EVENT IS NOW CLOSED. WE LOOK FORWARD TO SEEING YOU AT A FUTURE EMTA EVENT.