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The Tax Man and Urban Flight: Fact and Fiction of Outmigration Trends
Are Municipal Defaults on the Horizon? Probably Not
Proposal for State Bankruptcies Unlikely to Succeed
Making Sense of the Move in Munis
What Does the Puerto Rico HTA Ruling Mean for Special Revenue Bonds? Likely Not as Much as Feared
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What Does the Puerto Rico HTA Ruling Mean for Special Revenue Bonds? Likely Not as Much as Feared

What Does the Puerto Rico HTA Ruling Mean for Special Revenue Bonds? Likely Not as Much as Feared

Municipal bond investors worried by the 1st U.S. Circuit Court of Appeals’ affirmation of a lower court’s decision regarding the Puerto Rico Highway Transportation Authority should rest a bit easier: The ramifications will likely be limited.

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Sean McCarthy

Head of Municipal Credit Research


Mr. McCarthy is an executive vice president and head of the municipal credit research team in the New York office. Previously, he was a corporate credit analyst for the firm. Prior to joining PIMCO in 2009, he was a consultant to the firm. He was previously a senior vice president in the fixed income syndicate at Lehman Brothers, a vice president in Lehman Brothers' securitized products business and a research analyst with Duff & Phelps and Fitch IBCA. He has 22 years of investment experience and holds an undergraduate degree from James Madison University.

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