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The Bond Buyer

Virgin Island bonds stir concern

U.S. Virgin Island bonds have plunged since Hurricane Maria amid deepening concern over the territory's ability to make payments due in the coming year.

Prices of the Series 2014C U.S. Virgin Islands gross receipts tax bond in the secondary market have declined by 40%, according to Markit. The bonds are trading at about 44 cents on the dollar, down from about 74 cents in mid-September.

Tim Holler