AGO - Assured Guaranty MBIA shares jump on Puerto Rico debt agreement

Assured Guaranty ([[AGO]] +6.6%) and MBIA ([[MBI]] +7.7%) climb after the Financial Oversight and Management Board for Puerto Rico comes to an agreement with certain bondholders in a step to resolve $35B of debt and non-debt claims.AGO agrees to conditionally support the revised Puerto Rico GO and Public Buildings Authority Plan Support Agreement  with the Financial Oversight and Management Board and other creditors of Puerto Rico and the PBA, the company said in a statement.It "conditionally supports this agreement with the express understanding that the government parties will work with Assured Guaranty to make the agreement part of such a comprehensive solution."Also AGO said it will work toward a comprehensive resolution of any remaining issues with the GO and PBA bonds, along with other Puerto Rico credits, such as the Highway and Transportation Authority bonds, Convention Center District Authority bonds, an others.The new debt agreement:  Reduces $18.8B of debt held by GO

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Assured Guaranty, MBIA shares jump on Puerto Rico debt agreement