Syncora Joins PREPA Restructuring Support Agreement
The closing of the restructuring contemplated by the RSA remains subject to a number of conditions, including approval of the RSA by the court presiding over PREPA’s Title III case. Although the effects of the PREPA RSA were largely reflected in the Company’s second quarter financial statements, as a result of entering into the RSA, SGI expects a further positive effect on its surplus and, if and when such closing occurs, SGI expects a positive effect on liquidity.
Important Information and Forward Looking Statements
This press release contains statements about future results, plans and events that may constitute "forward-looking" statements. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These risks and uncertainties include, but are not limited to, the factors described in the Company's historical filings with the NYDFS, and in the Company's and
Source: Syncora Holdings Ltd.