Updated July 29 at 1:29pm

Enter your email to receive Providence Business News' e-newsletters
and breaking news alerts.  

38 studios

Bond rating unaffected by 38 Studios loan debate, says S&P

Posted:

REUTERS — Standard & Poor’s Rating Services announced Thursday that R.I. Economic Development Corporation revenue bonds issued for 38 Studios LLC, former Red Sox pitcher Curt Schilling’s failed videogame company, will not be affected by the state’s decision to openly consider defaulting on the bonds, reported Reuters.

The R.I. House representatives introduced legislation in March to lead the state in defaulting on the bonds.

Debate has taken place during recent budget negotiations over whether the state should skip an interest payment on the debt due next year, said Reuters.

Standards & Poor’s expects a stable outlook for the revenue bonds despite recent legislation and discussion of defaulting on the bonds, according to Reuters.

The bonds currently retain an “A” rating. The rating agency also said in prepared remarks that it maintains a stable outlook for Rhode Island’s general obligation and appropriation debt “AA” rating.

reuters, bonds, 38 studios, S&P

Comments

No comments on this story | Please log in to comment by clicking here
Please log in or register to add your comment
Latest News