Through National Public Finance GuaranteeNational Public Finance Guarantee is a wholly owned subsidiary of MBIA Inc. (NYSE: MBI) and independently capitalized with $3.7 billion in receivables as of September 30, 2019. This publication contains statements that are not historical or current and are “forward-looking statements” in accordance with the Safe Harbor Rules of the Private Securities Litigation Reform Act of 1995. The words “believe,” “anticipate,” “plan,” “wait,” “appreciate,” “intention,” “will likely result,” “look forward,” or “continue,” and similar expressions identify forward-looking statements. These statements are subject to certain risks and uncertainties that could result in actual results differing materially from historical returns and current expected or projected results, including the possibility of MBIA Inc. or National suffering increased losses or impairments on public funding commitments by governments, local and territorial authorities and financial authorities experiencing unprecedented tax stress; the possibility that estimates of the loss reserve may not be sufficient to cover potential claims; MBIA Inc. or National`s ability to fully implement its strategic plan; changes in general economic and competitive conditions. These factors, along with other factors that may affect financial performance or cause actual results to differ materially from the estimates contained in MBIA Inc.`s or National`s forward-looking statements, are described in the “Risk Factors” section of MBIA Inc.`s latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q , which can be updated or amended in subsequent notifications from MBIA Inc. to the Seitiescur and Exchange Commission. MBIA Inc. and National caution readers not to improperly rely on such forward-looking statements that speak only of their respective data.
National and MBIA Inc. undertake not to publicly correct or update any forward-looking statements if they subsequently discover that such a result is unlikely to be achieved. Under the plan proposed Friday, Puerto Rico bankruptcy judge Laura Taylor Swain will review the disclosure statement on June 3 and begin the process of reviewing the proposed adjustment plan later this month. The Puerto Rico Board of Directors presented a modified public debt adjustment plan and announced that 31% more bondholders will support the agreement. On February 9, 2020, the oversight committee announced that it had reached an agreement with some hedge funds on a proposed restructuring of the Commonwealth of Puerto Rico`s general bonds and certain other Commonwealth-guaranteed obligations (together the “GO Bonds”) that would be implemented through a PROMESA Title III adjustment plan. , PBA and ERS [Employe Retirement System] may be authorized, in exchange for the implementation of the Joinder contract or the Annex Agreement, the psa parties to receive a proportionate share of PSA`s restriction fee (as defined in the EPI) which cannot exceed a total of three hundred and fifty million dollars ($350,000,000.00).