Replies to post #3490 on Syncora Holdings Ltd. (fka SYCRF)

[DennyCrane550]

Flint, Mich is not in Syncora top exposures.

and seems relatively small credit...no clue if Syncora has any exposure

Earley said Flint’s budget deficit is about $12.9 million, and that the city will have to come up with $5 million this fiscal year unless most retirees begin paying more for health benefits and foot higher deductibles and co-pays.
While the bankruptcy risk remains until the case ultimately is settled, the city received a temporary reprieve last week, when a federal judge allowed it to implement cuts for the current fiscal year budget. While city officials expressed relief, “the real fundamental, underlying question about the ability of a municipality to alter retiree health care benefits has not been answered,” said Gerald Ambrose, Earley’s financial adviser.