R.I. setting standard for bondholders’ love

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THE FINANCIAL and political support from state officials shown to Central Falls is unique among the municipal bankruptcies seen this year across the U.S. from Alabama to California. / COURTESY THE BLACKSTONE VALLEY TOURISM COUNCIL
THE FINANCIAL and political support from state officials shown to Central Falls is unique among the municipal bankruptcies seen this year across the U.S. from Alabama to California. / COURTESY THE BLACKSTONE VALLEY TOURISM COUNCIL
BOSTON - Central Falls, the first city in Rhode Island’s 222-year history to go bankrupt, is preparing to exit court protection after 13 months by keeping bondholders whole while raising taxes and cutting workers and pensions. The financial and political support Central Falls got from state officials makes the case unique among municipal bankruptcies in…

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