The defaulted bonds of the utility system were issued from 1977 to 1981 to finance the construction of two nuclear power plants.

But so far, the pickings among defaulted bonds have been poor.

He blamed "the huge increase in the supply" of defaulted bonds for the fall.

The best performer among defaulted bonds in October, Merrill says, gained 63 percent.

Mr. Putnam's handsome gains in the last year were helped by the overall robust performance of defaulted bonds.

The defendant, Central Bank, had been the trustee for $26 million in defaulted bonds issued by a local public building authority.

Profits are accumulating for investors in defaulted bonds as the prices of such securities are rapidly bid up.

Given that defaulted bonds pay no interest, often for prolonged periods, buyers are betting on price increases during the restructuring periods.

He would not discuss how much of the defaulted bond payments were unpaid.

Argentine debt restructuring offers in 2005 and 2010 resumed payments on the majority of its almost $100 billion in defaulted bonds from 2001.