: Sweet Briar bonds maturing in 2030 and issued by the Amherst Industrial Development Authority in Virginia traded Monday at an average of 81 cents on the dollar, down from 94 cents a month ago and the lowest since 2009, according to data compiled by Bloomberg, according to Bloomberg. The debt changed hands 11 times, the most since 2007.A Virginia circuit court judge approved a plan Monday to avoid closing the college, which opened in 1906 in Sweet Briar, about 55 miles southwest of Charlottesville. Meanwhile, the market for its debt shows investors are more pessimistic about getting their money back. It calls for the state attorney general to free up $16 million from the school $85 million endowment for a year worth of operating expenses. You have uncertainty over what going to take place in the next year when they’re open, said John Bonnell, who helps oversee $18 billion of munis at USAA Investments in San Antonio. Now investors’ eyes turn to whether the institution can lure enough students and cash to stay afloat.
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