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Doral Financial (DRL) in San Juan, Puerto Rico, has agreed to sell roughly $825 million of assets to Abbey Finance Holdings PR.
July 14
Doral Financial in San Juan, Puerto Rico, has sold more loans in a move that will deplete capital but bolster the company's liquidity.
The $7.8 billion-asset company
Doral said that sales "will adversely affect" its compliance with regulatory capital ratios at a time with the company is already considered "undercapitalized by regulators. Doral noted, however, that the transaction will improve its liquidity position and reduce expenses tied to managing nonperforming assets. Doral will continue to service the loans over an interim period.
Doral, which had