Pago Pago, AMERICAN SAMOA — Based on advise from consultants, American Samoa Economic Development Authority (ASEDA) board of directors has opted not to move forward with the proposed general refunding bond 2020 series. In the meantime, the board has updated investors on the latest development at StarKist, which is moving to hire more workers. As previously reported by Samoa News, the ASEDA board was working on refinancing its current bonds at a lower interest rate— taking advantage of the bond market at this time, with a bond rating presentation with Moody's investment firm set for May 20th. (See Samoa News edition May 11th for details.) Responding to Samoa News inquiries for updates, ASEDA board member, Iulogologo Joseph Pereira said yesterday that Moody's rating presentation "was suspended as we decided, based on our consultants' advice, not to move forward with the refinancing proposal as the market had turned against and not in our favor.