Recent Stories From this Author
Transportation and Utilities Sectors Had Big Growth in First Half
August 22, 2016 The transportation and utilities sectors grew by $7.9 billion in the first half of 2016 from a year earlier.
Fitch Drops Virgin Islands Bonds to Junk
August 22, 2016 U.S. Virgin Islands’ bond ratings were cut to junk level by Fitch Ratings, which cited the territory’s unbalanced budget,...
Puerto Rico Gets Mixed July Employment Report
August 19, 2016 July employment statistics in Puerto Rico were mixed.
Puerto Rico Polls Favor Main Opposition Party
August 18, 2016 Puerto Rico's main opposition party leads in polls for November's election.
Puerto Rico Business Groups to Sue Against PREPA Deal
August 17, 2016 Puerto Rico business groups announced Wednesday that they would sue to block the Puerto Rico Electric Power Authority...
Puerto Rico's July Revenues Beat Forecast by 1%
August 16, 2016 Puerto Rico's July General Fund revenues came in 1% above the government's forecast for the month.
Virgin Islands Plans to Cut Capital Budget and thus Bond Sale
August 12, 2016 The U.S. Virgin Islands government plans to reduce the size of its capital spending budget by 30% to 40%, and with it the size...
Puerto Rico Comptroller Conducting 24 Corruption Investigations
August 12, 2016 Puerto Rico's Office of the Comptroller is conducting 24 investigations into government corruption on the island, the office...
Why the Municipal Pension Crisis Will Worsen
August 12, 2016 U.S. municipal pensions, weakened by decades of underfunding, now face a demographic double-whammy: people are living longer...
Puerto Rico Economy Shrunk 0.2% in June
August 11, 2016 Puerto Rico's economy shrank 0.2% in June compared to May, according to the commonwealth's economic activity index.
How PROMESA Breaks from Muni Traditions on Collective Action
August 9, 2016 Washington's Puerto Rico rescue legislation makes its biggest break from municipal finance tradition in a section dealing with...
Puerto Rico Paying Some Escrow Debt as Defaults Continue
August 3, 2016 Puerto Rico’s government is paying debt when the money has already been put in escrow accounts but is not paying other debt.
Puerto Rico's Fiscal Year Revenues Miss Budget by 6.4%
July 29, 2016 Puerto Rico's fiscal year 2016 revenues came in 6.4% short of its approved budget for the fiscal year.
Moody's Puts $18B on Review
July 29, 2016 Moody's Investors Service placed $18 billion of lease-backed, moral obligation and comparable debt on review.
Puerto Rico Governor Signs Budget and Debt Measures
July 27, 2016 Puerto Rico won't set aside money to pay general obligation debt and will set up an emergency spending fund, under bills...
Puerto Rico's Employment Picture Continues Improvement
July 22, 2016 Puerto Rico’s employment situation continued to improve in June, with total employment up 2% from a year earlier.
COFINA Holders Lawyer Talks about the Bonds' Present and Future
July 22, 2016 The lead attorney representing the interests of holders of COFINA senior bonds answered some questions about the bondholders’...
Assured Guaranty Sues Puerto Rico on Toll Diversion
July 22, 2016 Assured Guaranty subsidiaries sued Puerto Rico over its diversion of toll revenues that had supported insured bonds.
Hedge Fund GO Holders Sue Puerto Rico
July 20, 2016 Six hedge and investment funds holding Puerto Rico general obligation bonds sued Puerto Rico leaders Wednesday, seeking the...
Investor Sues Puerto Rico Governor and PRHTA
July 19, 2016 An investor in Puerto Rico Highways and Transportation Authority bonds has sued Puerto Rico officials and the PRHTA.