Caribbean

The city brings $122.2 million of GO bonds to market next week, believing its investment-grade ratings outweigh the defaults of the Puerto Rico government.

The U.S. Department of Housing and Urban Development is suspending between $1 billion and $2 billion of aid approved.

The Puerto Rico Oversight Board want the U.S. Appeals Court for the First Circuit to uphold a lower court's rejection of the bondholders greater than $3.7 billion claim.

The committee's focus will be quickly devise means to address the Water and Power Authority's long-term obligations.

A pair of decisions from the U.S. Supreme Court may lead to a more pro-bondholder Puerto Rico Oversight Board.

Puerto Rico's debt and budget situations have improved but its political culture and economic trajectory haven't, many observers say.

Separately, the Puerto Rico Oversight Board approved the second consecutive consensually agreed upon budget, balanced according to modified accrual standards.

The bond parties want the U.S. Court of Appeals for the First Circuit in Boston to overturn the U.S. District Court's rulings on their efforts to gain control of PREPA.

Bond parties said U.S. District Court Judge Laura Taylor Swain's arguments against a claim were wrong on several bases.

The local government is seeking to replace LUMA Energy as the island's transmission and distribution company.