Puerto Rico

As parties renewed arguments on the administrative expense claim, some judges probed the nature of the bondholders' contribution to PREPA.

At stake is at least a $5.9 billion contract and the stability of electrical provision on the island.

Fernando Osorio Caño was named interim executive director after Mary Carmen Zapata resigned.

The Trump administration court filing will give PREPA bondholders an incentive to hold out for a better offer, according to one observer.

Puerto Rico's electric authority, mired in nine-year-old bankruptcy proceedings, is running low on cash and its efforts to reduce outages aren't succeeding.

The larger tax-exempt portion of the bonds reportedly were 18 times oversubscribed.

Analysts say the drought, which is expected to continue for at least several months, could have economic impacts.

PREPA bondholders asked the court to allow actions against Puerto Rico's central government, which they say undermined the authority's ability to pay its bonds.

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 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.

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.

The defendants include many of the largest municipal bond underwriters.

MBIA says it isn't responsible for what its subsidiaries did.

The Energy Bureau said rate adjustments that would help pay off debt should be considered after a PREPA plan of adjustment is approved.

U.S. District Judge Laura Taylor Swain ordered the parties in the PREPA bankruptcy to focus on the bondholders' accounting counterclaim.