Puerto Rico

A majority of the new Oversight Board members may be more creditor friendly.

A change in status would have both upsides and downsides for the island territory.

A nonbinding referendum on U.S. statehood was leading with more than 52% support, with more than 95% of votes counted, the Associated Press reported.

Justin Peterson left the meeting to deprive the board of a quorum and prevent the adoption of a debt plan he opposes.

Justin Peterson said he expects the next fiscal plan will allocate money for Puerto Rico's central government debt.

Judge Laura Taylor Swain also rejected a motion for a court-appointed investigation of mediation participants engaging in insider trading of Puerto Rico bonds.

The board threatened legal action if the local government continued to implement the three pension laws passed in August.

The board asked the judge to not put any deadlines on the negotiations.

The Oversight Board said it is working on a response.

Surveys show employment was up as much as 7% in September from April.

Collections were ahead of Oversight Board's May projections but behind figures for 2019.

Puerto Rico Oversight Board says that National Public Finance Guarantee could do "confirmation discovery" at its own expense.

Puerto Rico's FAFAA and bond insurer Ambac also call for rejection of a bondholder proposal for deadlines to approve a plan of adjustment.

Justin Peterson represented the Ad Hoc Group of General Obligation Bondholders for several years.

They say the board should specify a central government plan of adjustment by Nov. 30.

National Public Finance Guarantee says that hedge funds profited from their participation in mediation sessions on central government Puerto Rico bonds.

Delgado Altieri is polling essentially even with Pedro Pierluisi.

The board is searching the entire government and may find a far higher losses.

Along with substantial reductions in payouts to the GO and PBA bondholders, the board is proposing a near wipe out for HTA, ERS, PRIFA rum, MBA, and CCDA bondholders.

August and September economic activity has probably been better than that of July, analysts said, however some expect economic activity will resume its decline in October and the following months.