Puerto Rico

Rep. Rob Bishop wants a simple up or down vote on statehood.

One Puerto Rico Oversight Board member said that approving the COFINA deal was the board's safest choice.

Puerto Rico credit unions say that the disclosure fails to provide concrete numbers on how bonds will be restructured.

Christian Sobrino Vega, the commonwealth’s representative to the Puerto Rico Financial Oversight and Management Board, made clear in an interview with The Bond Buyer that the commonwealth has not and will not intermingle federal disaster aid with debt payments to the island’s bondholders.

The board wants to avoid invoking its power to force spending cuts to pay for the expected annual payment to government workers.

With COFINA and GDB deals moving forward, the Public Buildings Authority, Aqueduct and Sewer Authority, and University of Puerto Rico may be next in line.

While the $17.6 billion sale-tax bond restructuring advanced, a group holding more than $3 billion of Commonwealth bonds formed to help negotiate a comprehensive restructuring of that debt.

The bill would require that new owners respect existing labor contracts and pensions.

The unsecured creditors gave conditional support to the biggest Puerto Rico debt restructuring.

Puerto Rico governor says that the board's objections are unfair or inaccurate.