Puerto Rico

A COFINA bondholder group welcomed the plan as a step toward consummating the COFINA restructuring agreement-in-principal.

With all the wrongdoing by powerful players in the public and private sectors, it appears very likely that these players may owe lots of money to bondholders.

Governor rejects ending Christmas Bonus or cutting pensions.

The report aims to answer how the debt problem developed and to make recommendations to prevent such a problem from ever arising again in Puerto Rico.

Judge Laura Taylor Swain sided with the retired employees, saying the bondholders' security interest was not properly perfected.

An estimated $69.1 billion of the $139 billion is already committed through a combination of insurance claims and federal disaster aid.

A judge's ruling on whether the U.S. government is responsible for covering Oversight Board-imposed bond losses may come in the winter.

Northeast municipal bond issuance sank 11.7% in the first half of 2018 compared to a year earlier, reflecting a national trend driven by federal tax changes.

A hurdle has been passed for a judge to issue a ruling on the federal government's responsibility for making investors whole on impaired Puerto Rico bonds.

Key parties say the Oversight Board must certify a fiscal plan with more revenue before they will approve the agreement.

The deadline for voting is 5 p.m. on Sept. 12.

In early December a Puerto Rico government official said that he expected the fiscal year General Fund revenues to be 25% less than budgeted.

For one thing, analysts say general obligation bondholders may attempt to derail the plan in Title III bankruptcy court.

The Puerto Rico Oversight Board, the government of Gov. Ricardo Rosselló, COFINA senior bondholders’ representatives, COFINA subordinate bondholders’ representatives, and bond insurers agreed to the deal.

A draft of the plan in early July indicated that 71.3% of the funding was to come from the federal government.

The governor vowed to disobey Swain’s order, which he said would end Christmas bonuses or lead to "massive layoffs."

The board declined to say what the net impact on the central commonwealth government’s finances would be.

Christian Sobrino Vega takes over directorship of the agency in charge of debt restructuring from Gerardo Portelo Franco,

A new preliminary restructuring deal between the Puerto Rico Electric Power Authority and its creditors is a positive step for bondholders in a post Hurricane Maria world, according to analysts.

Puerto Rico has released three key reports since July 10.