Puerto Rico

The decline in the unemployment rate is mostly due to emigration, a challenge as the territory restructures its debt.

The National Federation of Municipal Analysts is concerned that a district court ruling on Puerto Rico highway bonds could be a landmark change for the worse when it comes to how investors view revenue bonds.

The Puerto Rico Economic Empowerment Act of 2018 would implement some of the recommendations made by a congressional task force as well as provisions left out of disaster relief legislation, according to the two Republican senators who offered it.

April’s General Fund collection was 15.7% higher than that of April 2017.

The effort by bondholders to work together is seen as a "positive development," though their plan was quickly rejected by the government.

The consensual plan for $4.2 billion of Government Development Bank bonds amounts to repayment of 55 cents on the dollar.

GAO says Congress should consider giving SEC penalty authority over issuers, stripping Puerto Rico's triple-tax exemption,and expanding investor protection.

Bondholders will have to rely on the Oversight Board or the courts for debt service, analysts said.

Puerto Rico would have to have a vibrant economy and a stable government that is fiscally sound, said Rep. Rob Bishop.

A probe into possible wrongdoing prompted Gov. Ricardo Rosselló to jettison five staffers, weakening his administration at a critical juncture in the commonwealth's debt restructuring.