Puerto Rico

SIFMA, which also filed a brief, said the District Court judge's rejection of a bondholder lien on PREPA's revenues "grossly misreads the underlying bond documents."

The suit contends PREPA's fiscal plans and budgets were manipulated to deprive bondholders of their claim on the authority's revenues and depress the value of the bonds.

The experts, hired by bond parties, say the Oversight Board's economic and expense assumptions underlying its plan of adjustment are too pessimistic.

Taxpayers will get refunds in April, if the legislature approves the deal.

The appeals court grants an expedited schedule to the appeal.

Bond parties say their action against the commonwealth of Puerto Rico isn't barred by PREPA bankruptcy.

Most bondholders voted for the plan, which offers an upfront cash payment and the extension of bond maturities by 25 to 35 years.

Judge says U.S. municipal bonds are less secured than people thought.

Bond parties to challenge Judge Swain's ruling saying they do not have a lien on revenues, among other things.

Swain rejects five bondholder arguments, bringing approval of the Oversight Board's plan of adjustment nearer.

Pierluisi says there's more to the island's growth than federal funds. Bondholders said that means the Puerto Rico Electric Power Authority can afford to pay them more.

Judge Swain says she'll hear claims that the government has manipulated PREPA's budgets to bondholders' detriment.

First quarter revenues were 20.4% higher than Oversight Board forecasts.

Oversight Board asks Gov. Pierluisi not to sign a bill it says would cost $3 billion over five years.

Judge Swain's action removes the last major hurdle for her to approve the PREPA plan of adjustment before the confirmation hearing, although appeals are expected.

Assured Guaranty and GoldenTree offer a alternative to the deal the Oversight Board reached with BlackRock and four other investment firms.

Observers say Puerto Rico's 2024 elections may not change government policy much.

The board askeds the judge to dismiss objections that claim its plan of adjustment is unconfirmable.

GoldenTree Asset Management, Syncora Guarantee, Assured Guaranty and certain members of an ad hoc group of the power utility's bondholders entered a cooperation agreement where they pledge to work together against the agency's potential debt-cutting plan, according to a court document.

The deal is expected to be executed Dec. 14, putting four government-run tollways under Albertis Infraestructuras SA, which already runs Puerto Rico toll roads.