Puerto Rico

Puerto Rico shouldn’t misinterpret the economic boost from reconstruction following hurricanes that hit it hard last year as a sign of underlying strength, Federal Reserve Bank of New York President William Dudley said.

Rosselló doesn't mention Puerto Rico's debt in annual state of the commonwealth speech.

The bond insurers say the plan to create a wider Public Service Commission would lead to oversight by inexperienced political appointees.

Judge Laura Swain says she has no authority to challenge fiscal plans.

Rosselló is seeking assistance from Congressional leaders as Puerto Rico struggles to get on its feet financially five months after Hurricane Maria.

Creditors have until May 29 to file a proof of claim, though most bondholders won't have to respond because the judge is allowing trustees to file a "master proof of claim."

The island's future will depend on external aid, the amount of emigration, and internal reforms, economist Jason Bram found.

The judge overseeing the utility's debt restructuring acted in the face of threatened power outages as soon as Wednesday.

PREPA says a widespread shutdown of electricity on Wednesday is inevitable without a major cash infusion.

Puerto Rico's latest fiscal plan represents an improvement over the previous one, which included nothing for debt repayment.

Puerto Rico’s economy in December was 13.3% less active than it had been in August, a report said.

The agreement would include emergency disaster relief funding for Puerto Rico, the U.S. Virgin Islands, Florida and Texas that was approved by the House in December.

The Puerto Rico Oversight Board asked Gov. Ricardo Rosselló to change three fiscal plans.

Such a loan would be legal and would offer the best terms available to the utility, the board said in a court filing.

Municipal bankruptcy expert James Spiotto said courts have ordered that special revenue bonds be paid in midst of bankruptcy.

Laura Taylor Swain ruled that holding a lien isn't enough at this time to require ordering bond payments be made.

The bill will help the government avoid an island-wide blackout that could result from a PREPA shortfall.

The post-hurricane fiscal plan assumes that Puerto Rico will get a substantial amount of federal aid, but doesn’t include it in its calculation of available resources.

The Democrats' draft bill would be "a great way to make sure that no U.S. territory ever borrows in the muni market again," said Municipal Market Analytics' Matt Fabian.

Puerto Rico is arranging a loan to avoid blackout.