Puerto Rico

The judge overseeing Puerto Rico’s Title III bankruptcy process named five judges to help mediate disputes over island government and sales tax bonds in the biggest municipal restructuring in U.S. history.

U.S. Sen. Tom Cotton, R-Ark., attacked the Puerto Rico Oversight Board’s plan to slash bondholder payments as illegal.

Puerto Rico fiscal officials delayed acceptance of measures in the island electric authority's $9 billion debt deal, spurring speculation that the agreement with creditors may be in jeopardy.

Puerto Rico’s voters overwhelmingly voted on Sunday for the island to become a state in a vote the opposition chose to boycott.

Puerto Rico will likely need to fund government operations using sales-tax revenue claimed by warring factions of bondholders unless a legal dispute at the heart of the island’s bankruptcy is resolved by November.

Puerto Rico’s government and Oversight Board have declined to say what debt service bondholders should expect in the coming fiscal year despite repeated inquiries.

Puerto Rico will hold a plebiscite on its political status Sunday, even though the U.S. Justice Department hasn't approved the wording of the measure.

S&P Global Ratings said it lowered its rating on Puerto Rico Sales Tax Financing Corp.'s (COFINA) senior sales tax bonds to D from CC on non-disbursement by the trustee of scheduled monthly interest payments due June 1, 2017, in compliance with an order of the U.S. District Court for the District of Puerto Rico.

How the Puerto Rico’s Title III bankruptcy case judge handles the commonwealth’s highways bonds may threaten revenue bond bankruptcy precedent.

Assured Guaranty, National Public Finance Guarantee, and Financial Guaranty Insurance Co. challenged diversion of special revenue bond collateral that secures $4.1 billion of Puerto Rico Highways and Transportation Authority bonds.

Puerto Rico’s April economic activity index fell 2% in April from a year earlier, signaling continued weakness as the island government embarks on its record breaking municipal debt restructuring.

Puerto Rico's governor presented a fiscal 2018 budget that allots at least $2.04 billion for pensions and nothing for debt.

Puerto Rico Gov. Ricardo Rosselló proposed an austere fiscal year 2018 General Fund budget that he said cut operating expenses by 9.1%.

A federal judge ordered a freeze on Puerto Rico Sales Tax Financing Corp. (COFINA) debt payments Tuesday.

Two University of Puerto Rico professors predict Gov. Rosselló’s budget, due Wednesday, will lead to widespread militant actions.

President Trump’s proposed budget allocates Puerto Rico $1.24 billion more Medicaid spending than the federal government had promised.

Puerto Rico put its Highways and Transportation Authority and Employees Retirement System into bankruptcy affecting $9.5 billion of debt.

Puerto Rico’s April employment rose above 1 million for the first time since August 2013.

The first hearing of the Puerto Rico Title III case on Wednesday reinforced that the battle between general obligation and Puerto Rico Sales Tax Financing Corp. (COFINA) bondholders will be a central issue as the biggest municipal restructuring gets underway.

Puerto Rico’s debt reorganization hearings began with a decision by Judge Laura Taylor Swain to consolidate administration of two existing filings affecting about $30 billion of bonds.