Puerto Rico

The president of Puerto Rico’s main opposition party said financial disclosures reported in The Bond Buyer may disqualify some members of the federal Oversight Board and staff.

Puerto Rico Oversight Board Interim Executive Director Ramón Ruiz owns at least $265,000 in Puerto Rico bonds and debt, in what some observers said may be a violation of federal laws on conflict of interest.

Investors are mindful of the lessons of Puerto Rico’s financial distress as they chase higher yields and the benefits of interest payments that aren’t taxable by the federal government or by any U.S. state or municipality.

Puerto Rico Gov. Ricardo Rosselló nominated experienced energy sector professional Ricardo Ramos to be the new executive director the Puerto Rico Electric Power Authority.

Rosselló made a request to extend the stay on debt-related lawsuits till the end of the year in his fiscal plan, released Wednesday, in a move that drew objections from bondholder groups.

Puerto Rico Gov. Ricardo Rosselló submitted a 10-year fiscal plan to the Oversight Board that would allow for annual debt payments of about 18% to 41% of debt due.

Puerto Rico Gov. Ricardo Rosselló said he would be handing in a 10-year fiscal plan that avoids cuts to essential government services.

Puerto Rico Electric Power Authority bondholders face greater uncertainty after the utility’s contract with the firm leading its restructuring efforts expired, Moody’s Investors Service said in a report Monday.

Resignations by nearly all of the leadership at the University of Puerto Rico in protest to budget cuts have heightened S&P Global Ratings’ concerns over the school’s debt challenges.

HJ Sims has announced it has expanded its Puerto Rico advisory team in Guaynabo by adding four new experts in its office in Guaynabo: Roberto Feria Cestero, Carlos Alvarado, Maria "Magie" Mena, and Adrian Fernandez.

Senior holders of Puerto Rico Sales Tax Financing Corp. (COFINA) bonds filed a motion Wednesday to become involved in a court case that pits their interests against those of the commonwealth’s general obligation bond holders.

The Puerto Rico General Fund collected 21% more net revenues in January than budgeted.

Puerto Rico Gov. Ricardo Rosselló suggested Tuesday that the federal Oversight Board's plans for austerity may be against federal law.

Nearly the entire leadership of the University of Puerto Rico resigned in protest of a requested one-third cut in the commonwealth contribution to the school’s budget.

Fitch Ratings has downgraded the rating on the following bonds issued by the Puerto Rico Public Buildings Authority to D from C to reflect payment default: Government facilities revenue and revenue refunding bonds, series R, S, T, and U.

A member of the Puerto Rico House of Representatives asked U.S. Attorney General Jeff Sessions to change a planned referendum on Puerto Rico’s status.

Puerto Rico Gov. Ricardo Rosselló’s office blasted the president of the University of Puerto Rico for failing to provide information expected to be used to slash the university’s subsidy.

The Puerto Rico Energy Commission rejected immediate approval of the Aguirre Offshore Gas Port project for the Puerto Rico Electric Power Authority.

Tension between the Puerto Rico Oversight Board and the island's government grew Sunday when the governor rejected the board's claim to prior review of legislation.

Puerto Rico Gov. Ricardo Rosselló has said that he is setting aside $146 million for the payment of general obligation bonds.