Puerto Rico

The Puerto Rico Oversight Board is seeking comments on Gov. Alejandro García Padilla's proposed fiscal plan.

Puerto Rico Governor-Elect Ricardo Rosselló is seeking $900 million to get Puerto Rico through the current fiscal year.

Puerto Rico Gov. Alejandro García Padilla named Aaron Bielenberg as the PROMESA board’s revitalization coordinator.

Ricardo Rosselló Nevares' election as Puerto Rico's next governor is seen as positive for bondholders as the island's debt restructuring looms.

The city government of Toa Baja, Puerto Rico, shut down Monday due to lack of money, a path a municipal expert said other Puerto Rico municipalities will likely take in the next 12 months.

The judge hearing all the debt lawsuits in Puerto Rico’s federal court ruled for a continued stay in three cases, saying the delay in litigation won’t hurt the investors’ interests.

The Government Development Bank for Puerto Rico, with about $3.8 billion of debt outstanding, may fail and it’s possible that the island’s cities and public corporations won’t get all their deposits back, said Puerto Rico Secretary of the Treasury Juan Zaragoza.

Puerto Rico-based tax, economic and investment banking specialists are criticizing the 10-year fiscal plan the governor submitted to the Puerto Rico Oversight Board last month.

Puerto Rico announced that pharmaceutical giant Biogen will open a drug manufacturing factory on the island, creating 350 jobs.

Puerto Rico Gov. Alejandro García Padilla nominated five professionals for the board of directors of the Puerto Rico Electric Power Authority and three for the board of the entity planned to issue a securitized version of PREPA’s debt.

In a sign of the challenges the federal board overseeing Puerto Rico’s debt workout may face, the island’s power authority’s deal to restructure more than $8.3 billion remains mired in litigation.

Chairman of the Board of the Puerto Rico Electric Power Authority Harry Rodríguez resigned Tuesday.

The Puerto Rico Oversight Board urged the judge in four key Puerto Rico debt cases to continue a freeze on the litigation.

Puerto Rico employment levels declined in September from August, according the U.S. Bureau of Labor Statistics.

Municipal analysts reject Puerto Rico's claim it can't pay any debt service in the next 10 years without federal help.

The Puerto Rico Oversight Board directed six of the island’s public entities to develop and present fiscal plans.

The Puerto Rico Oversight Board is considering filing briefs in four Puerto Rico bond suits.

Puerto Rico told the Puerto Rico Oversight Board it would have $0 to pay for debt service in the next 10 years unless the federal government passed measures to improve the island’s economy.

Puerto Rico Gov. Alejandro García Padilla plans to present a 10 year fiscal plan to the Oversight Board at its second meeting Friday.

Puerto Rico bondholders have reason to be optimistic about overturning the island's debt payment moratorium in court, based on rulings by the judge handling most of the litigation.