Puerto Rico

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.

Three former Puerto Rican officials and another defendant were found guilty of various charges of government corruption Friday.

The SEC has given a subpoena concerning the 2012 and 2013 bonds to PREPA, which is cooperating in the investigation, the power utility said Thursday.

Puerto Rico Gov. Alejandro García Padilla told the Oversight Board that his government has already taken extensive austerity measures in a relatively poor society and that further austerity isn't the way to go.

Puerto Rico’s economic activity index rose 0.2% in August from July, its second straight month-over-month increase.

A Puerto Rico government commission report raised concerns over debt-service coverage, illegalities, disclosures and accounting issues regarding $673 million of bonds issued by the island’s power utility in 2013.

The Puerto Rico Oversight Board, at an initial meeting that was interrupted by protests, named José Carrion III chairman and ordered the island government to provide a fiscal plan next month.

The Puerto Rico Electric Power Authority will attempt change the mind of the Puerto Rico Energy Commission concerning the Aguirre Offshore Gasport.

Despite an increasing possibility that the Puerto Rico Sales Tax Financing Corp. (COFINA) will make full debt service payments through 2017, S&P Global Ratings' CC rating with a negative outlook on COFINA's sales tax bond reflect its continued opinion of COFINA's high likelihood of default.

Groups opposed to the Puerto Rico Oversight Board plan to try to prevent its first meeting on Friday in New York City.

Puerto Rico’s retirement system plans to join an ongoing lawsuit filed against UBS over the alleged mishandling of pension obligation bond proceeds.