Puerto Rico

The Congressional Task Force on Economic Growth in Puerto Rico should avoid any changes to the Jones Act while considering various courses of action to help boost Puerto Rico's struggling economy, four congressmen said in a letter to the task force's House members.

Puerto Rico business groups announced Wednesday that they would sue to block the Puerto Rico Electric Power Authority restructuring deal.

Puerto Rico's July General Fund revenues came in 1% above the government's forecast for the month.

Puerto Rico's Office of the Comptroller is conducting 24 investigations into government corruption on the island, the office reported.

Puerto Rico's economy shrank 0.2% in June compared to May, according to the commonwealth's economic activity index.

Administration officials and lawmakers are vetting candidates and rejecting some put forth by Republicans for the Puerto Rico oversight board as the Sept. 15 deadline for naming board members approaches.

Washington's Puerto Rico rescue legislation makes its biggest break from municipal finance tradition in a section dealing with collective action, public finance lawyers said.

The eight members of a recently named congressional task force on Puerto Rico's economy are soliciting input from both public and private Rico stakeholders as they begin assessing possible federal changes that could help the territory.

Puerto Rico’s government is paying debt when the money has already been put in escrow accounts but is not paying other debt.

Puerto Rico's fiscal year 2016 revenues came in 6.4% short of its approved budget for the fiscal year.

Puerto Rico won't set aside money to pay general obligation debt and will set up an emergency spending fund, under bills signed by Gov. Alejandro García Padilla.

House Speaker Paul Ryan, R-Wis., announced on Monday that Sen. Orrin Hatch, R-Utah, would serve as the chairman of the Congressional Task Force on Economic Growth for Puerto Rico.

The lead attorney representing the interests of holders of COFINA senior bonds answered some questions about the bondholders’ goals and what is going on with the bonds.

Puerto Rico’s employment situation continued to improve in June, with total employment up 2% from a year earlier.

Assured Guaranty subsidiaries sued Puerto Rico over its diversion of toll revenues that had supported insured bonds.

Six hedge and investment funds holding Puerto Rico general obligation bonds sued Puerto Rico leaders Wednesday, seeking the government to use its money to pay GO bonds.

S&P Global Ratings said it has lowered its rating on certain Puerto Rico Public Buildings Authority's bonds, as well as on the Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority's series 2011A bonds, to D (default) from CC following a default on payment of debt service on July 1.

An investor in Puerto Rico Highways and Transportation Authority bonds has sued Puerto Rico officials and the PRHTA.

Republicans delegates adopted a 2016 platform at their national convention in Cleveland that supports statehood for Puerto Rico, but not for the District of Columbia. The GOP also wants to abolish the Internal Revenue Service, overhaul the federal tax code, and expand the use of P3s for infrastructure projects.

The Puerto Rico rescue bill sets the stage for a control board that some say may be ill suited to solving the island's unprecedented crisis.