Puerto Rico

The primary union at the Puerto Rico Electric Power Authority has sued to overturn the law that paved the way for its restructuring agreement with creditors.

Puerto Rico Gov. Alejandro García Padilla appointed Víctor Suárez Meléndez to lead the commonwealth’s debt restructuring and oversee its management of debt.

The Puerto Rico House of Representatives voted overwhelmingly to exempt certain debt from eligibility for a payment moratorium it passed in April.

Puerto Rico Gov. Alejandro García Padilla is pushing Puerto Rico legislators to let him retain the right to halt all debt payments starting July 1 as they consider legislation to amend the payment moratorium bill signed earlier this month.

Puerto Rico got a mixed March employment report from the U.S. Bureau of Labor Statistics Friday.

House Republican leaders plan to hold a policy meeting Friday morning with their members on pending legislation for Puerto Rico to try to gain more support for it.

Puerto Rico’s economy has been worse that reported, according to the most widely cited measure of its economic activity.

The Natural Resources Committee has indefinitely delayed the vote that was planned for Thursday on the Puerto Rico bill as its members, Treasury Department officials and other stakeholders continue to try to address the concerns raised about the measure and change its provisions to ensure they can get enough votes to pass it.

The House Committee on Natural Resources is moving forward with a bill to help Puerto Rico that loosens provisions regarding the oversight board but still keeps the cram down and debt litigation moratorium portions of an earlier version that drew criticism.

Standard & Poor's has declared the Government Development Bank for Puerto Rico in "selective default" because the governor has partially frozen account withdrawals.

Puerto Rico offered a revised restructuring proposal to bondholders that includes paying more annually and extending the maximum maturity of debt by 18 years.

Several prominent Puerto Rico politicians are working to exempt about 46% of the commonwealth’s debt from the debt payment moratorium signed Wednesday.

PREPA’s Revitalization Corp. submitted proposed securitization charge-setting mechanisms to the Puerto Rico Energy Commission.

The House Natural Resources Committee is expected to release a revised version of its Puerto Rico bill on Monday, including a modification designed to avoid a constitutional challenge if the legislation is enacted, sources said.

The Puerto Rico Electric Power Authority said that its restructuring agreements with its creditors still are on track after the island government adopted a law allowing a debt payment moratorium.

Puerto Rico officials clashed with investors Wednesday as the government enacted a moratorium on paying the territory’s $70 billion of public debt.

Bond holders and analysts criticized Puerto Rico’s proposed debt payment moratorium, saying it would bog down the territory in constitutional challenges.

Puerto Rico health care providers, payers and stakeholders are pressing U.S. lawmakers and administration officials to increase funding for the territory’s Medicaid and Medicare programs in legislation.

A group of investors sued the Government Development Bank for Puerto Rico Monday to protect their interests after the governor said the bank can't make its $423 million debt payment due May 1.

The Puerto Rico Public Finance Corp. is the only Puerto Rico public sector entity that will fail to make a bond or note payment due Friday.