Puerto Rico

The Obama administration is emphasizing the urgency of giving Puerto Rico the right to use a bankruptcy process for its debts.

Puerto Rico’s fiscal, economic and debt proposals will be reshaped by a wide array of discussions and negotiations over the coming weeks and months, observers say.

The Puerto Rico Aqueduct and Sewer Authority has reached a tentative settlement with the U.S. Justice Department and Environmental Protection Authority under which it will spend almost $1.54 billion to upgrade and improve its sewer systems island-wide, as well as the Puerto Nuevo system.

Eight Hispanic lawmakers called on the Department of Treasury Monday to take a more active role in helping Puerto Rico with its worsening fiscal situation by engaging Congress over pending Chapter 9 bankruptcy legislation.

The Bond Buyer and Interactive Data Corp. have introduced Puerto Rico Drilldown, an interactive tool to help bond investors sort and analyze their holdings as the commonwealth heads for the biggest debt restructuring in municipal history.

Puerto Rico Gov. Alejandro García Padilla explains why he is asking for concessions from Puerto Rico’s creditors.

It remains to be seen whether the Puerto Rico Fiscal and Economic Growth Plan will persuade investors to work with the government as it restructures about $72 billion of debt.

The Puerto Rico government's plan to pay as little as 12% of its debt from fiscal 2016 to 2021 is likely to face legal and political challenges, observers say.

Puerto Rico Gov. Alejandro García Padilla announced Friday the planned start of construction of a train line between San Juan and Caguas.

Suggestions for handling Puerto Rico’s fiscal crisis, including a control board, continue to circulate in Congress as it prepares to resume its session after Labor Day.

The Puerto Rico Electric Power Authority still has months of work ahead to come to agreement on such issues as the maturity structure for its new bonds and improvements to its efficiency.

The proposed recovery plan agreed to by the Puerto Rico Electric Power Authority (PREPA) and certain bondholders, announced Wednesday, furthers the view that a restructuring of the issuer's debt obligations remains probable, Fitch Ratings said.

The Puerto Rico Electric Power Authority and its forbearing bondholders reached an agreement Tuesday night that would cut the amount of PREPA's outstanding debt, reduce near-term debt service, and lower interest rates.

A leader of Puerto Rico's primary opposition party has accused Millstein & Co. of a conflict of interest in its dealings with the Puerto Rico Electric Power Authority.

James Albino stepped down as executive director of the President’s Task Force on Puerto Rico Friday to take a deputy assistant secretary position with the Department of Veterans Affairs, an administration spokesperson confirmed.

Puerto Rico bondholders may get a clearer picture in the coming week of how they will fare under restructuring plans for $72 billion in debt.

U.S. lawmakers were presented with possible options that range from backstopping Puerto Rico's debt to authorizing Chapter 9 bankruptcy to installing a financial control board.

The 60 Plus Association announced on Thursday that it is forming a coalition of small holders of Puerto Rico bonds that will push for the creation of a financial control board and oppose bankruptcy legislation for the territory.

Buy-side analysts and strategists offered recovery solutions for Puerto Rico ranging from eligibility for Chapter 9 bankruptcy to Congressional intervention and economic reform.

The Puerto Rico Electric Power Authority said Tuesday it had reached oil and natural gas purchase deals that will save it $55 million annually.