Puerto Rico

Two ratings agencies expect AES Puerto Rico to default on Puerto Rico municipal conduit bonds.

Swain set a deadline ahead of what was requested by the Oversight Board.

The New York Fed said the tech sector's employment contraction impact on the New York City economy was unlikely to be significant.

Through the fiscal year's first eight months, revenues are 17.2% above projections.

The Puerto Rico Oversight Board wants the district court's PREPA bankruptcy to continue even if an appeals court considers the bondholders' appeal of a lien ruling.

Economic activity index is up month-to-month but down year-over-year.

The board says the PREPA bondholders are making "extraordinarily broad and burdensome" requests.

The bond parties want the appeals court to immediately consider their liens on revenue but getting this heard before an approved plan of adjustment may be an uphill battle.

In his annual address to Puerto Rico's legislature Pedro Pierluisi hailed the growth of Puerto Rico's economy.

The governor asked the high court to review a ruling that gave the board broad power to overturn laws it deems inconsistent with the island's fiscal health.

Analysts say the PROMESA bankruptcy law is more creditor friendly than how the judge in the PREPA case interprets it.

The ruling may open the way for approval of a payout to bondholders as small as 0.21%.

A magistrate told PREPA bondholders and Oversight Board to continue negotiations for at least another 13 days.

Holders of COFINA subordinate bonds are seeking compensation from the U.S. government, claiming their property was taken without just compensation.

The ruling could set a precedent for the board's control over local government policies affecting the economy.

Judge Swain will approve the disclosure statement and sent the parties back to mediation.

The bond trustee has said treating bondholders differently violates the bond's trust agreement and makes the plan of adjustment unconfirmable.

While the FAFAA backed the board's discovery timeline, bondholders argue the board is trying to "run out the clock."

It says the plan of adjustment can treat bonds of National Public Finance Guarantee differently and let National vote in a different class.

The proposed plan's superior treatment of National Public Finance Guarantee-insured bonds is discriminatory and thus illegal, they allege.