Puerto Rico

The Senate Finance Committee is pressing Treasury Secretary Jack Lew for positions on Puerto Rico, including whether it supports giving the troubled territory the ability to allow its public entities to file for bankruptcy protection under Chapter 9.

The Puerto Rico Aqueduct and Sewer Authority is "optimistic" it can sell a bond by the end of August, raising money to repay a bank line and make capital improvements.

Puerto Rico's approved budget allocation for appropriation and GDB debt is 19% short of the amount requested by the governor.

The Puerto Rico Electric Power Authority extended its contract with restructuring consulting firm AlixPartners to mid-November.

Sens. Chuck Schumer, D-N.Y., and Richard Blumenthal, D-Conn., unveiled a bill on Wednesday to allow Puerto Rican public entities to declare Chapter 9 bankruptcy.

Nebraska relies on Chapter 9 as a quick and easy way to restructure troubled special taxing district debt.

Puerto Rico’s attempt at a quick and consensual debt restructuring may quickly dissolve into legal chaos, analysts said.

Puerto Rican officials called for consensual restructuring of its debt with its creditors at a meeting Monday in midtown Manhattan.

Puerto Rico’s Monday meeting with its bondholders puts the commonwealth and its creditors on an unpredictable path of negotiation and litigation, if history is a guide.

A Puerto Rico diaspora group launched a project to help Puerto Rico’s economy Friday.

The House Judiciary Committee is unlikely to pass legislation that would give Puerto Rican public municipalities and utilities the ability to file for bankruptcy under Chapter 9, committee chair Bob Goodlatte, R-Va., said in a Wednesday statement.

Puerto Rico plans to present its case for restructuring its debt in New York City on Monday.

Pressure is mounting for Congress to make Puerto Rico's public entities eligible for Chapter 9 bankruptcy protection in the wake of an appeals court decision that found the territory's restructuring law illegal, and calls from top presidential candidates for congressional action.

Puerto Rico Gov. Alejandro García Padilla signed a bill that will allow the government the option of suspending general obligation bond set-asides early in the fiscal year.

Puerto Rico has indicated that September may be the start of the commonwealth government’s monetary defaults.

About 53% of open end mutual funds have exposure to some type of Puerto Rico debt, down from almost 70% in 2014, according to Morningstar Inc.

Puerto Rico Gov. Alejandro García Padilla has signed a fiscal year 2016 General Fund budget for $9.8 billion.

Amid talks of Puerto Rico’s looming debt crisis, two senators plan to introduce companion legislation to a bill that would allow Puerto Rico to grant Chapter 9 bankruptcy powers to troubled public entities on the economically distressed island.

The Puerto Rico Electric Power Authority made the full $415 million bond payment due Wednesday and promised to reach a comprehensive restructuring plan with its creditors by Sept. 1.

The Puerto Rico Electric Power Authority announced Wednesday morning that it was making the full $416 million bond payment due Wednesday.