Puerto Rico

Puerto Rico Electric Power Authority's forbearing bondholders announced an offer Wednesday that would avoid expected cash defaults.

Puerto Rico’s economic activity index was down in January and up on February.

Puerto Rico officials voiced optimism Monday and Tuesday about recent developments with the Commonwealth’s debt and budget.

The Puerto Rico Electric Power Authority and its creditors have agreed to extend their previous forbearance agreement another 15 days, PREPA announced late Monday.

Puerto Rico Electric Power Authority may announce whether its bondholders agreed to extend a forbearance agreement on more than $8 billion of debt.

Puerto Rico's unemployment rate plunged to a seven-year low in February, even as a survey of employers showed the number of people working for them slipped from January.

A major mall opened in San Juan on Thursday, leading to as many as 3,000 new jobs in Puerto Rico.

Fitch Ratings downgraded Puerto Rico’s general obligation bonds to B from BB-minus on Thursday, citing concerns about the commonwealth’s ability to sell a bond to increase liquidity and the legislature’s willingness to pay back the commonwealth’s debt.

A forbearing bondholder of the Puerto Rico Electric Power Authority is hopeful about PREPA’s future and is prepared to lend it more money.

Puerto Rico Gov. Alejandro García Padilla said he was opposed to amending the Puerto Rico constitution to allow restructuring of its debt.

There are increasing reports of government officials discussing debt restructuring in Puerto Rico.

Some local governments may require extraordinary financial assistance from the Commonwealth, adding to pressure on its general obligations.

RBC Capital Markets purchased a $246 million bond anticipation note from Puerto Rico Monday, supported by a recently passed oil tax increase.

Puerto Rico’s employment situation is getting worse or significantly better, depending on which U.S. Bureau of Labor Statistics survey one believes.

Three members of the Puerto Rico House of Representatives plan to propose legislation to open the door to restructuring the commonwealth's debt

The Tax Reform Act for Puerto Rico presented by Governor Alejandro Garcia Padilla is the significant change Puerto Rico needs to stimulate the commonwealth's economic development and confront the Island's fiscal challenges.

Puerto Rico reported that the Government Development Bank for Puerto Rico’s liquidity position improved $33 million in February but its General Fund revenues came in $6 million short.

Puerto Rico's House of Representatives Tuesday passed amendments to legislation authorizing $2.95 billion in oil tax-supported bonds, opening the way to the bonds' sale in the next few weeks.

Groups ranging from doctors to truckers to mayors have voiced opposition to a proposed shift from a 7% sales tax to a 16% value added tax, part of an overhaul that would also slash income taxes and eliminate a corporate receipts tax paid by large companies.

The Puerto Rico Aqueduct and Sewer Authority has extended Bond Anticipation Notes due with two banks by two months.