Puerto Rico

Puerto Rico's House of Representatives on Thursday passed bills authorizing a bond up to $225 million for public works.

Puerto Rico's unemployment rate declined by four tenths of a percentage point to 13.7% in December.

The Commonwealth of Puerto Rico has a long history of fiscal uncertainty and structural deficits. Responding to decades of general fund deficits in 2014, the rating services lowered the ratings on the Commonwealth’s general obligation credit to below investment grade, or junk status.

The recent rapid decline in oil prices may help Puerto Rico's economy and the Puerto Rico Electric Power Authority long-term but not short-term, said Moody's Investors Service.

Puerto Rico's government is getting feedback on a major tax reform that it is currently working on to improve the island's economy.

An unexpected drop in liquidity at the Government Development Bank for Puerto Rico raises the significance of a planned bond sale, Moody's Investors Service said.

Puerto Rico’s December revenues came in 7% short of budgeted projections.

The Government Development Bank for Puerto Rico's liquidity level declined by nearly 30% in December.

The Puerto Rico governor signed a bill amending an oil tax rise bill, opening the way for potential inflation adjustments to the oil tax.

Puerto Rico Gov. Alejandro García Padilla announced Friday evening that he was recommending a new leader for the Puerto Rico Highways and Transportation Authority.

In the second year of Puerto Rico Gov. Alejandro García Padilla's administration, there was plenty of news from the commonwealth for municipal bond investors to digest.

Two years into Puerto Rico Gov. Alejandro García Padilla's tenure, municipal bond market analysts are generally negative about his second year and concerned about the commonwealth's future.

Puerto Rico's economic activity index climbed 0.1% in November compared to October.

Puerto Rico Gov. Alejandro García Padilla is delaying signing an oil tax hike that would support Puerto Rico's Highways and Transportation Authority and GDB.

Puerto Rico's private sector employment reached a positive milestone in November.

The historic Condado Vanderbilt Hotel fully reopened in Puerto Rico on Dec. 17, opening the way to more than 300 employees to work there.

The Puerto Rico Electric Power Authority has released a restructuring progress report that said PREPA is taking steps to improve bill collections and is assessing possible changes to its rates.

The Puerto Rico Electric Power Authority said a recently completed business plan had no layoffs but declined to otherwise divulge its contents.

In November Puerto Rico General Fund revenues came in 0.7% short of budget, while the commonwealth's sales and use taxes came in 9.5% above November 2013.

Puerto Rico Governor Alejandro García Padilla announced that he will sign a bill to increase oil taxes to support the commonwealth's Government Development Bank for Puerto Rico and the Highway and Transportation Authority.