Puerto Rico

Puerto Rico's unemployment rate rose to 13.5% in August from 13.1% in July.

Construction on the final phase of a major Puerto Rico housing and commercial development project in San Juan started Sept. 18.

Puerto Rico House of Representatives President Jaime Porelló Borás is working to have Puerto Rico's anticipated $900 million tax and revenue anticipation note governed by New York State law.

Puerto Rico plans to sell a $900 million tax and revenue anticipation note within the next 30 days.

Puerto Rico's August revenues were 5.8% less than projections.

The Puerto Rico Electric Power Authority appointed Lisa Donahue as its chief restructuring officer citing her successful experiences turning around distressed large companies.

The New York Times is reporting that AlixPartners will lead the restructuring of the Puerto Rico Electric Power Authority.

Two key members of the Puerto Rico House of Representatives have proposed significant changes to Puerto Rico's tax system.

Puerto Rico's government is closer to naming a master developer to repurpose the United States Navy's former Roosevelt Roads base through development that the government expects to create 20,000 long-term jobs.

Puerto Rico is doubling fares on its Tren Urbano rail line in San Juan to prop up the finances of the transit system.

In July Puerto Rico's economic activity index was down 0.8% compared to June.

Puerto Rico Gov. Alejandro García Padilla said Thursday that a Puerto Rico tax reform proposal will be ready in October, which would be sooner than had been anticipated.

The authority's forbearance arrangements with creditors reinforce banks' claims of priority over bondholders in getting repayment and make it more difficult for bondholders to force increases in PREPA rates.

The Puerto Rico Electric Power Authority's decision in its forbearance agreement to disclose certain information to only some its bondholders could put both PREPA and those investors at an increased risk of committing securities law violations, disclosure experts said Wednesday.

Analysts had mixed opinions on how the Puerto Rico Electric Power Authority defined the responsibilities of the chief restructuring officer in a Tuesday announcement.

Puerto Rico's unemployment rate was steady in July compared to June and other employment data was mixed.

The Puerto Rico Electric Power Authority put off a day of reckoning in an agreement with creditors announced Thursday, but still may be headed for what would be the largest municipal bond default in U.S. history.

The Puerto Rico Electric Power Authority announced agreements with insurers and bondholders controlling more than 60% of PREPA's outstanding bonds to amend existing bond documents to provide PREPA with liquidity and for PREPA to appoint a chief restructuring officer.

Net revenues of the Puerto Rico Aqueduct and Sewer Authority came in 6% ahead of budget in fiscal 2014.

The Puerto Rico Treasury Department and struggling Doral Financial Corp. have entered into court-supervised negotiations over Doral's claim for $229 million.