Puerto Rico

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.

The Puerto Rico Public Corporations Debt Enforcement and Recovery Act, approved by the Puerto Rico legislature in late June, has had a notable impact on market activity and perceived credit quality for bonds of the commonwealth and its agencies.

The Puerto Rico Electric Power Authority moved a step closer Thursday to opening an important natural gas port that would lower its operating costs.

Puerto Rico's net revenue was 6.3% ahead of projections in July.

Puerto Rico Gov. Alejandro García Padilla created a public transit authority to integrate oversight over various modes of transportation.

June was the first month in almost two years when all the private sector components of Puerto Rico's Economic Activity Index were positive year over year.

A rating boost affirms the ability of bond insurer Assured Guaranty to minimize its Puerto Rico exposure, according managing director John Hallacy.

The chances that the commonwealth of Puerto Rico and its Government Development Bank (GDB) will not have the liquidity they are forecasting are significant and growing, says Moody's Investors Service.

The deadline for the Puerto Rico Electric Power Authority to pay back its lines of credit to banks has been pushed back to Aug. 14.

The Federal Reserve of New York recommended Puerto Rico's government make six major changes in a report it issued Thursday.

Pedro Pierluisi, Puerto Rico's sole non-voting member of Congress, has introduced legislation that would allow the commonwealth's government to authorize certain government-owned corporations to enter Chapter 9 municipal bankruptcy.