Puerto Rico

Municipal Market Advisors said investors should sell off Virgin Island and Guam bonds if Puerto Rico's restructuring act is allowed to stand, because it could enable other U.S. territories to unilaterally change bond provisions.

The Puerto Rico Electric Power Authority is getting a short extension on line-of-credit payments that had been due in early July.

Puerto Rico's new debt law is a credit negative for financial guarantors, Moody's Investors Service said.

A Puerto Rico court has said the struggling bank Doral Financial will be able to have a court hearing for its claim against Puerto Rico's Treasury Department.

Puerto Rico Gov. Alejandro Garcia Padilla came out swinging with a defense of his economic and fiscal programs after Moody's Investors Service lowered the island's credit ratings farther into junk territory.

Puerto Rico Electric Power Authority made a key bond payment of $418 million to avert what would have been a record default for the muni market.

Puerto Rico Gov. Alejandro García Padilla signed a $9.56 billion General Fund budget Tuesday.

Oppenheimer Rochester Funds and Franklin Funds sued Puerto Rico Gov. Alejandro García Padilla to overturn the public corporation debt restructuring bill he signed Saturday.

The municipal bond market prepared for the possibility of its biggest default ever after the Puerto Rico legislature approved a law to allow public corporations to restructure their debt.

Puerto Rico Aqueduct and Sewer Authority said it doesn't anticipate restructuring its debt under a planned restructuring law for the commonwealth's public corporations.

Puerto Rico's fiscal year 2015 budget is advancing through Puerto Rico's legislature.

Puerto Rico's unemployment rate continued to decline in May, dropping to 13.8% from 14.1% in April.

Workers at two large Puerto Rico public corporations have approved going on strike.

The Puerto Rico Superior Court refused to hear a suit by Doral Financial against the Puerto Rico Treasury, but the firm said it has another venue to fight its $229 million dispute with the commonwealth's treasury.

Puerto Rico's Senate approved belt-tightening measures for government employees, a prerequisite for the adoption of Gov. Alejandro García Padilla's budget.

Puerto Rico's House of Representatives approved belt-tightening measures for government employees Friday.

Puerto Rico's House of Representatives is expected to vote on cuts to worker pay on Friday while some government workers are striking in protest.

Following Fitch Rating's downgrade of the Puerto Rico Electric Power Authority's ratings to BB and placement on Negative Watch, Fitch has placed the following ratings for AES Puerto Rico L.P. on Rating Watch Negative.

Fitch Ratings downgraded the Puerto Rico Electric Power Authority’s power revenue bonds to BB from BB-plus on Wednesday afternoon.

Puerto Rico's May revenues provided the commonwealth scant progress toward closing its revenue shortfall for the fiscal year.