Puerto Rico

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.

Puerto Rico's government has reached a deal with unions representing 92% of its unionized workers.

Puerto Rico is taking steps to increase federal grants to the commonwealth with a new Federal Funds Management Office.

Doral Financial Corp. has sued the Puerto Rican government for more than $229 million.

Puerto Rico's April economic measures were mixed, with its economic activity index down but its unemployment rate also down.

Puerto Rico Gov. Alejandro García Padilla signed a bill Tuesday setting new rules for Puerto Rico's electricity sector.

The Puerto Rico Electric Power Authority's financial performance is missing targets, according to its recently posted figures through March.

Some large Puerto Rico government unions are threatening to strike if they cannot make changes to the governor's recent budget proposals.

Puerto Rico's banks are in difficult straits, analysts from Standard & Poor's and Fitch Ratings said Tuesday.

Moody's said Puerto Rico Gov. García Padilla's proposed budget is a credit positive but that the commonwealth government still has potential challenges.

The Puerto Rico Department of the Treasury said it does not owe Doral Financial Corporation $230 million, as the bank has been claiming.