Puerto Rico

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.

Puerto Rico's weak economy and the commonwealth's government are continuing to pressure Puerto Rico banks, Moody's Investors Service said Tuesday.

Puerto Rico's Doral Financial Corp., which ratings agencies believe may be near bankruptcy, is demanding Puerto Rico's Treasury Department pay it $230 million immediately.

Puerto Rico's April revenues came in 26% below government projections, largely because corporate taxes came in $380 million short.

Puerto Rico-based Doral Financial Corp. is likely to default on more than $150 million in municipal notes and bonds, ratings agencies said.

The Puerto Rico government's recently released four-year economic plan covers many policies besides strictly economic initiatives, notably education and energy.

The Federal Reserve is studying Puerto Rico as an indicator of the level of risk in the muni market, where heavy retail investor presence can make behavior unpredictable, an economist with one its banks told municipal analysts on Thursday.

Puerto Rico plans to sell a $500 million municipal sales tax based bond in fiscal year 2015.

Puerto Rican investors in municipal bond closed-ended funds run by UBS AG, Banco Popular and Popular Securities sued the firms.

Net revenues of the Puerto Rico Aqueduct and Sewer Authority are ahead of budgeted expectations by 7.1% in the first nine months of the fiscal year.

Puerto Rico's government has posted an English language summary of the governor's proposed fiscal 2015 budget.