Puerto Rico

Standard & Poor's put Puerto Rico's barely investment grade general obligation rating on rating watch negative late Friday, focusing on what it said was lowered cash reserves at the Government Development Bank.

The Puerto Rico Gov. Alejandro García Padilla has signed into law bills setting up a city sales tax bond structure.

Puerto Rico has a tremendous amount of debt when looked at from some angles but its debt burden appears less severe from others.

The federal government approved spending $2.5 million for a plebiscite on Puerto Rico's political status.

Puerto Rico Gov. Alejandro García Padilla has proposed several changes to oversight of the island's electrical system partly aimed at lowering electricity prices to strengthen the economy.

Puerto Rico Gov. Alejandro García Padilla reached an accord with Puerto Rican mayors concerning cities' bank deposits and a municipal sales and use tax bond structure, key elements in his efforts to reduce the deficit and protect the island's investment grade credit rating.

Puerto Rico revenues in the first six months of the fiscal year were 2.1% ahead of expectations while spending in the first five months was 3.2% below expectations.

Puerto Rico general fund revenues jumped 26% in December from a year earlier. The increase was largely anticipated and beat budget projections by just 0.1%.

The Puerto Rico government is taking steps to shift up to $2.8 billion in public deposits from private banks to the government's bank, the Government Development Bank of Puerto Rico.

Municipal bond analysts are generally positive about Puerto Rico Gov. Alejandro García Padilla's first year in office, though they voice concern about the economy and access to the bond market.

The Puerto Rico government plans to sell long-term bonds by the end of February, government officials said Thursday.

Puerto Rico's population shrank by 1% in the year ending July 1, continuing a trend cited as a credit negative.

Puerto Rico's economic activity index was up for the third consecutive month in November.

The Puerto Rico Government Development Bank has sold $110 million in notes to a public corporation in a step to increase its liquidity.

Puerto Rican teachers' unions are preparing to go on strike to protest the reform of their retirement system signed by Gov. Alejandro García Padilla.

Puerto Rico is poised to adopt an overhaul of the teachers' pension system as the government defends the commonwealth's investment grade rating.

A Puerto Rico authority announced advisors for four projects under evaluation as priority P3 projects.

The unemployment rate in Puerto Rico was 14.7% in November, unchanged from October's unemployment rate.

The Puerto Rico House of Representatives approved an overhaul of the Teachers' Pension Reform on Saturday.

Moody's Investors Service put the bond ratings of the Puerto Rico Electric Power Authority and the University of Puerto Rico on a review for a downgrade.