Puerto Rico

Moody's Investors Service says a court ruling in favor of Puerto Rico government’s pension overhaul is a credit positive for the commonwealth.

Fitch Ratings downgraded the Puerto Rico Electric Power Authority's revenue bonds to BBB-minus from BBB-plus.

Puerto Rico Gov. Alejandro García Padilla signed a fiscal 2014 budget with a 7.9% operating deficit on Sunday.

The Puerto Rico government has approved new revenue for the Puerto Rico Highways and Transportation Authority.

The Puerto Rico Senate passed a budget addressing revenue needs for the Puerto Rico Highways and Transportation Authority.

Puerto Rico has not sold bonds recently but its bonds have been trading mixed on the secondary market.

Puerto Rico Gov. Alejandro García Padilla and legislative leaders have reached a new tax deal.

Standard & Poor's had dropped its rating on grant anticipation revenue bonds from the Puerto Rico Highway and Transportation Authority to A from A-plus.

Puerto Rico has disclosed that the U.S. Treasury is no longer skimming money from federal grant payments backing the commonwealth's Garvee bonds, a day after Moody's Investors Service placed the debt on notice for possible downgrade.

Moody's Investors Service has placed its A2 rating on the Puerto Rico Highways and Transportation Authority grant anticipation revenue bonds on review for a possible downgrade.

Puerto Rico's government is proposing lower rates for utilities that are rated junk or near junk, saying savings from fraud reduction, lower oil prices and other measures will make up for lost revenue.

In a move showing that Garvees, like Build America Bonds, are subject to the risk of federal offsets, the U.S. government has reduced transportation funds backing Puerto Rico's Garvees to make up for the Commonwealth's failure to pay money owed to a federal agency for river projects.

Despite overhauling its seriously underfunded pension system, Puerto Rico still faces myriad financial roadblocks, its new governor told investors Friday.

Puerto Rico's pension plan overhaul and Gov. Alejandro García Padilla's proposal to increase sales tax revenues are both credit positive, Moody's Investors Services said.

With some saying that the Puerto Rico Highways and Transportation Authority is teetering, muni market participants are wondering about its financial health.

The Puerto Rico Highways and Transportation Authority may default as soon as next week, El Nuevo Dia newspaper reports a Puerto Rico government official as saying.

Key Puerto Rico lawmakers in the governor's own party are saying they want changes to his proposed budget's revenue increases.

The Puerto Rico Government Development Bank, which provides loans to the U.S. territory's government and semi-autonomous authorities, is in a "fragile" position, the bank's president told legislators.

Morgan Stanley has hired former Puerto Rico Government Development Bank president Jorge Irizarry to attract public finance business in Puerto Rico.

Gov. Alejandro García Padilla is proposing an active role for the government in the commonwealth's economy.