Puerto Rico

The Government Development Bank of Puerto Rico released a preliminary estimate of total revenues for fiscal year 2013 at $8.5 billion.

The United States senator who chairs the Senate committee overseeing Puerto Rico said Thursday the island has only two choices for its future: statehood or independence.

Puerto Rico expects to adopt a balanced budget in the next few years, according to José Pagán, the interim president of the Government Development Bank of Puerto Rico.

Puerto Rico plans to sell $600 million in Puerto Rico Electric Power Authority debt in mid-August, the commonwealth's first bond sale since last year.

The president of the Government Development Bank of Puerto Rico, Javier Ferrer, resigned, posing a new challenge to Gov. Alejandro García Padilla.

Puerto Rico Gov. Alejandro García Padilla, just past the halfway point in his first year in office, is touting his accomplishments – accomplishments that municipal analysts generally acknowledge.

The Puerto Rico Aqueduct and Sewer Authority board voted to increase water rates by 60% on Wednesday.

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.