Puerto Rico

Many Puerto Rico legislators want the governor to cut PREPA's debt by 75% before they will support his spending measure.

The Oversight Board said the budget reflects a "constrained operating environment."

Changing federal policies toward hurricane aid may change these events' credit impacts.

A board member and Gov. Pedro Pierluisi expressed disappointment about the inability of the board and the government to come to a consensus budget.

This is the third deadline extension for PREPA mediation.

Puerto Rico-based Ocean Capital is trying to gain control of several local tax-free income funds by electing members to the funds' board of directors, but current board members have refused to give up their seats.

Bondholders contest Puerto Rico Oversight Board's claim that parties are engaging constructively in mediation.

Unsecured Creditors Committee attorney Luc Despins, said, “After five years, the results are in: the strategy has gone nowhere.” 

Bankruptcy judge set deadlines for voting on the Highways and Transportation Authority plan of adjustment, moving it closer to confirmation.

The judge set May 2 deadline that was extended until June 1 and then July 1. Mediators now want until Aug. 1.

An appeals court ruled the Oversight Board can stop laws that are inconsistent with PROMESA's purpose.

The Oversight Board has issues with the joint resolution.

The bill, which would overturn a 2017 law, is awaiting Gov. Pedro Pierluisi's signature to become law.

Analysts uncertain about the timing and cost savings as FAFAA names syndicate for possible refunding.

A survey shows local business owners are more pessimistic than they were six months ago.

The board and its law firm O'Neil & Borges clashed with challenger Carlos Lamoutte in court papers.

The board continues to struggle with the local government on fiscal matters six years after PROMESA's passage.

Some observers of Puerto Rico politics are concerned its government continues to avoid fiscal responsibility, ignoring past mistakes that led to the bankruptcy.

The Bankruptcy Judge extended the deadline for PREPA debt negotiations to July 1 and bondholders expressed frustrations, warning they may seek full repayment if a deal is not made.

All parties except for the Unsecured Creditors Committee support the extension.