Puerto Rico

New Highways and Transportation Authority plan is more pessimistic about debt-service payment.

The local government's inertia and PROMESA's unwieldy structure, along with natural disasters and a global pandemic, have impeded Puerto Rico's recovery.

The move is part of the oversight board's efforts to free localities from dependence on the central government.

LUMA says its priority will be to improve the reliability and resilience of electricity on the island.

The Economic Development Bank for Puerto Rico estimate for economic activity for fiscal 2019 overall, though, was raised.

Employment, retail sales, and economic activity index data are all delayed.

Board says it has prevailed in past legal struggles with the local government.

Bondholders hope to negotiate a deal before July 15.

Municipalities are making draws on reserves as revenues fall due to the pandemic.

The board projects a 10.2% revenue surplus in the coming fiscal year.

The Puerto Rico Oversight Board say the HTA, PRIFA, and CCDA bondholders never gained liens on revenues.

The Supreme Court's decision will lead to federal consideration of who should serve on the Oversight Board for the next three-year term.

Although voters are dissatisfied with the current administration's response to three crises, turnout is expected to be light.

The high court unanimously ruled the Oversight Board members do not need to be confirmed by the U.S. Senate under the Constitution’s Appointments Clause.

Success can't be achieved unless the local government more actively pursues reform, sources say.

The board anticipates a $22 billion cumulative deficit through fiscal 2049.

The Unsecured Creditors Committee say that two factors make it clear the current restructuring deal will never be approved.

The commonwealth has been able to access less than 30% of the aid the federal government promised after the devastating 2017 hurricane.

The Puerto Rico Oversight Board and local government are being allowed to file additional replies concerning lift stay motions.

The Puerto Rico government attributes the decline to the COVID-19 virus and the governor's resulting lockdown order.