Puerto Rico

A poverty level three times the national average leaves Puerto Rico especially vulnerable if service cuts and tax increases go too far. Part III of a five-part series.

Economists point to past successes and failures as Puerto Rico's Oversight Board focuses on conservative approaches. Part II of a five-part series.

The Oversight Board is following a belt-tightening strategy that some economists warn may squelch economic growth, putting bonds back into restructuring. Part I of a five-part series.

Puerto Rico, with more than $70 billion of bonds at stake, has become a testing ground of austerity for an economy in decline.

The index gained 0.4% year-over-year in October.

Swain insists that holders of 2012 and 2014 bonds, which have been challenged as illegal, be given litigation notice.

The Nov. 22 notice opened a 30 day window for the issuer to make a case that $877.9 million of bonds not be stripped of their tax-advantaged status.

Fitch raised PRASA bonds to CC from C even amid indications that the utility is discussing restructuring its debt.

The $10.2 billion is designated for long-term mitigation work to prevent a future recurrence of the damage and to make electrical grid improvements that will withstand future storms.

Bankruptcy mediator Barbara Houser recommends litigation over $22 billion in bonds should resume in January and February.

The board letter's is one of the first signs of friction with Gov. Wanda Vázquez, who took office in August.

Separately, the island's economic activity index fell on a year-over-over basis for the fourth straight month.

The motion is part of the bondholders' attack on a plan to give them 15 cents on the dollar.

San Juan's finances, given an F in the study of fiscal year 2017, became even worse in fiscal 2018.

Five Republican representatives asked three Democrats to withdraw their legal brief opposing the agreement.

The territory needs $1.3 billion to $2.3 billion of investment beyond the current level to support growth and competitiveness.

Gov. Wanda Vázquez's bill aims to prevent the commonwealth from pursuing debt practices that have gotten it into trouble.

The website aims to provide information about the restructured bonds and to advertise them as creditworthy.

Muni bankruptcy expert James Spiotto told lawmakers that replacing debt restructuring with debt cancellation has no rationale or justification.

Puerto Rico Gov. Wanda Vázquez's misgivings about rate increases threaten to upend the $8 billion restructuring plan, a lawyer for unsecured creditors told the bankruptcy court.