Puerto Rico

Puerto Rico's power authority won plaudits for attracting bids for its grid and scrapping a potentially costly gas plant.

The Oversight Board expressed skepticism as to whether the tax reform measures are consistent with the certified fiscal plan.

Judges at a hearing this week appeared sympathetic to arguments that the board's appointment was unconstitutional.

The board suggests it may sue the governor unless he starts following its requests.

The Oversight Board’s pessimistic assumptions add unnecessary confusion and complexity to achieving consensual negotiations with the island’s creditors.

As of mid-November Puerto Rico's government had an equivalent of 41% of its annual General Fund budget in its central Treasury account.

U.S. Senators privately urged board to privatize PREPA, a review of emails found.

Three of the four index components declined from September.

The transaction will restructure about $4 billion of Government Development Bank debt.

Rep. Rob Bishop wants a simple up or down vote on statehood.

One Puerto Rico Oversight Board member said that approving the COFINA deal was the board's safest choice.

Puerto Rico credit unions say that the disclosure fails to provide concrete numbers on how bonds will be restructured.

Christian Sobrino Vega, the commonwealth’s representative to the Puerto Rico Financial Oversight and Management Board, made clear in an interview with The Bond Buyer that the commonwealth has not and will not intermingle federal disaster aid with debt payments to the island’s bondholders.

The board wants to avoid invoking its power to force spending cuts to pay for the expected annual payment to government workers.

With COFINA and GDB deals moving forward, the Public Buildings Authority, Aqueduct and Sewer Authority, and University of Puerto Rico may be next in line.

While the $17.6 billion sale-tax bond restructuring advanced, a group holding more than $3 billion of Commonwealth bonds formed to help negotiate a comprehensive restructuring of that debt.

The bill would require that new owners respect existing labor contracts and pensions.

The unsecured creditors gave conditional support to the biggest Puerto Rico debt restructuring.

Puerto Rico governor says that the board's objections are unfair or inaccurate.

Puerto Rico granted $521 million in tax credits over the last seven months.