U.S. Virgin Islands

Governor says federal help is an unprecedented opportunity to improve the islands' infrastructure, economy and government revenues.

Eleven states and five cities will also receive a share of the CDBG disaster grants, with the biggest amount of $4.7 billion going to Texas for the damage caused by Hurricane Harvey.

The three islands of the USVI have received more than $1 billion in federal disaster assistance through March 27, according to FEMA spokesman Manuel Broussard.

Puerto Rico's default is generating concern over mainland special revenue bonds and distressed issuers, and undercutting confidence in municipal credit nationwide.

The Virgin Islands pension system is seeking a court order for the government to pay at least $213 million allegedly owed to the system.

Moody's says the decision is another sign of fiscal stress.

The island's future will depend on external aid, the amount of emigration, and internal reforms, economist Jason Bram found.

The Virgin Islands would create a matching funds rum tax bond to be sold to the U.S. Treasury.

The U.S. Virgin Islands' rebuilding efforts make its Gross Receipts Revenue Bonds more secure, Gov. Kenneth Mapp said.

Bond investors’ concerns about the territory's ability to make payments have grown since Hurricane Maria.