Assurances of fiscal stability and continuing debt service coverage followed a 19-count indictment against Puerto Rico Gov. Anibal Acevedo Vila yesterday, while the municipal bond community wondered how the charges - which include wire fraud and conspiracy - will affect the island's $1 billion structural deficit and its budgetary process.

Along with the first-term governor, 12 other individuals were charged by the U.S. Department of Justice in the 27-count indictment that involves suspected false statements, wire fraud, tax crimes, federal program fraud, and conspiracy related to Acevedo Vila's campaigns for resident commissioner, the island's non-voting congressional representative, and his 2004 gubernatorial campaign.

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