In record time since taking office, Puerto Rico Gov. Luis Fortuño yesterday signed legislation to help the commonwealth close its $3.2 billion deficit after lawmakers approved the measures at the start of the legislative session on Tuesday.

Administration officials worked on the financing bills over the weekend so that lawmakers could vote on the initiatives in their first day back in session. That speed is due in large part to the new governor's political party.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.