A bankruptcy judge’s ruling concerning the Puerto Rico Highways and Transportation Authority has ramifications for bonds far beyond those of the authority, analysts say.

Title III bankruptcy Judge Laura Taylor Swain issued her ruling Friday in the Title III case and in a related adversary proceedings filed by Peaje Investments LLC. She denied Peaje’s motion for a preliminary injunction and for relief from the Puerto Rico Oversight, Management and Economic Stability Act’s stay on debt litigation.

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