Commonwealth of Puerto Rico

Puerto Rico-based creditors took steps Tuesday to oppose the two biggest proposed restructurings of the commonwealth's bonds.

The money is for post-Maria reconstruction costs.

The governor tells the judge it makes no sense to commence a process aimed at approving the plan without her support.

Elí Díaz Atienza will leave his posts as PRASA executive director and liaison to the oversight board later this month.

Having rejected a Puerto Rico Oversight Board request to dismiss the challenges to the restructuring because it would be extremely difficult to undo, a U.S. appeals court is about to entertain the board's arguments on the challenges' substance.

The total employment number slipped below one million in December, according to the U.S. Bureau of Labor Statistics.

Puerto Rico Bankruptcy Chief Mediator Barbara Houser said that the bankruptcy judge should rule on issues concerning "nonsecured creditors."

Deal offers up to 76% for Public Building Authority bonds but as little as 3% for $16B of bonds subordinated to the GO debt in Puerto Rico's constitution.

Recoveries would be from 65% to 77% for general obligation and Public Building Authority bondholders.

Puerto Rico’s nonvoting House representative said that President Trump has selected Coast Guard Rear Adm. Peter Brown to serve as disaster czar.

On Sunday Puerto Rico's governor said she would oppose rate increases to support the authority's debt restructuring.

The ERS bondholders' lien didn't survive the bankruptcy filing, the First Circuit Court of Appeals said.

An Oversight Board lawyer said that an announcement might be made in the next 30 days.

Puerto Rico's legislature may not want to approve what would effectively be an electricity rate increase, said analysts at a recent conference.

Issues surrounding revenue bonds may delay resolution on the central government debt.

The secondary market price has risen 40% since June 11.

The index increased in comparison to figures from a year and month earlier.

While the aid is for repairs following 2017's Hurricane Maria, some are particularly welcoming it now after earthquakes have shaken the southwest for two weeks.

Gov. Gavin Newsom sent the specialists to aid the commonwealth in rebuilding.

The bondholders appeal to the U.S. First Circuit Court in Boston.