Commonwealth of Puerto Rico

For one thing, analysts say general obligation bondholders may attempt to derail the plan in Title III bankruptcy court.

Puerto Rico issues rallied after the main parties reached a deal on the restructuring of Puerto Rico Sales Tax Financing Corp. bonds.

The Puerto Rico Oversight Board, the government of Gov. Ricardo Rosselló, COFINA senior bondholders’ representatives, COFINA subordinate bondholders’ representatives, and bond insurers agreed to the deal.

A draft of the plan in early July indicated that 71.3% of the funding was to come from the federal government.

The governor vowed to disobey Swain’s order, which he said would end Christmas bonuses or lead to "massive layoffs."

The market was quiet on Friday ahead of a $7.5 billion new issue calendar as more than $50 billion in August redemptions frees up cash to buy bonds.

Municipal bond buyers will get to see a larger than average new issue slate.

The board declined to say what the net impact on the central commonwealth government’s finances would be.

Christian Sobrino Vega takes over directorship of the agency in charge of debt restructuring from Gerardo Portelo Franco,

Puerto Rico issues rallied on a restructuring agreement for the power company, while municipal bond buyers saw some new supply head their way.

Puerto Rico issues rallied after reports the island’s electric company struck a debt restructuring agreement with its bondholders.

Puerto Rico has released three key reports since July 10.

“I realize the urgency of the situation,” U.S. District Court Judge Swain said at the end of the Title III bankruptcy hearing in San Juan.

Governance issues are likely to remain regardless of how Judge Laura Taylor Swain rules on Gov. Ricardo Rosselló's adversary complaint

It’s a big week for Puerto Rico with court action taking place on the island and Congressional hearings being held in D.C.

June's unemployment rate was the lowest monthly rate since at least 1975.

Members of Congress and market observers were divided over the ramifications of Friday's court opinion that the U.S. is liable for debt cuts mandated by the Oversight Board.

U.S. Court of Federal Claims Chief Judge Susan Braden carved a legal path for holding the federal government liable for cuts to Puerto Rico bonds.

The judge dismissed Aurelius' argument that the U.S. Constitution had prohibited the means used to appoint the oversight board members.

The board has claimed its policies must be followed to make money available for bond payments.