Commonwealth of Puerto Rico

Municipal bonds were weaker at mid-session, according to traders, who are looking ahead to the next week's $10 billion new issue slate, which will be dominated by Illinois's $4.5 billion general obligation bond offering.

Municipals are little changed in early activity as the market gets ready to take on the biggest deal of the year — next week’s $4.5 billion Illinois general obligation bond offering.

Six projects announced this week may lead to $300 million to $400 million of investment.

Municipal bond analysts cite the lack of clarity on the island’s economic future, the level of federal aid after two hurricanes, and the Title III bankruptcy process.

Puerto Rico Gov. Rosselló pledged to have electrical service back in less than half the time than had been predicted in late September.

Top-shelf municipal bonds were stronger at mid-session, according to traders, who are looking ahead to the next week's almost $10 billion new issue slate.

Moody’s downgraded $31 billion in Puerto Rico public sector bonds citing the reduced outlook for repayment.

Moody's has downgraded Puerto Rico's general obligation bonds to Ca from Caa3, due to the protracted economic and revenue disruptions caused by Hurricane Maria.

Puerto Rico faces a government shutdown after the end of the month without an infusion of cash.

The bond insurers withdrew their challenge of the island's fiscal plan, citing Hurricane Maria.

The Government Accountability Office sees big challenges for three U.S. territories.

The Trump administration requested $12.77 billion in initial funding to help Texas, Florida, Puerto Rico and the U.S. Virgin Islands.

Top-rated municipals ended mixed on Thursday, according to traders, who spent much of the day looking at Puerto Rico debt, which was recovering from sharp losses the previous day.

Puerto Rico’s debt cannot be canceled by order of the president, restructuring experts and a key congressman said.

Puerto Rico bonds plunged on Wednesday after President Donald Trump suggested the commonwealth’s debt needed to be “wiped out” to help the island recover from the devastation caused by Hurricane Maria.

Puerto Rico bonds took a big hit on Wednesday after President Donald Trump suggested the commonwealth’s debt needed to be “wiped out” to help the island recover from the devastation caused by Hurricane Maria.

Puerto Rico’s general obligation bonds maturing in 2035 have lost a fifth of their value in secondary trading on concern over the economic impact of the storm.

The board says it will postpone any discussion of furloughs until the next fiscal year.

Two key Puerto Rico Oversight Board members met with members of Congress Thursday and Friday.

Puerto Rico's power authority said it may take more than six months to restore electricity and there was a report that the Oversight Board was ready to revise the amount of debt to be paid in the next nine years.