Commonwealth of Puerto Rico

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.

Hurricane Maria’s devastation of Puerto Rico is a credit negative for Assured Guaranty and National Public Finance Guarantee Corp., Moody’s Investors Service said.

The board approved the reallocation of $1 billion for emergency funding to recover from Hurricane Maria.

Puerto Rico Oversight Board executive director Natalie Jaresko told The Bond Buyer the commonwealth might also pay some of its debt later this year.

The increase in median income may be connected to emigration from the island.

Kobre & Kim will assist in the board's investigation of Puerto Rico’s debt.

One lawyer called the bankruptcy judge’s ruling a "victory in the Oversight Board's effort to destroy all bondholder liens in Puerto Rico."

Puerto Rico government representatives told the Title III bankruptcy judge that sales and use tax revenues used for paying Puerto Rico Sales Tax Corp. (COFINA) bonds belong to the commonwealth.

Lower-rated issuers like Puerto Rico have been slower to rebound from past natural disasters, municipal analysts said.

A U.S. district court on Tuesday rejected that bond insurer Ambac Financial was liable for allegedly overly optimistic and misleading statements it had made about its insured Puerto Rico bonds.

Puerto Rico Title III bankruptcy judge Laura Taylor Swain has decided to address the dispute between Puerto Rico and the Puerto Rico Sales Tax Financing Corp. bondholders prior to other Title III matters.

Activists protested what they called Aurelius Capital Management’s support for austerity in Puerto Rico.

The Puerto Rico Oversight Board’s clash with Gov. Ricardo Rosselló escalated as the panel said one of his government's new healthcare laws may be too expensive.

The Puerto Rico Oversight Board filed an adversary complaint for declaratory and injunctive relief to force cost-saving measures.

Puerto Rico Gov. Ricardo Rosselló signed a negotiated debt restructuring deal for the Government Development Bank Thursday, affecting $4.1 billion in bond debt.

Puerto Rico will get at least $112 million from the federal government for road projects starting this fall.

Title III bankruptcy judge Laura Taylor Swain approved hiring Phoenix Management Services LLC as financial advisor for the mediation process.

Puerto Rico’s July revenues were above budget partly because of unexpectedly high non-resident withholding inflow.