Government Development Bank for Puerto Rico

Ahead of the FOMC monetary policy meeting and quarter end wrapup, a slim supply slate awaits muni buyers.

Bankruptcy Judge Laura Taylor Swain still has to rule on two other Unsecured Creditors Committee challenges.

The committee is holding a public hearing on its report on the causes of the debt crisis on Sept. 18 in San Juan.

Municipal bond traders will see a healthy new issue calendar hit the market next week.

The Unsecured Creditors Committee continued an effort to change the deal in a hearing on Thursday.

They are also trying to take over representation of the Puerto Rico authorities in Government Development Bank debt restructuring.

The unsecured creditors say that the deal treats the island’s government authorities in Title III bankruptcy unfairly.

The committee will review claims stemming from a 608-page report on the history of Puerto Rico's debt problem.

Since Puerto Rico formally filed the deal in court on Aug. 10, 13 parties have filed either court challenges or notices of intent to challenge the deal.

The deadline for voting is 5 p.m. on Sept. 12.

The territorial government's resistance to the labor law may prompt Oversight Board to approve its own version of the budget due this month.

Magistrate Judge Judith Dein said she'd take up the investigation issue at a June 18 hearing.

The bankuptcy court will hear a motion Wednesday to allow the probe, which could undercut billions of dollars in bondholder claims.

The disagreement over at-will employment is the latest episode on a struggle over policy measures intended to pull the territory out of recession and help in payment of its debt.

Investors, already frustrated with the lack of progress since PROMESA was passed, face at least another two years before most debt payments will resume.

The Oversight Board's executive director said the budget's future is linked to government introduction of at-will employment law.

The board gave up on plan to reduce paid vacation and sick time and eliminate Christmas bonuses, but gained a promise of island-wide at-will employment.

The decline in the unemployment rate is mostly due to emigration, a challenge as the territory restructures its debt.

April’s General Fund collection was 15.7% higher than that of April 2017.

The consensual plan for $4.2 billion of Government Development Bank bonds amounts to repayment of 55 cents on the dollar.