Puerto Rico Aqueduct & Sewer Authority

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."

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.

The Puerto Rico Oversight Board announced it was planning an investigation of the island’s public sector debt.

Puerto Rico’s voters overwhelmingly voted on Sunday for the island to become a state in a vote the opposition chose to boycott.

Goldman Sachs opened the first of a two-day retail order period for the Hudson Yards Infrastructure Corp., N.Y.’s $2.15 billion tax-exempt deal as municipal bonds were unchanged ahead of next week's $7.02 billion calendar.

The municipal bond market on Friday will be looking ahead to next week’s new issue calendar as participants eye falling bond yields. The largest deal of the upcoming week is from the Hudson Yards Infrastructure Corp. will offer $2.19 billion of second indenture revenue bonds.

Municipal bonds were stronger at mid-session, according to traders, who were looking ahead to next week’s still healthy new issue calendar, which is estimated at $8.79 billion.

The Puerto Rico Oversight Board’s Title III cases got new case numbers on Thursday.

Fitch Ratings said it has downgraded Puerto Rico Aqueduct and Sewer Authority bonds to C from CC.