Puerto Rico Highway & Transportation Authority

Economists in Puerto Rico panned the proposal to raise the rate to $9 per hour saying it would hurt businesses.

The board set a noon Thursday deadline for repeal of Act 7, otherwise it will seek a legal remedy.

Puerto Rico's government tells the court the Disclosure Statement should address the likelihood the legislature will not approve new bonds for the plan of adjustment since the plan cuts pensions.

The board plans to pick an operator for PREPA's electrical generation in second half of this year.

The Board will address several of Puerto Rico's authorities' fiscal plans and will have an update about PREPA's transition of its systems to the private operator, LUMA Energy.

While its budget does not include debt service, the executive director said she anticipated amending it in the coming fiscal year once the plan of adjustment is finalized.

Long-term economic stability is not sustainable, economists say, after federal aid dries up.

The board also submitted an amended plan of adjustment and disclosure statement for the central government bond deal.

The board is also considering a measure the House passed to undo board-supported labor reforms.

Assured Guaranty and National Public Finance Guarantee gave their support to Highways and Transportation Authority and Convention Center District Authority revenue bond deals affecting $4.6 billion, solidifing their support for the central government deal.

Observers say it is the beginning of the end of the central government bankruptcy.

Judge Laura Taylor Swain says they can be dealt with in the process of confirming the central government plan of adjustment.

While the 2020 number was down from the 2010 figure, it was still almost 10% greater than the Puerto Rico Oversight Board's estimate.

After statehood, Puerto Rico's legacy bonds would likely retain their current status, but analysts are mixed on how the market would receive new debt.

If sales and use tax revenues surpass May 2020 expectations, some bondholders would see increased payments.

They say the bankruptcy judge should delay ruling on the relative priority of Puerto Rico's bonds until she deals with the central government plan of adjustment.

Assured Guaranty and National Public Finance Guarantee reached a deal with the Oversight Board on repayment of $4.6 billion of revenue bonds.

The board also extended the deadline for two bond insurers to withdraw from the central government bond Plan Support Agreement.

Net revenues came in 21.6% ahead of Puerto Rico Oversight Board projections in the first seven months of the fiscal year.

Assured Guaranty and National Public Finance Guarantee continue talks with the Puerto Rico Oversight Board.