Puerto Rico Highway & Transportation Authority

HJ Sims Managing Director German Ramirez and Senior Vice President Richard Prann focus in on the latest developments in Puerto Rico. They talk about what’s been happening with PREPA, COFINA and the GDB -- and discuss implications this may have for bondholders. Chip Barnett hosts.

Judges at a hearing this week appeared sympathetic to arguments that the board's appointment was unconstitutional.

The board suggests it may sue the governor unless he starts following its requests.

Three of the four index components declined from September.

Rep. Rob Bishop wants a simple up or down vote on statehood.

With COFINA and GDB deals moving forward, the Public Buildings Authority, Aqueduct and Sewer Authority, and University of Puerto Rico may be next in line.

The unsecured creditors gave conditional support to the biggest Puerto Rico debt restructuring.

Puerto Rico governor says that the board's objections are unfair or inaccurate.

Three of four economic measures improved in September from August.

Statutes of limitation will be the main obstacle, observers say.

The judge's record so far suggests a pattern that may encourage further appeals in the biggest U.S. municipal bankruptcy.

Its estimates are more pessimistic than the Oversight Board’s projections of island gross domestic product.

Island residents would recover up to 50% of the value of their losses.

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

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.

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.

Judge Laura Taylor Swain sided with the retired employees, saying the bondholders' security interest was not properly perfected.

The board declined to say what the net impact on the central commonwealth government’s finances would be.