Puerto Rico Highway & Transportation Authority

Municipals are little changed in early activity as the market gets ready to take on the biggest deal of the year — next week’s $4.5 billion Illinois general obligation bond offering.

Top-shelf municipal bonds were stronger at mid-session, according to traders, who are looking ahead to the next week's almost $10 billion new issue slate.

Moody’s downgraded $31 billion in Puerto Rico public sector bonds citing the reduced outlook for repayment.

Moody's has downgraded Puerto Rico's general obligation bonds to Ca from Caa3, due to the protracted economic and revenue disruptions caused by Hurricane Maria.

Puerto Rico faces a government shutdown after the end of the month without an infusion of cash.

The bond insurers withdrew their challenge of the island's fiscal plan, citing Hurricane Maria.

The Trump administration requested $12.77 billion in initial funding to help Texas, Florida, Puerto Rico and the U.S. Virgin Islands.

Puerto Rico’s debt cannot be canceled by order of the president, restructuring experts and a key congressman said.

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.

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

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.

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

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.

The judge in the Puerto Rico Title III bankruptcy cases is scheduled to weigh motions by Puerto Rico Electric Power Authority and Puerto Rico Sales Tax Finance Corp. (COFINA) bondholders at a hearing Wednesday.

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