Puerto Rico Highway & Transportation Authority

The board sent mixed signals on a possibility of deal with legislature on pension cuts.

The local government is trying to apply pressure on the board to get its way on the Plan of Adjustment.

Judge Swain rejected the governor's request to stay the board's suit until November.

The local planning board is more optimistic about the next 10 years of Gross National Product growth than is the Oversight Board.

Pierluisi filed a request to stay the adversary proceeding in late August. Since then, the board and Puerto Rico House and Senate leaders told the court they oppose the stay.

The governor is asking for a stay until the court decides on the Plan of Adjustment.

Federal benefits for Child Tax Credits will also be expanded.

Both board members and government officials reiterated their stances on cuts to public pensions — for and against — but neither party said agreements had been reached during the meeting.

Island employment was up overall from 2020 figures.

The underestimate came as the board was concerned about the impact of COVID-19 on the island's economy.

Even if the Oversight Board can legally approve new debt for the deal, some market participants say the future "willingness to pay" is the larger consideration.

The board will say it has treated the creditors fairly, it meets the 'best interest' test for debtors, and its plan preempts dozens of local laws.

Revenues were also ahead through the first 11 months of fiscal 2021.

Bankruptcy Judge Swain conditionally approved the Disclosure Statement, moving the Plan of Adjustment closer to a vote, but questions remain on how new bonds for the deal will be resolved.

The Oversight Board reached the deal with Ambac Assurance and Financial Guaranty Insurance Company on PRIFA rum tax bonds. The two insurers had been important holdouts from the central government debt deal.

While the truckers returned to work Thursday night, their union said board interference could lead to a renewed strike.

The economic impact of the strike will depend on how long it lasts and how many truckers stick with it.

The Oversight Board filed a suit against a new law that contradicts certain provisions in the plan of adjustment. Gov. Pierluisi says the litigation is not necessary.

The $10.1 billion General Fund focuses on operational improvements, Medicaid reform, and enhancing tax compliance.

Board says all the objections to disclosure statements are without legal merit or should be addressed at the plan of adjustment confirmation.