Puerto Rico Industrial Development Co

Most bondholders voted for the plan, which offers an upfront cash payment and the extension of bond maturities by 25 to 35 years.

Peterson objected to the board's treatment of PREPA bondholders.

The restructuring would make bondholders whole, but the bonds' maturities are being pushed out by 25 to 35 years.

Bondholders say they have lost patience after six years of nonpayment.

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.

FAFAA head says that Puerto Rico is gaining "credibility" with investors.

The deal continues to offer better recoveries for the guaranteed Public Building Authority debt than for general obligation debt, but trading of the GOs blew up with more than $180 million exchanging hands to higher prices.

He has a background working in the island's pharmaceutical industry and for the island's government working to attract and retain private sector firms.

Highways and Transportation Authority collections are also behind expectations.

The board projects a 10.2% revenue surplus in the coming fiscal year.

Puerto Rico-based creditors took steps Tuesday to oppose the two biggest proposed restructurings of the commonwealth's bonds.

The secondary market price has risen 40% since June 11.

The board letter's is one of the first signs of friction with Gov. Wanda Vázquez, who took office in August.

Separately, the island's economic activity index fell on a year-over-over basis for the fourth straight month.

San Juan's finances, given an F in the study of fiscal year 2017, became even worse in fiscal 2018.

Gov. Wanda Vázquez's bill aims to prevent the commonwealth from pursuing debt practices that have gotten it into trouble.

The mediator's report on almost $26 billion of bonds is now scheduled to be submitted on Nov. 27.

UBS, the underwriter facing more than $800 million in lawsuits over the pension system bonds, argued the proposed schedule won't give it enough input.

Lack of legislative cooperation wouldn't be a problem until after court-approval of a plan of a adjustment, observers said.