Puerto Rico Industrial Development Co

The delay of $220 million of pension savings is the latest "upsetting piece of news for bondholders."

The anticipated surplus for fiscal years 2019 through 2013 has dropped to $11.6 billion from $15.1 billion, leaving less money for debt service and capital spending.

The plan continues a cut to the pension system found in earlier versions.

New expectations for disaster funding, gross national product growth rates, and population may change projections of money for debt.

January revenue beat the original budget projection by 36%, raising hopes that there will be more money to pay bondholders as the island's debt is restructured.

The board acknowledged Puerto Rico is in compliance with the fiscal 2019 budget, even as it wrangles with the local government over next year's plan.

The Board's authority to certify fiscal plans has become a flashpoint in an escalating battle with Puerto Rico's government.

The General Obligation group's lawyer says the board should focus on structural reforms and not legal challenges to bondholder claims.

While the board is also seeking high court review, its goals are opposite of those of the union.

Puerto Rico Oversight Board says it can achieve much but not all of its pension restructuring plans without the local government's assistance.

The electrical workers union wants the court to undo the board's actions since Aug. 7, 2017, in addition to declaring the board's appointments unconstitutional.

Governor's representative complains that the expenditures were legally adopted.

The board said that the Senate is withholding bank account information.

Attorneys say the Oversight Board's move to nullify $6 billion of bonds would violate both federal Supreme Court rulings and local law.

An estimated $1.6 billion may flow to COFINA bond holders within weeks following Monday's approval of the muni market's biggest-ever plan of adjustment.

Laura Taylor Swain indicated she liked the procedures proposed by the Oversight Board and Unsecured Creditors Committee.

Raúl Maldonado Gautier will gain direct control of all monetary issues in the commonwealth's government.

Teresita Fuentes has been in the position for six months.

One economist attributes the decline to the reduced flow of federal hurricane aid.

Judge Laura Taylor Swain elicited little discussion of the substantive objections to the proposed settlement and plan of adjustment for $17.6 billion of bonds.