Puerto Rico Public Finance Corporation

The PFC bondholders are to get cash and some new appropriation-backed bonds.

The main bond classes appear to clear the two-thirds majority needed for a court endorsement.

A fight is brewing over whether the Oversight Board can preempt some of the territory's pension statutes.

While certain parties are making deals with the Oversight Board on the Plan of Adjustment, holdouts remain.

The Plan of Adjustment confirmation hearing will still begin on Nov. 8.

Judge Swain said she would rule on Sept. 30 on extending the Oct. 4 deadline for voting.

Puerto Rico's government tells the court the Disclosure Statement should address the likelihood the legislature will not approve new bonds for the plan of adjustment since the plan cuts pensions.

Assured Guaranty and National Public Finance Guarantee continue talks with the Puerto Rico Oversight Board.

Yield-starved investors will help the deal get done, despite credit risks and the island's bankruptcy overhang.

The board is searching the entire government and may find a far higher losses.

Employment, retail sales, and economic activity index data are all delayed.

The plan still faces formidable opposition from multiple parties.

The governor tells the judge it makes no sense to commence a process aimed at approving the plan without her support.

With a meeting on the restructuring set, bondholders were girding for battle over the board's plan to nullify portions of the debt.

Almost $25 billion of bonds would be affected, as Judge Laura Taylor Swain seeks to avert "chaos" of claims by bondholders.

The busts may weaken the the Rosselló administration as it struggles over fiscal policy with the Puerto Rico Oversight Board.

The board says more than $1.7 billion in revenue is at stake in fiscal years through 2024.

The overall recovery would be in the 36% to 38% range under its restructuring plan for $35 billion in bonds.

The Oversight Board called the deal to reduce cuts to retirees a "crucial step" toward restructuring $25 billion in bonds and loans.

He said the board has been inaccurate in its financial predictions and that he wouldn’t participate in any cuts to pensioner benefits.