Puerto Rico Sales Tax Financing Corp (COFINA)

Puerto Rico credit unions say that the disclosure fails to provide concrete numbers on how bonds will be restructured.

Christian Sobrino Vega, the commonwealth’s representative to the Puerto Rico Financial Oversight and Management Board, made clear in an interview with The Bond Buyer that the commonwealth has not and will not intermingle federal disaster aid with debt payments to the island’s bondholders.

The board wants to avoid invoking its power to force spending cuts to pay for the expected annual payment to government workers.

With COFINA and GDB deals moving forward, the Public Buildings Authority, Aqueduct and Sewer Authority, and University of Puerto Rico may be next in line.

Suggestive of possible near-term growth in issuance, municipal CUSIP requests rebounded in October.

Municipal bonds were stronger at mid-session as buyers await this week’s new issue supply.

While the $17.6 billion sale-tax bond restructuring advanced, a group holding more than $3 billion of Commonwealth bonds formed to help negotiate a comprehensive restructuring of that debt.

Muni activity is being tempered by this week’s election focus, market sources said.

The unsecured creditors gave conditional support to the biggest Puerto Rico debt restructuring.

The Virginia College Building Authority competitively sold almost $215 million of tax-exempt and taxable revenue bonds.

Unsecured creditors have said they are unsure if they will support the Puerto Rico sales tax bond restructuring.

The struggle between board and local government continues, as island leaders agree to a tax overhaul plan.

Three of four economic measures improved in September from August.

Statutes of limitation will be the main obstacle, observers say.

Municipal bond supply takes a leap forward next week as Chicago’s Sales Tax Securitization Corp.’s $1.31 billion deal headlines the new issue calendar.

Analysts are more optimistic about repayment but still dubious about local government cooperation.

Municipals remained stronger as Montgomery County, Maryland, came to market with a triple-A-rated sale.

The board continues to say that state metrics should be a guide to restructuring the island's central government debt to a much lower level.

Household survey is much more positive about total employment than establishment survey.

The Oversight Board and Gov. Rosselló remain at odds over pensions and labor reform.