Puerto Rico Sales Tax Financing Corp (COFINA)

Investors, already frustrated with the lack of progress since PROMESA was passed, face at least another two years before most debt payments will resume.

Judge said that the relevant issues include federal as well as local law.

The Oversight Board's executive director said the budget's future is linked to government introduction of at-will employment law.

Magistrate Judge Judith Dein's decision may help creditors in their battle over the territory's fiscal plan and debt payments.

The board gave up on plan to reduce paid vacation and sick time and eliminate Christmas bonuses, but gained a promise of island-wide at-will employment.

Municipal volume will sink to $6.36 billion, with the California issuer responsible for a third of the week’s paper.

The decline in the unemployment rate is mostly due to emigration, a challenge as the territory restructures its debt.

Municipal bond volume slips back down to a more average level next week, after the market saw the biggest slate of the year hit the screens this week.

April’s General Fund collection was 15.7% higher than that of April 2017.

The effort by bondholders to work together is seen as a "positive development," though their plan was quickly rejected by the government.