Puerto Rico

Puerto Rico’s voters overwhelmingly voted on Sunday for the island to become a state in a vote the opposition chose to boycott.

Puerto Rico will likely need to fund government operations using sales-tax revenue claimed by warring factions of bondholders unless a legal dispute at the heart of the island’s bankruptcy is resolved by November.

Even though it is quite convenient to view events in Puerto Rico through the prism of a one-off, it is true that the Commonwealth and its agencies, authorities, and localities have been and continue to be part of this municipal market that we work in and invest in every day.

Puerto Rico’s government and Oversight Board have declined to say what debt service bondholders should expect in the coming fiscal year despite repeated inquiries.

Puerto Rico will hold a plebiscite on its political status Sunday, even though the U.S. Justice Department hasn't approved the wording of the measure.

S&P Global Ratings said it lowered its rating on Puerto Rico Sales Tax Financing Corp.'s (COFINA) senior sales tax bonds to D from CC on non-disbursement by the trustee of scheduled monthly interest payments due June 1, 2017, in compliance with an order of the U.S. District Court for the District of Puerto Rico.

How the Puerto Rico’s Title III bankruptcy case judge handles the commonwealth’s highways bonds may threaten revenue bond bankruptcy precedent.

Assured Guaranty, National Public Finance Guarantee, and Financial Guaranty Insurance Co. challenged diversion of special revenue bond collateral that secures $4.1 billion of Puerto Rico Highways and Transportation Authority bonds.

Puerto Rico’s April economic activity index fell 2% in April from a year earlier, signaling continued weakness as the island government embarks on its record breaking municipal debt restructuring.

Puerto Rico's governor presented a fiscal 2018 budget that allots at least $2.04 billion for pensions and nothing for debt.