Puerto Rico

Investors are mindful of the lessons of Puerto Rico’s financial distress as they chase higher yields and the benefits of interest payments that aren’t taxable by the federal government or by any U.S. state or municipality.

Puerto Rico Gov. Ricardo Rosselló nominated experienced energy sector professional Ricardo Ramos to be the new executive director the Puerto Rico Electric Power Authority.

Rosselló made a request to extend the stay on debt-related lawsuits till the end of the year in his fiscal plan, released Wednesday, in a move that drew objections from bondholder groups.

Puerto Rico Gov. Ricardo Rosselló submitted a 10-year fiscal plan to the Oversight Board that would allow for annual debt payments of about 18% to 41% of debt due.

Puerto Rico Gov. Ricardo Rosselló said he would be handing in a 10-year fiscal plan that avoids cuts to essential government services.

Puerto Rico Electric Power Authority bondholders face greater uncertainty after the utility’s contract with the firm leading its restructuring efforts expired, Moody’s Investors Service said in a report Monday.

Resignations by nearly all of the leadership at the University of Puerto Rico in protest to budget cuts have heightened S&P Global Ratings’ concerns over the school’s debt challenges.

HJ Sims has announced it has expanded its Puerto Rico advisory team in Guaynabo by adding four new experts in its office in Guaynabo: Roberto Feria Cestero, Carlos Alvarado, Maria "Magie" Mena, and Adrian Fernandez.

Senior holders of Puerto Rico Sales Tax Financing Corp. (COFINA) bonds filed a motion Wednesday to become involved in a court case that pits their interests against those of the commonwealth’s general obligation bond holders.

The Puerto Rico General Fund collected 21% more net revenues in January than budgeted.