Puerto Rico

The bondholders charge bad faith in negotiations and want no plan employed until all appeals are exhausted.

Assured Guaranty's attorney argued the judge's procedure to estimate the bondholders' claim should assume the Oversight Board would not exist.

Judge Laura Taylor Swain seemed sympathetic to putting a time limit on the bondholders' claim.

The electrical generator provides about 21% of the Puerto Rico Electric Power Authority's electricity and the default's impact on PREPA and PREPA's bankruptcy remain to be seen.

The judge limits legal arguments to six topics.

A consensual plan of adjustment is unlikely to be reached, according to one observer.

Puerto Rico must take additional steps to be able to regain market access, they said.

The exchange-traded fund — the first ever triple tax-exempt — will consist of 80% Puerto Rico bonds with the balance being U.S. Virgin Islands and Guam bonds.

Dismissal would ease approval of a the current proposed plan of adjustment.

Included in the plan is a $545 million for a loan to the Puerto Rico Electric Power Authority and more money for the government's emergency reserve.