Puerto Rico

With a meeting on the restructuring set, bondholders were girding for battle over the board's plan to nullify portions of the debt.

Moody's action followed Fitch putting the authority on ratings watch negative on Friday.

Managing Director, Miller Buckfire & Co.

The household employment survey showed good economic news, while other measures were mixed.

The islands' representative to Congress called for the local government to declare an emergency, possibly affecting $633 million of WAPA debt.

Amending the law that established an oversight board for restructuring Puerto Rico’s debt looks like a tall order.

The gain was led by a 53% jump in revenue from the Act 154 excise tax, which is due to be phased out.

The proposed change would create a hurricane reconstruction coordinator. an audit of the island’s debt, and federal funding for the Oversight Board.

Treasury Secretary Steve Mnuchin said Puerto Rico will have to look for an alternative to the Act 154 tax.

Lawyers say relations between the governor and the Oversight Board have improved with the new governor.