Puerto Rico

Ambac and FGIC filed motions in support of the Puerto Rico Oversight Board's effort to declare illegal $6 billion of the commonwealth's bonds.

The firms are saying they shouldn't have to participate in the disclosure, which could lead to a clawback of bond payments.

Municipal supply will slip in the holiday-shortened trading week, but that doesn't mean there won't be things to watch for in the market.

Four California and Chicago school districts are among issuers to earn negative outlooks in Fitch revisions after a ruling in Puerto Rico's bankruptcy.

One group of GO holders says that pre-fiscal 2012 guaranteed debt should have higher priority for repayment than the newer bonds.

Assured Guaranty indicated it is interested in reaching a deal on PREPA bonds rather than continuing its quest for a PREPA receiver.

A fourth audit in two months fuels the perception that the IRS has launched an enforcement initiative involving the island territory.

The proposed 2020 budget has $139 million for the payment of debt.

The step is said to be unprecedented in the history of Chapter 9 bankruptcy.

Twenty-three members of Congress are urging the Oversight Board to pull back the bonds' underwriting and other fees.