Puerto Rico

Municipal buyers will see a $5.3 billion new issue calendar next week, with the biggest deals coming out of Los Angeles.

The legislature faces a June 30 deadline for making labor law changes or the Oversight Board will impose a previously certified plan that includes reductions in employee benefits.

The sale and lease of assets could raise money to pay off the power authority's debt.

Without a centralized review, a series of fragmented studies could well create a quagmire for the bankruptcy court.

The territorial government's resistance to the labor law may prompt Oversight Board to approve its own version of the budget due this month.

Municipal bonds held firm on Monday ahead of the week’s two biggest deals on opposite ends of the credit spectrum.

Municipals were mostly stronger at mid-session, as the market waits for the start of the week’s moderately sized new issue calendar.

Municipal bond buyers are looking with anticipation at the week’s calendar and the arrival of a big California tobacco bond deal.

The April-approved fiscal plan had said just 39% of senior and senior subordinate bond debt would be paid in the next fiscal year.

Major Puerto Rico bondholders are balking at a tentative agreement that would steer to owners of sales-tax-backed debt a large chunk of the revenue they’ve been pledged, threatening to prolong a fight over one of the biggest issues in the island’s record-setting bankruptcy.