Puerto Rico

German Ramirez of HJ Sims talks from Puerto Rico about the situation on the island, and discusses PREPA, the Commonwealth’s fiscal plan, the future of public-private alliances and what it all means for bondholders. Chip Barnett hosts.

Matosantos' ownership of renewable energy businesses on the island is said to conflict with responsibility overseeing PREPA.

General obligation holders said that the sales taxes supporting COFINA are resources that the territory's constitution promises to them.

Eleven states and five cities will also receive a share of the CDBG disaster grants, with the biggest amount of $4.7 billion going to Texas for the damage caused by Hurricane Harvey.

People involved in the $3.5 billion sale received notices that there would be no enforcement action.

The board may choose to approve its own version of the plan by April 20, setting up a legal and political fight for control of the Puerto Rico government.

The vote came as Gov. Rossello said his fiscal plan will not accede to board demands.

Rosselló says that Rep. Rob Bishop is placing the needs of the bondholders over those of Puerto Rico residents.

Other Puerto Rico officials joined Gov. Ricardo Rosselló in resisting the board's demands for austerity

Natural Resources Committee Chairman Rob Bishop complained that "intentional misinterpretations" of the "PROMESA" law may mean U.S. promises to Puerto Rico will take "decades" to fulfill.