Puerto Rico

The Puerto Rico Oversight Board asked Gov. Ricardo Rosselló to change three fiscal plans.

Such a loan would be legal and would offer the best terms available to the utility, the board said in a court filing.

Municipal bankruptcy expert James Spiotto said courts have ordered that special revenue bonds be paid in midst of bankruptcy.

Laura Taylor Swain ruled that holding a lien isn't enough at this time to require ordering bond payments be made.

The bill will help the government avoid an island-wide blackout that could result from a PREPA shortfall.

Another week of modest muni volume is expected, as issuers offer more chunks of taxable bonds.

The post-hurricane fiscal plan assumes that Puerto Rico will get a substantial amount of federal aid, but doesn’t include it in its calculation of available resources.

The Democrats' draft bill would be "a great way to make sure that no U.S. territory ever borrows in the muni market again," said Municipal Market Analytics' Matt Fabian.

Puerto Rico is arranging a loan to avoid blackout.

Gov. Ricardo Rosselló's plan to find private investors for Puerto Rico's power utility faces opposition from local leaders and may prove to be a tough sell to potential investors.