Puerto Rico

Creditor groups have come down on both sides of a hedge fund's constitutional attack on the PROMESA oversight board.

The PREPA bondholder group’s consultant estimated it will cost less than $1 billion to repair the power grid, compared with initial reports of about $5 billion.

The largest municipal bond insurer said third-quarter net income fell 57% due to an increase in loss reserves for Puerto Rico hurricane damage.

Restoring electrical service as quickly as possible is a key to reviving the island’s economy.

The Puerto Rico Oversight Board plans to shorten its fiscal plans to five years from 10 while still seeking structural balance,

The Puerto Rico Oversight Board will discuss revising the commonwealth government’s and its semi-autonomous entities’ fiscal plans Tuesday morning.

Puerto Rico plans to cancel a $300 million contract to rebuild the hurricane-ravaged electrical grid that went to a tiny company based in Interior Secretary Ryan Zinke’s Montana hometown, the head of the island’s power utility said.

The Federal Emergency Management Agency said it has "significant concerns with how PREPA procured this contract and has not confirmed whether the contract prices are reasonable.”

Gov. Ricardo Rosselló called the board’s appointment of Noel Zamot illegal and said the Puerto Rico government would challenge it.

Judge Laura Taylor Swain promised to release Wednesday a consensus-based order on the legal status of Puerto Rico’s post-hurricane federal aid.