Puerto Rico

The Puerto Rico Electric Authority bondholders said their loan offer to PREPA was a sincere offer to help and Puerto Rico’s government bitingly denounced it on Thursday and Friday.

Two key Puerto Rico Oversight Board members met with members of Congress Thursday and Friday.

Rep. Nydia Velázquez says Trump's 10-day waiver of Jones Act won't help Puerto Rico.

The proposal would benefit bondholders without helping PREPA rebuild the power grid, a government statement said.

Puerto Rico's power authority said it may take more than six months to restore electricity and there was a report that the Oversight Board was ready to revise the amount of debt to be paid in the next nine years.

The potential financial lifeline from investors holding $3 billion of the utility’s bonds would only be available if the authority agrees to repay a third of that debt for 85 cents on the dollar

The Title III bankruptcy case omnibus hearing has been indefinitely postponed.

Effort to help Puerto Rico hampered by logistics, such air traffic control system damage.

Hurricane Maria’s devastation of Puerto Rico is a credit negative for Assured Guaranty and National Public Finance Guarantee Corp., Moody’s Investors Service said.

The board approved the reallocation of $1 billion for emergency funding to recover from Hurricane Maria.