Puerto Rico

Two University of Puerto Rico professors predict Gov. Rosselló’s budget, due Wednesday, will lead to widespread militant actions.

Puerto Rico's claim raises an issue at the heart of the territory’s $74 billion bankruptcy.

President Trump’s proposed budget allocates Puerto Rico $1.24 billion more Medicaid spending than the federal government had promised.

Puerto Rico put its Highways and Transportation Authority and Employees Retirement System into bankruptcy affecting $9.5 billion of debt.

Puerto Rico’s April employment rose above 1 million for the first time since August 2013.

Analysts said investors' willingness to lend to Puerto Rico and other troubled entities may be ratcheting up risks for the muni market.

The first hearing of the Puerto Rico Title III case on Wednesday reinforced that the battle between general obligation and Puerto Rico Sales Tax Financing Corp. (COFINA) bondholders will be a central issue as the biggest municipal restructuring gets underway.

The cases will be jointly administered, meaning paperwork and other day-to-day matters will be consolidated, but will remain legally separate for now.

Puerto Rico’s debt reorganization hearings began with a decision by Judge Laura Taylor Swain to consolidate administration of two existing filings affecting about $30 billion of bonds.

The Government Development Bank for Puerto Rico reached a deal with its creditors to restructure its $4.1 billion in debts.