Puerto Rico

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.

U.S. lawmakers want Puerto Rico board to focus on economic growth and freeze debt service payments.

The Puerto Rico Oversight Board’s Title III cases got new case numbers on Thursday.

The COFINA bond trustee declared a default and COFINA Senior holders called for payments to COFINA Subordinate holders to end.

Puerto Rico and its creditors are set to meet for the first time in court on May 17 in San Juan before U.S. District Judge Laura Taylor Swain to begin restructuring the island’s debt.

Illinois lacks a path to restructure state debt but Puerto Rico's filing heightened chatter.