Puerto Rico

Puerto Rico’s creditors may be headed to court after the territory's representatives refused to budge from a fiscal plan limiting debt payment to 24% of the amount due.

When Congress passed the PROMESA last summer, it created a roadmap to address the island’s $70 billion debt crisis and revitalize its economy. The impact of the law now bears watching for millions of Americans living in debt-ridden municipalities and states.

The territory’s government is rushing to rewrite statehood plebiscite language rejected by U.S. Department of Justice.

Puerto Rico bondholders at a meeting Thursday sought substantially better terms from the Puerto Rico Oversight Board and government.

Four investment funds holding COFINA senior bonds are claiming Bank of New York Mellon breached its duties as trustee.

A Puerto Rico judge has revived an “audit” of Puerto Rico’s debt.

The new PREPA deal would force un-insured bondholders to accept a loss of principal, unlike the previous deal, which allowed retention of bonds at face value.

Two senators have asked Puerto Rico's oversight board to show it is following PROMESA.

In this week's Muni Minute, we examine Puerto Rico's debt restructuring negotiations, which are scheduled to begin this week... if the bondholders show up.

Assured Guaranty Corp. formally requested that the Puerto Rico Oversight Board revoke certification of the 10-year fiscal plan on the grounds of material non-compliance with Puerto Rico Oversight Management and Economic Stability Act.