Puerto Rico

Puerto Rico’s economic activity index rose 0.2% in August from July, its second straight month-over-month increase.

A Puerto Rico government commission report raised concerns over debt-service coverage, illegalities, disclosures and accounting issues regarding $673 million of bonds issued by the island’s power utility in 2013.

The Puerto Rico Oversight Board, at an initial meeting that was interrupted by protests, named José Carrion III chairman and ordered the island government to provide a fiscal plan next month.

The Puerto Rico Electric Power Authority will attempt change the mind of the Puerto Rico Energy Commission concerning the Aguirre Offshore Gasport.

Despite an increasing possibility that the Puerto Rico Sales Tax Financing Corp. (COFINA) will make full debt service payments through 2017, S&P Global Ratings' CC rating with a negative outlook on COFINA's sales tax bond reflect its continued opinion of COFINA's high likelihood of default.

Groups opposed to the Puerto Rico Oversight Board plan to try to prevent its first meeting on Friday in New York City.

Puerto Rico’s retirement system plans to join an ongoing lawsuit filed against UBS over the alleged mishandling of pension obligation bond proceeds.

The Puerto Rico Energy Commission issued a five year plan for the island’s power authority, saying the utility had failed to come up with an acceptable alternative.

Puerto Rico Gov. Alejandro García Padilla said Friday morning that as of 6 a.m. 75% of Puerto Rican customers had electrical service.

Puerto Rico’s power outage may signal a need for greater investment in electric infrastructure, hurting returns for Puerto Rico Electric Power Authority bondholders who are in negotiations with the utility to restructure its business and debt.