Puerto Rico

Puerto Rico’s employment situation continued to improve in June, with total employment up 2% from a year earlier.

Assured Guaranty subsidiaries sued Puerto Rico over its diversion of toll revenues that had supported insured bonds.

Six hedge and investment funds holding Puerto Rico general obligation bonds sued Puerto Rico leaders Wednesday, seeking the government to use its money to pay GO bonds.

S&P Global Ratings said it has lowered its rating on certain Puerto Rico Public Buildings Authority's bonds, as well as on the Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority's series 2011A bonds, to D (default) from CC following a default on payment of debt service on July 1.

An investor in Puerto Rico Highways and Transportation Authority bonds has sued Puerto Rico officials and the PRHTA.

Republicans delegates adopted a 2016 platform at their national convention in Cleveland that supports statehood for Puerto Rico, but not for the District of Columbia. The GOP also wants to abolish the Internal Revenue Service, overhaul the federal tax code, and expand the use of P3s for infrastructure projects.

The Puerto Rico rescue bill sets the stage for a control board that some say may be ill suited to solving the island's unprecedented crisis.

Congressional leaders have named the eight members who will serve on a legislative task force responsible for examining possible ways to boost Puerto Rico’s struggling economy.

The Puerto Rico Electric Power Authority performed twice as badly as budgeted in the first 10 months of the fiscal year.

Puerto Rico’s representative in Congress is asking Gov. Alejandro García Padilla to take steps to comply with a portion of the recently enacted law, PROMESA, that requires cost estimates for new commonwealth legislation to be disclosed after an oversight board is created.