Puerto Rico

The Puerto Rico Electric Power Authority’s two biggest bond insurers scored a victory in the authority’s Christmas Eve debt restructuring deal.

Bills introduced by Senate and House Democrats on Monday to temporarily halt litigation over Puerto Rico debt raise legal issues and could divide rather than unite lawmakers over a solution to the territory’s debt crisis, sources said on Wednesday.

Puerto Rico Sen. President Eduardo Bhatia Gautier said that he would not run to become governor in November 2016.

Four Senate Democrats and the House Minority Leader have introduced identical bills that would temporarily halt litigation by bondholders and creditors over Puerto Rico’s debt until Congress takes action to allow the territory to restructure the debt.

Puerto Rico is paying its annual Christmas bonus amid concerns about whether it will pay all its bond debt Jan. 1.

Puerto Rico’s employment went up for the fifth consecutive month on a month-to-month basis in November.

Congress postponed action on Puerto Rico’s debt crisis to next year as the island’s governor blasted U.S. legislators as pawns of Wall Street.

Puerto Rico's electric utility reached a tentative agreement with bond-insurance companies and some bondholders to restructure the utility's $8.2 billion of debt, according to two people with knowledge of the discussions.

Puerto Rico Aqueduct and Sewer Authority financial results in the first quarter of fiscal year 2016 were mixed.

Senate Minority Leader Harry Reid, D-Nev., made a final pitch on Thursday for lawmakers to include provisions to help Puerto Rico with its debt crisis in the pending omnibus spending bill, calling it “the moral thing to do.”