Puerto Rico

It remains to be seen whether the Puerto Rico Fiscal and Economic Growth Plan will persuade investors to work with the government as it restructures about $72 billion of debt.

The Puerto Rico government's plan to pay as little as 12% of its debt from fiscal 2016 to 2021 is likely to face legal and political challenges, observers say.

Puerto Rico Gov. Alejandro García Padilla announced Friday the planned start of construction of a train line between San Juan and Caguas.

Suggestions for handling Puerto Rico’s fiscal crisis, including a control board, continue to circulate in Congress as it prepares to resume its session after Labor Day.

The Puerto Rico Electric Power Authority still has months of work ahead to come to agreement on such issues as the maturity structure for its new bonds and improvements to its efficiency.

The proposed recovery plan agreed to by the Puerto Rico Electric Power Authority (PREPA) and certain bondholders, announced Wednesday, furthers the view that a restructuring of the issuer's debt obligations remains probable, Fitch Ratings said.

The Puerto Rico Electric Power Authority and its forbearing bondholders reached an agreement Tuesday night that would cut the amount of PREPA's outstanding debt, reduce near-term debt service, and lower interest rates.

A leader of Puerto Rico's primary opposition party has accused Millstein & Co. of a conflict of interest in its dealings with the Puerto Rico Electric Power Authority.

James Albino stepped down as executive director of the President’s Task Force on Puerto Rico Friday to take a deputy assistant secretary position with the Department of Veterans Affairs, an administration spokesperson confirmed.

Puerto Rico bondholders may get a clearer picture in the coming week of how they will fare under restructuring plans for $72 billion in debt.