Puerto Rico

U.S. lawmakers were presented with possible options that range from backstopping Puerto Rico's debt to authorizing Chapter 9 bankruptcy to installing a financial control board.

The 60 Plus Association announced on Thursday that it is forming a coalition of small holders of Puerto Rico bonds that will push for the creation of a financial control board and oppose bankruptcy legislation for the territory.

Buy-side analysts and strategists offered recovery solutions for Puerto Rico ranging from eligibility for Chapter 9 bankruptcy to Congressional intervention and economic reform.

The Puerto Rico Electric Power Authority said Tuesday it had reached oil and natural gas purchase deals that will save it $55 million annually.

The U.S. Supreme Court is unlikely to take up the Commonwealth of Puerto Rico's recent request to consider a twice rejected law that would give Puerto Rican public entities debt relief similar to that under Chapter 9 bankruptcy, according to several bankruptcy experts.

Puerto Rico’s economy gained about 2,700 jobs in July from June, according to the Bureau of Labor Statistics.

Multiple factors are pressuring Puerto Rico's nonprofit universities and hospitals, Standard & Poor's said Thursday.

The President of the Government Development Bank for Puerto Rico sent a letter to representatives saying that the P.R. Public Finance Corp. nonpayment on Aug. 1 was not a default.

The chief of staff to Puerto Rico’s governor said that the exchange of Government Development Bank notes is the most likely approach to the government’s liquidity crunch.

Puerto Rico’s July General Fund tax revenues were 3.5% higher than budgeted, according to the Puerto Rico Treasury Department.