Puerto Rico

A major mall opened in San Juan on Thursday, leading to as many as 3,000 new jobs in Puerto Rico.

Fitch Ratings downgraded Puerto Rico’s general obligation bonds to B from BB-minus on Thursday, citing concerns about the commonwealth’s ability to sell a bond to increase liquidity and the legislature’s willingness to pay back the commonwealth’s debt.

A forbearing bondholder of the Puerto Rico Electric Power Authority is hopeful about PREPA’s future and is prepared to lend it more money.

Puerto Rico Gov. Alejandro García Padilla said he was opposed to amending the Puerto Rico constitution to allow restructuring of its debt.

There are increasing reports of government officials discussing debt restructuring in Puerto Rico.

Some local governments may require extraordinary financial assistance from the Commonwealth, adding to pressure on its general obligations.

RBC Capital Markets purchased a $246 million bond anticipation note from Puerto Rico Monday, supported by a recently passed oil tax increase.

Puerto Rico’s employment situation is getting worse or significantly better, depending on which U.S. Bureau of Labor Statistics survey one believes.

Three members of the Puerto Rico House of Representatives plan to propose legislation to open the door to restructuring the commonwealth's debt

The Tax Reform Act for Puerto Rico presented by Governor Alejandro Garcia Padilla is the significant change Puerto Rico needs to stimulate the commonwealth's economic development and confront the Island's fiscal challenges.