Puerto Rico

The Puerto Rico Oversight Board says PREPA electric demand will decline 50% by 2051.

Mediation sessions are expected to resume in the coming weeks.

The contract is for 10 years.

Revenue were better than projected despite the Treasury Department postponing deadlines for certain taxes.

Critics say there are problems with part of the team because of a conflict of interest and a lack of experience.

Bondholders say they have lost patience after six years of nonpayment.

While the bill has wide support in the Puerto Rico House of Representatives, the Oversight Board has yet to offer its opinion.

Certain Puerto Rico issuers with over $5 billion outstanding continue paying bondholders in full and on time.

The Oversight Board seeks to recover $1.42 billion in fees on bond deals and interest rate swaps.

Net revenues for September and October came in 12.3% above budgeted projections.