Puerto Rico

The Puerto Rico Electric Power Authority put off a day of reckoning in an agreement with creditors announced Thursday, but still may be headed for what would be the largest municipal bond default in U.S. history.

The Puerto Rico Electric Power Authority announced agreements with insurers and bondholders controlling more than 60% of PREPA's outstanding bonds to amend existing bond documents to provide PREPA with liquidity and for PREPA to appoint a chief restructuring officer.

Net revenues of the Puerto Rico Aqueduct and Sewer Authority came in 6% ahead of budget in fiscal 2014.

The Puerto Rico Treasury Department and struggling Doral Financial Corp. have entered into court-supervised negotiations over Doral's claim for $229 million.

The Puerto Rico Public Corporations Debt Enforcement and Recovery Act, approved by the Puerto Rico legislature in late June, has had a notable impact on market activity and perceived credit quality for bonds of the commonwealth and its agencies.

The Puerto Rico Electric Power Authority moved a step closer Thursday to opening an important natural gas port that would lower its operating costs.

Puerto Rico's net revenue was 6.3% ahead of projections in July.

Puerto Rico Gov. Alejandro García Padilla created a public transit authority to integrate oversight over various modes of transportation.

June was the first month in almost two years when all the private sector components of Puerto Rico's Economic Activity Index were positive year over year.

A rating boost affirms the ability of bond insurer Assured Guaranty to minimize its Puerto Rico exposure, according managing director John Hallacy.