Puerto Rico

Puerto Rico's unemployment rate plunged seven tenths of a percentage point in June from May, bringing the rate to the lowest level since October 2008. But the number employed is also down.

Puerto Rico officials are signaling that the power authority known as PREPA, with $8.7 billion of debt, is the most likely of the island's largest eligible public corporations to restructure its obligations under the commonwealth's new Recovery Act.

Puerto Rico Gov. Alejandro García Padilla has announced Puerto Rico will prepare a plebiscite on its status, though the actual vote may not happen until mid-2016 or later.

The Government Development Bank for Puerto Rico will host a webcast on Thursday at 2:30 p.m. EST to update investors on Puerto Rico's fiscal and economic plans.

Puerto Rico's non-voting representative in Congress met with credit rating agencies and investment bankers in New York last weekend, seeking to assure them of Puerto Rico's economic future.

Standard & Poor's downgraded the Government Development Bank of Puerto Rico's long-term issuer credit rating to BB-minus from BB.

As the legal fight over Puerto Rico's Recovery Act heats up, Argentina and Arkansas provide roadmaps to what may lie ahead.

Puerto Rico's fiscal year 2014 deficit came in 4.5% lower than budgeted at the start of the year.

The Puerto Rico Electric Power Authority's recent draw on its debt reserve account is a danger sign for its bond-holders, analysts say.

The Puerto Rico Electric Power Authority said Thursday that its trustee had made an unscheduled withdrawal of $41.6 million from the debt service reserve.