Puerto Rico

Key Puerto Rico lawmakers in the governor's own party are saying they want changes to his proposed budget's revenue increases.

The Puerto Rico Government Development Bank, which provides loans to the U.S. territory's government and semi-autonomous authorities, is in a "fragile" position, the bank's president told legislators.

Morgan Stanley has hired former Puerto Rico Government Development Bank president Jorge Irizarry to attract public finance business in Puerto Rico.

Gov. Alejandro García Padilla is proposing an active role for the government in the commonwealth's economy.

Puerto Rico Gov. Alejandro García Padilla has proposed an 8% larger operating budget for the coming fiscal year.

Puerto Rico's "essential services" utility credits don't appear to offer investors a safe alternative to the commonwealth's general obligation debt.

On Thursday afternoon Fitch Ratings downgraded the Puerto Rico Aqueduct and Sewer Authority's senior revenue bonds to BBB-minus from BBB.

A Puerto Rico senator, who is in the same party as Gov. Alejandro García Padilla, is proposing widening the application of the commonwealth's sales tax.

Analysts are saying that when Puerto Rico comes to the market to sell bonds before July it will have to pay a high yield and will only succeed if it shows more progress towards fiscal health.

President Obama is proposing that Puerto Rico hold a plebiscite to determine its political status.