Puerto Rico

Most muni analysts say a default on Puerto Rico's general obligation debt is highly unlikely in the coming years, but they differ on the wisdom of holding the debt.

Late on Thursday night Puerto Rico's government passed a major pension reform into law.

Puerto Rico Gov. Alejandro García Padilla criticized the major ratings agencies Tuesday.

On Monday night the Puerto Rico House of Representatives and Senate approved bills to reform the commonwealth's main government pension plan.

Standard & Poor's has downgraded the Puerto Rico Aqueduct & Sewer Authority's senior lien bond rating one notch to BB-plus, a speculative grade.

New Puerto Rico Gov. Alejandro García Padilla says he is being more frugal than his predecessor regarding the size and salaries of his executive office staff.

Fitch Ratings downgraded Puerto Rico debt to BBB-minus from BBB-plus on Wednesday afternoon.

Puerto Rico Gov. Alejandro García Padilla plans to propose tax increases as part of the fiscal 2013-2014 budget.

Standard & Poor's downgraded Puerto Rico's general obligation debt rating to BBB-minus from BBB Wednesday evening. The outlook remains negative.

Several municipal bond observers are cautiously optimistic about Puerto Rico Governor Alejandro García Padilla's proposed pension reform plan.