Puerto Rico

The authority will takes steps to raise $1 billion to address expected growth of expenses.

A teachers' request was rejected, but another ruling could force the board to release documents it chose to withhold.

The main bond classes appear to clear the two-thirds majority needed for a court endorsement.

The authority currently projects $169 million in losses over three months, though FAFAA says it won't be that bad.

The territory has to respond to a change in U.S. tax policy that will eliminate a substantial source of revenue.

While expenditures also grew, revenues came in 4.5% higher than projections and were higher than the authority's cost growth.

Teachers petition court for a rehearing before the full appeals court panel of judges.

The local government's bond restructuring law specified the tax was to go to the General Fund starting on March 15.

Holders of $4.3 billion of HTA bonds will receive $1.2 billion of new bonds with 5% coupons and $389 million of cash.

With the ink still drying on the central government restructuring, analysts give takeaways from Puerto Rico's bankruptcy. Some point to credit fundamentals, others to lack of willingness to pay, as key drivers of the bankruptcies.