Puerto Rico

The Economic Development Bank estimated the first half of fiscal 2022 had experienced a 5.5% increase in growth, upward from a 3.6% increase in previous estimates.

Some say judge's goal of a May 2 plan of adjustment seems increasingly unlikely.

The governor highlighted the positive role of federal aid on the island.

Without a reversal in UST or municipal bond mutual fund outflows, munis will continue to be pressured.

The commonwealth's unemployment rate hit a record low in February.

The board said the projects will result in up to $387 million of savings over a 15-year period.

Some critics say relying on federal aid may obscure the underlying problems Puerto Rico faces in the longer term as it emerges from bankruptcy.

Any new debt deal already would require rate increases to cover debt service on the authority’s roughly $9 billion of debt.

Assured Guaranty Municipal Corp. and Assured Guaranty Corp. both resolved their exposure to its insured Puerto Rico debts leading to the upgrade to A1.

Swain said several mediators involved in the central government's plan of adjustment are unavailable for the PREPA deal. The Oversight Board says the local legislature will not be included in the negotiations.