Puerto Rico

While the governor is hoping for a deal that would be cheaper for Puerto Rican consumers, the result may be the opposite, critics say.

A group of bondholders and bond insurers also submitted on Sunday a statement opposing the teachers’ request for stay.

The teachers are trying to prevent enactment on March 15.

Puerto Rico teachers' associations are trying to delay the March 15 enactment of the Plan of Adjustment while they appeal it.

The restructuring is on track to occur March 15, officials said.

The governor wants the current deal revised and to be able to participate in any mediation talks. Bond insurers, the Unsecured Creditors Committee and authority’s fuel line lenders also want to be included.

The board also says the bondholders' proposed deadlines for completing a restructuring are too tight.

The Oversight Board also approved a new fiscal plan for the Highways and Transportation Authority.

They say a Plan B that does not involve local legislative approval must be negotiated.

At issue is about $400 million the board would like Puerto Rico's government to retain.