Puerto Rico

The teachers' groups will request a stay of plan implementation.

Local legislators may be opposed to the current PREPA bond deal.

More federal Medicaid funding and higher-than-expected economic growth will lead to more revenues, the board expects.

Swain's order affects $1.9 billion of PRIFA bonds and $384 million of CCDA bonds, for which insurers and bondholders will receive minimum recoveries of 14% and 29% of par, respectively.

The law concerning bankruptcy advisor disclosures comes after the SEC fined Oversight Board advisor McKinsey in November.

Participants note there is a long road to sustainable recovery for the island that is dependent on the local government keeping its spending in check.

After more than four years of intense negotiations between many stakeholders, the Oversight Board's Plan of Adjustment gets the OK from Judge Laura Taylor Swain, moving the commonwealth closer to emerging from bankruptcy.

To become law, the bill would have to pass the House of Representatives and Senate, gain the governor's signature, and avoid potential blocks by the Puerto Rico Oversight Board and lawsuits.

The Economic Activity Index is up 3.5% from a year earlier.

Swain rejected several legal challenges to the Plan of Adjustment. The Oversight Board must file a final amended plan by Friday.