Bankruptcy

Treasury Secretary Jack Lew added to the pressure for quick passage of a Puerto Rico rescue bill in a letter to the Senate leadership on Monday, even as some public finance professionals maintain the bill is unnecessary and could be harmful for the commonwealth.

Puerto Rico said it would not be paying bond anticipation notes from the Puerto Rico Infrastructure Finance Authority.

The outlook for the University of Louisville was changed to developing after Moody's Investors Service found that Kentucky Gov. Matt Bevin’s dismissal of the board of trustees raised uncertainty about the university’s governance.

Puerto Rico and Obama administration officials said on Thursday it is imperative that a House bill designed to help the commonwealth be passed into law before the territory’s expected debt payment default on July 1.

The small south Florida city of Opa-locka, recently designated by the state to be in a financial emergency, is under investigation by the Securities and Exchange Commission, according to the Miami Herald.

The Senate is expected to keep Puerto Rico waiting for progress a House bill to help the island address its debt crisis, as other options for the commonwealth have continued to be eliminated.

In a first-of-its-kind case, a federal judge hears arguments June 30 on motions to dismiss a challenge by two Florida counties of $1.75 billion in private activity bonds for the All Aboard Florida passenger train.

Hedge funds holding Puerto Rican general obligation bonds sued the commonwealth Tuesday after debt restructuring talks broke down.

Even before the Senate takes up the House Puerto Rico bill, the names of several individuals are being floated as possible candidates for the oversight board the legislation would create.

A more than $200 million bond-financed hotel near Portland, Oregon's convention center that had faced years of legal challenges appears on track to open in late 2019.