PROMESA

Bond analysts and Puerto Rico political leaders were voicing concern Friday over a new tax on territories reportedly included in the Republican federal tax bill.

Puerto Rico’s electrical grid is unlikely to be fully restored until the end of May, the head of the U.S. Army Corps of Engineers said Wednesday -- months longer than the timeline offered by the island’s governor.

Creditors clashed in court with bond issuers over claims on revenues for the Employee Retirement System.

The Puerto Rico Electric Power Authority named 11 experts in grid reliability and restoration to a senior-level advisory council, part of a long-term effort to improve service, lower costs, and reduce prices.

Over two months after Hurricane Maria devastated Puerto Rico, the island’s government still hasn’t received any of the $4.9 billion of short-term loans promised in the storm aid package Congress passed at the end of October.

The act gives the federal government flexibility in how to deal with Puerto Rico, the department said in answering a challenge by Aurelius Capital.

By continuing to insist on their pound of flesh, bondholders will lose more.

The U.S. Virgin Islands is grappling with a government revenue shortfall in the aftermath of two category 5 hurricanes.

Puerto Rico expects its central government revenues to come in 25% short of budget in this fiscal year.

While money on hand was better than expected, the island's financial advisory authority warned that expenditures will worsen.

A longtime bond professional explains why he’s an understanding holder of Puerto Rico general obligation debt -- and angry investor in the island’s sales tax revenue bonds.

Sen. Bernie Sanders, I-Vt., introduced a comprehensive support bill for Puerto Rico and the U.S. Virgin Islands Tuesday, calculated to cost up to $146 billion.

The engineer who led the restoration of electrical service in New York City after Superstorm Sandy has been appointed to oversee the recovery of Puerto Rico's power grid.

Puerto Rico’s government announced it would pay its annual Christmas bonus to workers this year.

The Puerto Rico Electric Power Authority governing board said it was gathering a Transformation Advisory Council of utility industry leaders.

Ramos had been under fire over his management of disaster response and contract and hiring practices.

Texas also would get less funding than it says it needs in the White House request, set to be made on Friday.

U.S. Sen. Elizabeth Warren and Rep. Nydia Velázquez called for the Oversight Board to eliminate all of Puerto Rico’s public sector debt.

Puerto Rico is considering suspending debt-service payments for five years, a lead lawyer for the territory’s federal oversight board said.

Two GOP Representatives argued that the Puerto Rico Oversight Board should be given additional powers over the Puerto Rico Electric Power Authority.