PROMESA

Analysts said investors' willingness to lend to Puerto Rico and other troubled entities may be ratcheting up risks for the muni market.

The first hearing of the Puerto Rico Title III case on Wednesday reinforced that the battle between general obligation and Puerto Rico Sales Tax Financing Corp. (COFINA) bondholders will be a central issue as the biggest municipal restructuring gets underway.

The cases will be jointly administered, meaning paperwork and other day-to-day matters will be consolidated, but will remain legally separate for now.

Puerto Rico’s debt reorganization hearings began with a decision by Judge Laura Taylor Swain to consolidate administration of two existing filings affecting about $30 billion of bonds.

The Government Development Bank for Puerto Rico reached a deal with its creditors to restructure its $4.1 billion in debts.

U.S. lawmakers want Puerto Rico board to focus on economic growth and freeze debt service payments.

The Puerto Rico Oversight Board’s Title III cases got new case numbers on Thursday.

The COFINA bond trustee declared a default and COFINA Senior holders called for payments to COFINA Subordinate holders to end.

Puerto Rico and its creditors are set to meet for the first time in court on May 17 in San Juan before U.S. District Judge Laura Taylor Swain to begin restructuring the island’s debt.

Illinois lacks a path to restructure state debt but Puerto Rico's filing heightened chatter.

The Puerto Rico Oversight Board extended the deadline for Gov. Rosselló to submit the FY2018 budget by two weeks.

The Puerto Rico Electric Power Authority said Monday it is seeking approval from the Oversight Board for its deal with its creditors that was reached outside the court supervised restructuring that's underway for other issuers in the territory.

The Oversight Board certified a Title III filing for the Puerto Rico Sales Tax Financing Corp., affirming that its $17.9 billion of revenue bonds will be subject to court supervised restructuring along with other territorial debt.

Puerto Rico Gov. Ricardo Rosselló and his financial advisors are insisting that the Title III judge cannot review the amount of debt that Puerto Rico will pay in the next ten years.

Judge Laura Swain of New York was chosen to oversee Puerto Rico's Title III restructuring process.

Bond insurers Assured Guaranty, Assured Guaranty Municipal and National Public Finance Guarantee filed a challenge to Puerto Rico’s certified fiscal plan.

The Oversight Board filed the petition with U.S. District Court in Puerto Rico.

Puerto Rico Gov. Ricardo Rosselló said Wednesday morning that the start of a Title III bankruptcy process for Puerto Rico was imminent.

Legislators and others urged Puerto Rico to pursue a court-organized debt restructuring.

Puerto Rico’s fiscal and debt crisis moved into a new phase marked by riots, active lawsuits, and biting political attacks.