PROMESA

The territory needs $1.3 billion to $2.3 billion of investment beyond the current level to support growth and competitiveness.

A declaration would be a first step toward dealing with the insolvency of the Water and Power Authority, with $252 million of bonds outstanding.

Gov. Wanda Vázquez's bill aims to prevent the commonwealth from pursuing debt practices that have gotten it into trouble.

The website aims to provide information about the restructured bonds and to advertise them as creditworthy.

Muni bankruptcy expert James Spiotto told lawmakers that replacing debt restructuring with debt cancellation has no rationale or justification.

Puerto Rico Gov. Wanda Vázquez's misgivings about rate increases threaten to upend the $8 billion restructuring plan, a lawyer for unsecured creditors told the bankruptcy court.

The mediator's report on almost $26 billion of bonds is now scheduled to be submitted on Nov. 27.

Judge Swain has ordered an end to the stay on open litigation of pension bond issues.

The plan would rebuild the power system with a web of "micro grids," funded in part with federal and private money.

UBS, the underwriter facing more than $800 million in lawsuits over the pension system bonds, argued the proposed schedule won't give it enough input.

Lack of legislative cooperation wouldn't be a problem until after court-approval of a plan of a adjustment, observers said.

The proposal is highly doubtful to become law in the coming months given the limited number of days Congress will be in session the remainder of the year.

Protesters targeted investors in prisons and Puerto Rico bonds at the Museum of Modern Arts' opening.

The board also said the local government's $18 billion in the bank doesn't give it additional money to pay bondholders.

The bond insurer may be seeking a more receptive audience for its claim that underwriters provided incomplete and misleading information about the bonds it insured.

Two board members said an effort in congress to shift responsibility for the commonwealth's infrastructure revitalization is ill timed.

If a majority of the justices find the Oversight Board created by Congress has a primarily federal role, it could do what the hedge funds want and invalidate the board.

The House Natural Resources Committee, meanwhile, is meeting Oct. 22 to consider removing the infrastructure revitalization section from the federal legislation that established the Puerto Rico Financial Oversight and Management Board.

Moody's says the adoption of an on-time budget along with audited financials are positive developments.

Bondholders' hopes of getting more than 13 cents on the dollar depend on rulings in various legal proceedings.