PROMESA

He said the board has been inaccurate in its financial predictions and that he wouldn’t participate in any cuts to pensioner benefits.

Rating criteria changes and a ruling in the Puerto Rico III case have undermined some investors' and analysts' confidence in revenue pledges.

The central government has $2.2 billion more than projected, raising hopes that bondholder losses may be mitigated.

The commonwealth overall has been allocated $42.3 billion in disaster aid since Hurricanes Maria and Irma struck the island, not counting the new funding approved by Congress.

The board referred 13 public entities to the Puerto Rico Secretary of Justice and U.S. Department of Justice.

The legal argument made against revenue bonds just doesn't make sense in the market-based world.

A surplus this coming fiscal year will be used in following years for debt and pension payments, Executive Director Natalie Jaresko said.

Over the first 10 months of the fiscal year, General Fund net revenues are 11% above October projections.

Court filings cast doubt on repayment of an additional $5.1 billion in the territory's debt restructuring.

U.S. Justice Department responds to hedge funds seeking reimbursement for Oversight Board impairments to bonds.

Justifying the latest bid to recover funds related to illegally issued debt, the board says the legislature failed to authorize the pension system bonds.

An IRS opinion that the existing bonds are tax-exempt is key to the exchange offer.

The delay of $220 million of pension savings is the latest "upsetting piece of news for bondholders."

The board and the governor remain about $500 million apart on spending.

Moody's put the Illinois State Toll Highway Authority's A3 rating on review for a downgrade in the wake of the Puerto Rico ruling.

The anticipated surplus for fiscal years 2019 through 2013 has dropped to $11.6 billion from $15.1 billion, leaving less money for debt service and capital spending.

The plan continues a cut to the pension system found in earlier versions.

New expectations for disaster funding, gross national product growth rates, and population may change projections of money for debt.

Assured Guaranty CEO Dominic Frederico said at the recent AFGI Puerto Rico Bankruptcy Risk Summit that "the open disregard of law" among public officials in Puerto Rico "could give public officials elsewhere reasons to believe they could escape their obligations."

James Spiotto, Managing Director at Chapman Strategic Advisors, explains why he believes U.S. district court Judge Swain's decision on special revenue bonds was wrong, and the impact it may have on revenue bond issuance, at the recent AFGI Puerto Rico Bankruptcy Risk Summit.