Public pensions

Brad Lander and Daby Carreras jostled over whether the city's move is a sound investment and effective against climate change.

The Puerto Rico Bankruptcy Judge on Friday ordered a meeting for Monday between the Oversight Board, lawmakers, the governor and creditors to discuss possible alternatives.

While the Puerto Rico House passed it, the Senate set a Thursday vote to ensure passage.

The deal for new bonds will likely be passed but experts say the final Plan of Adjustment may not lead to a sustainable recovery for the island.

Lawmakers say they will support legislation backing the Plan of Adjustment, which has been a major hurdle for completion of the debt restructuring plan.

Judge Swain keeps the process on schedule to start the Confirmation Hearing on Nov. 8.

The board also offers to approve other spending in exchange for local government approval of new bonds and other measures for the Plan of Adjustment.

Bond insurer Ambac Assurance joined other creditors in saying without local government support, they may withdraw theirs for the Plan of Adjustment.

Puerto Rico House leadership wants a guarantee of no pension cuts and other incentives in a debt bill.

The current bill is inconsistent with what the Oversight Board has said it is willing to accept.

The Plan of Adjustment confirmation hearing will still begin on Nov. 8.

The district follows up on a taxable refunding with some new money and refunding as the ink dries on pension legislation that removes the threat of insolvency.

Judge Swain said she would rule on Sept. 30 on extending the Oct. 4 deadline for voting.

The city's high leverage drew a two-notch Moody's downgrade ahead of a pension obligation bond deal to pay the unfunded liabilities of its public safety plans.

Retiree medical benefits are creating an overhang for states as they continue to grapple with the pandemic, analysts said.

The government is also hoping an outside company will take over the Limetree oil refinery in St. Croix.

The board sent mixed signals on a possibility of deal with legislature on pension cuts.

Pierluisi filed a request to stay the adversary proceeding in late August. Since then, the board and Puerto Rico House and Senate leaders told the court they oppose the stay.

The fast-growing Texas capital was downgraded by Fitch Ratings ahead of a $328 million bond sale that is expected to price in September.

New York State's comptroller cited the strength of the pension system in the drop to 5.9% from 6.8%.