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The underestimate came as the board was concerned about the impact of COVID-19 on the island's economy.
August 17 -
Even if the Oversight Board can legally approve new debt for the deal, some market participants say the future "willingness to pay" is the larger consideration.
August 9 -
The board will say it has treated the creditors fairly, it meets the 'best interest' test for debtors, and its plan preempts dozens of local laws.
August 6 -
Judge Swain also allowed Debt Recovery Authority bondholders efforts to protect their collateral to continue.
August 4 -
The board recommended federal policymakers talk with Puerto Rico’s government about ways to increase pharmaceutical and medical products manufacturing on the island to expand economic development.
August 2 -
Revenues were also ahead through the first 11 months of fiscal 2021.
July 30 -
Bankruptcy Judge Swain conditionally approved the Disclosure Statement, moving the Plan of Adjustment closer to a vote, but questions remain on how new bonds for the deal will be resolved.
July 29 -
The Oversight Board reached the deal with Ambac Assurance and Financial Guaranty Insurance Company on PRIFA rum tax bonds. The two insurers had been important holdouts from the central government debt deal.
July 27 -
Preliminary yields in the offering memorandum show spreads of 112 to 169 basis points over triple-A benchmarks, substantially lower than spreads seen in a successful speculative grade PRASA refunding in December.
July 23 -
While the truckers returned to work Thursday night, their union said board interference could lead to a renewed strike.
July 23