-
The deal continues to offer better recoveries for the guaranteed Public Building Authority debt than for general obligation debt, but trading of the GOs blew up with more than $180 million exchanging hands to higher prices.
February 23 -
Reducing tax fraud is one of the goals of the fiscal plan approved by the Puerto Rico Oversight Board in May.
February 22 -
Net revenues in the first six months were $5.19 billion. Without postponed income tax revenues from the prior fiscal year, this figure would have been $4.711 billion.
February 18 -
Puerto Rico private sector employment had an even more serious contraction in 2020 on the island than it did in the United States as a whole.
February 17 -
The judges should rule soon on insurer suits seeking monetary compensation against major bond underwriters.
February 16 -
The Oversight Board asked the court to extend its deadline for submitting various documents including a term sheet to restructure the central government debt.
February 10 -
The judges found the appellants had failed to seek stays or appeals of the approved bond restructuring — on about $17.6 billion of debt — in a timely fashion and the plan had advanced well beyond the point where it could be practically undone.
February 9 -
The effects of COVID-19 on Puerto Rico are severe and the island's capacity to repay its debt has changed. The Oversight Board's objectives in the debt-restructuring process, however, have not.
February 8Financial Oversight and Management Board for Puerto Rico -
No ruling was issued and the judges' sympathies could not be easily deciphered.
February 5 -
The Puerto Rico Oversight Board has previously said there would be significant spending cuts in the the coming fiscal year.
February 3