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As Sunday's fiscal deadline approaches the legislature is hammering out a budget that's $500 million bigger than the Oversight Board's plan.
June 26 -
German Ramirez and Richard Prann of HJ Sims talk from Puerto Rico about the situation on the island and discuss COFINA and the IRS, what's new with the GDB bonds and with the commonwealth's GOs. Chip Barnett hosts.
June 25 -
Puerto Rico CFO Rafael Maldonado Gautier said that some Treasury professionals have been selling influence, issuing false licenses, and trying to extort him.
June 24 -
Submissions are now open for the Bond Buyer’s fourth class of Rising Stars, an honor which showcases the brightest young minds in the municipal bond industry.
June 24The Bond Buyer -
They say a ruling in the Aurelius case reinforces their contention that the Puerto Rico Oversight Board is a federal body.
June 20 -
The Oversight Board has reached an agreement with the Committee of Retirees that makes a flat 8.5% cut to pensions over $1,200 a month and does not change payments to the 61% of current retirees who receive monthly pensions of $1,200 or less.
June 19 -
The U.S. Senate has until July 14 to act.
June 18 -
The overall recovery would be in the 36% to 38% range under its restructuring plan for $35 billion in bonds.
June 17 -
The PRIDCO deal would be the fifth restructuring proposed or consummated under the Puerto Rico Oversight, Management, and Economic Stability Act of 2016.
June 14 -
The agreement “would increase prices by up to 21%” and it’s “highly unlikely PREPA will be able to completely offset the legacy debt charges,” resulting in “considerably higher electricity rates for decades to come,” said the letter signed by four senators and 32 House members.
June 13