Puerto Rico

Oversight Board asks Gov. Pierluisi not to sign a bill it says would cost $3 billion over five years.

Judge Swain's action removes the last major hurdle for her to approve the PREPA plan of adjustment before the confirmation hearing, although appeals are expected.

Assured Guaranty and GoldenTree offer a alternative to the deal the Oversight Board reached with BlackRock and four other investment firms.

Observers say Puerto Rico's 2024 elections may not change government policy much.

The board askeds the judge to dismiss objections that claim its plan of adjustment is unconfirmable.

GoldenTree Asset Management, Syncora Guarantee, Assured Guaranty and certain members of an ad hoc group of the power utility's bondholders entered a cooperation agreement where they pledge to work together against the agency's potential debt-cutting plan, according to a court document.

The deal is expected to be executed Dec. 14, putting four government-run tollways under Albertis Infraestructuras SA, which already runs Puerto Rico toll roads.

They say the plan is unconfirmable in its current form and must be changed before any disclosure statement is approved.

The board says the First Circuit should stop GoldenTree and Syncora's efforts to appoint a receiver.

Puerto Rico's Treasury secretary says first quarter results are a good sign for fiscal stability.