-
The U.S. Senate has until July 14 to act.
June 18 -
Citing new uncertainties surrounding revenue credits, Moody's downgraded the Illinois State Toll Highway Authority ahead of a $300 million deal.
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 -
The Oversight Board called the deal to reduce cuts to retirees a "crucial step" toward restructuring $25 billion in bonds and loans.
June 12 -
The new bonds would offer about 25 basis points less in interest.
June 11 -
He said the board has been inaccurate in its financial predictions and that he wouldn’t participate in any cuts to pensioner benefits.
June 10 -
Rating criteria changes and a ruling in the Puerto Rico III case have undermined some investors' and analysts' confidence in revenue pledges.
June 10 -
The central government has $2.2 billion more than projected, raising hopes that bondholder losses may be mitigated.
June 4