Puerto Rico in Distress

ABI Analysis

A new study is shedding light on the financial challenges people in Puerto Rico face as a result of the economic turmoil they have endured since the Great Recession, NBCNews.com reported. Findings from the National Financial Capability Study published in a report released yesterday show that many adults in the U.S.

The judge overseeing the bankruptcy of Puerto Rico’s electric utility directed the parties to reach a consensual debt-cutting deal through mediation and put a hold on most legal filings for at least 60 days to force the borrower and its creditors to focus on their negotiations, Bloomberg News reported. U.S.

A subsidiary of Spanish highway operator Abertis is considering borrowing $424 million to fund capital projects for four Puerto Rico toll roads, Bloomberg News reported. The Public Finance Authority, a Wisconsin-based issuer, approved the bond sale for Puerto Rico Toll Roads LLC, at a June 26th board meeting.

Potential changes to Puerto Rico Electric Power Authority’s debt-cutting plan have lost support of National Public Finance Guarantee after an appeals court expanded creditors’ allowable claims, Bloomberg News reported.

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