Puerto Rico’s debt restructuring faces a potential delay as the island’s oversight board plans to ask the court shepherding the commonwealth’s record bankruptcy to postpone hearings while the government works to address the coronavirus, Bloomberg News reported.
Puerto Rico’s main bankruptcy case could end in early November under a schedule approved by the federal judge overseeing the island’s record-setting debt restructuring, Bloomberg News reported. U.S.
Municipal bond buyers thought Puerto Rico was on the cusp of restructuring its troubled power monopoly on their preferred terms. Now they aren’t so sure, as government leaders harden their stance against hiking electricity rates to pay off billions of dollars in debt, the Wall Street Journal reported. Some of the municipal bond market’s largest investors, including BlackRock Inc.
On the heels of his two-day tour of the earthquake devastation in Puerto Rico, U.S. Sen. Richard Blumenthal (D-Conn.) is calling for a modern “Marshall Plan” to rebuild schools, hospitals and power plants across the disaster-stricken island, the Hartford (Conn.) Courant reported. Blumenthal argues that the U.S.
The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.
