Creditors to Puerto Rico's electricity provider were given a slight respite yesterday when the bonds' trustee made a scheduled payment, but the U.S. municipal bond market remained worried the Puerto Rico Electric Power Authority will soon use a new bankruptcy-like process to restructure its debts, Reuters reported yesterday.
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Moody's Investors Service said yesterday that Puerto Rico's new debt restructuring law will increase the default risk for public corporations, Reuters reported yesterday.
A pair of Wall Street investment firms is challenging Puerto Rico's new law allowing some public agencies to restructure their debt, saying that it violates the U.S. Constitution, the Wall Street Journal reported today. Funds managed by Franklin Templeton Investments and OppenheimerFunds Inc. asked the U.S.
Puerto Rico Governor Alejandro Garcia Padilla unveiled a bankruptcy-like process for some public corporations to restructure their debts yesterday in a fresh bid to shore up the U.S. territory's deteriorating finances, Reuters reported yesterday.
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This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.