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Puerto Rico in Distress

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Puerto Rico’s general obligation bonds — a debt instrument of the local government — have been trading up by a couple of percentage points, to about 67 cents on the dollar, according to a commentary in the Financial Times on Saturday.

The hedge funds and insurance companies that want financially strapped Puerto Rico to pay them back in full may have found a new ally: Donald Trump’s former campaign manager, Corey Lewandowski, ProPublica.com reported.

A U.S. federal appeals court has decided creditors of Puerto Rico's pension bonds are entitled to a hearing on whether they can proceed with a lawsuit against the island's government over a fiscal emergency law it passed last year, Reuters reported yesterday. The U.S.

Puerto Rico's new governor is seeking more time to present a fiscal turnaround plan for the struggling U.S. territory, saying the the Jan. 31 deadline set by the commonwealth's federal oversight board is too tight, Reuters reported. In a letter to the board dated Jan.

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