Puerto Rico in Distress

ABI Analysis

Barely a year out of bankruptcy, Puerto Rico’s top officials are descending on Wall Street in an attempt to convince global investors that the Caribbean island — long battered by hurricanes and fiscal mismanagement — is open for business, Bloomberg News reported.

The Supreme Court ruled on Thursday against an organization of Puerto Rican journalists in its quest for documents from the financial oversight board created to deal with the island territory's bankruptcy, the Associated Press reported.

As Puerto Rico emerges from a drawn-out bankruptcy process, a federal control board that oversees the island’s finances announced that it will focus on growing the U.S. territory’s economy, the Associated Press reported.

A federal judge curbed Puerto Rico bondholders’ rights to the electric revenue generated by its public power utility, the last major public corporation in the U.S. territory still in bankruptcy after its other public debts were restructured, WSJ Pro Bankruptcy reported.


Other Resources

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.