The judge overseeing the bankruptcy for Puerto Rico’s government-owned electric utility continued a pause on litigation related to the case as the power provider and its creditors negotiate a possible debt-cutting deal, Bloomberg News reported. U.S. District Court Judge Laura Taylor Swain extended for an additional 30 days the litigation stay through Oct.
Puerto Rico in Distress
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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.
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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.