Puerto Rico in Distress

ABI Analysis

Pedro Pierluisi vowed to achieve statehood for Puerto Rico and fight against poverty, corruption and COVID-19 after he was sworn in Saturday as the U.S. territory’s new governor, the Associated Press reported.

One of Puerto Rico’s most essential utilities company has returned to the capital markets for the first time in eight years, the Associated Press reported. The comeback took place on Thursday after government officials in the U.S. territory announced the issuance of $1.4 billion worth of bonds.

The U.S. government isn’t liable for losses on $3 billion in Puerto Rico pension bonds, a federal judge said yesterday, rejecting efforts to put U.S. taxpayers on the hook for compensating investors, the Wall Street Journal reported. Judge Richard A. Hertling of the U.S. Court of Federal Claims said bondholders can’t hold the U.S.

The U.S. Supreme Court yesterday declined to review an appeals court ruling against a group of Puerto Rico bondholders seeking pension assets and a share of future revenue, Pensions&Investments reported. On Jan. 30, the U.S.