The expiration of the Puerto Rico Electric Power Authority's contract with the firm leading the utility's restructuring efforts has increased uncertainty for bondholders, Moody’s Investors Service said in an analysis released Monday.
The Economic Development Bank has a specific agenda it will follow to promote local small and mid-sized enterprises, including the creation of a training institute for entrepreneurs, agency President Luis Burdiel-Agudo said.
The Public-Private Partnership Authority issued a reminder Tuesday to central government agencies and Puerto Rico mayors of the Mar. 31 deadline to submit their proposals for potential Public Private Partnerships for evaluation.
Recent events related to the ongoing negotiation between the Puerto Rico Electric Power Authority and its creditors, including an extension through March 31 of the restructuring support agreement, suggests there’s still room for consensual accords, Moody’s Investors Service said in an analysis released Thursday.
In his first presentation as the new head of Puerto Rico Trade and Export, Ricardo Llerandi on Thursday outlined the agency’s plans to “promote, encourage and facilitate the development of the local business class.”
The Commonwealth of Puerto Rico defaulted on $312 million in principal and interest due Feb. 1st by four credit-issuing entities, including constitutionally protected General Obligation bonds, the government confirmed Wednesday.
The Puerto Rico Treasury Department released Wednesday revenue collection numbers for December 2016 totaling $799.3 million, which represents a year-over-year decrease of $45.4 million.
Gov. Ricardo Rosselló sent a letter Wednesday to Acting-Secretary of Health and Human Services, Norris Cochran, advocating for increased funding to the Medicare Advantage plans operating in Puerto Rico, which serve over 570,000 elderly island residents including some of the most vulnerable among them.
The Puerto Rico Energy Commission on Tuesday issued an order establishing a reduction of 21 percent on the provisional rate that the Puerto Rico Electric Power Authority effected in August 2016.
Puerto Rico Economic Development and Commerce Department Secretary-designate Manuel Laboy-Rivera said Tuesday given the island’s fiscal crisis, he has already begun implementing the economic measures set forth by Gov. Ricardo Rosselló this week.
Gov. Ricardo Rosselló hit the ground running Monday, effecting six executive orders the same day he was sworn into his post as Puerto Rico’s 12th elected governor.
Gov.-elect Ricardo Rosselló on Wednesday re-appointed former Telecommunications Regulatory Board president Sandra Torres back to the post she held from 2009 to 2013.
The Puerto Rico Electric Power Authority announced Wednesday the payment of $192.5 million in interest on its power revenue bonds due on Jan. 1, 2017.
Governor-elect Ricardo Rosselló-Nevares moved forward Thursday with designations of cabinet members and for his team at La Fortaleza, including the new Executive Director of the Puerto Rico Tourism Co. and of Puerto Rico Trade and Export.
The Financial Oversight and Management Board for Puerto Rico sent a letter to the outgoing and incoming governors confirming, among other things, that the Commonwealth will face a deficit of $67.5 billion over the next 10 years.
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