U.S. House to explore solutions to P.R.’s debt crisis
February 1, 2016
The U.S. House Subcommittee on Indian, Insular and Alaska Native Affairs Committee will hold an oversight hearing on Feb. 2 to provide commentary on a possible solution to the Puerto Rican debt crisis, emphasizing on improved management policies and long-term sustainability.
chat_bubble0 Comment
visibility3404 Views
PREPA, bondholders return to negotiating table
January 28, 2016
The Puerto Rico Electric Power Authority and its bondholder group announced this morning they have resumed talks, after walking away from the table nearly a week ago.
chat_bubble0 Comment
visibility2986 Views
46 U.S. Democratic lawmakers press for action for P.R.
January 28, 2016
U.S. Senator Maria Cantwell (D-Wash.), ranking member of the Senate Energy and Natural Resources Committee, along with Minority Leader Harry Reid and 44 other Democrats and Independents in the Senate, wrote to Leader Mitch McConnell urging bipartisan, legislative action to give Puerto Rico access to the appropriate financial restructuring tools.
chat_bubble0 Comment
visibility3466 Views
Impact of 900 co.’s under Laws 20/22 pegged at $1.4b
January 27, 2016
In the two years since the government passed Laws 20 and 22, some 900 companies have gotten decrees and generated more than $1.4 million in economic activity in Puerto Rico through new operations and exports, a study revealed Tuesday by the Economic Development and Commerce Department showed.
chat_bubble0 Comment
visibility2663 Views
Science Trust breaks ground on $10M Laboratory Road
January 22, 2016
The Puerto Rico Science, Technology and Research Trust on Thursday offered details about the start of construction of Laboratory Road, a $10 million project that will be the main thoroughfare that will provide access to Science City facilities.
chat_bubble0 Comment
visibility3996 Views
U.S. Congress to hold 7th hearing on P.R. on Jan. 26
January 20, 2016
The Subcommittee on Indian, Insular and Alaska Native Affairs of the U.S. House Natural Resources Committee will hold a hearing on Jan. 26, to analyze Puerto Rico’s fiscal crisis.
chat_bubble0 Comment
visibility3929 Views
GDB: P.R. will be $923M in the red by summer
January 19, 2016
Puerto Rico will be $923 million in the hole by summer if it meets all of its upcoming obligations, including debt service payments and payments to suppliers, as the fiscal crisis tightens its grip on the island’s finances.
chat_bubble0 Comment
visibility3376 Views
P.R. gov’t adjusting budgets to bridge revenue shortfall
January 14, 2016
The government of Puerto Rico is making budget adjustments amounting to some $254 million, which is about half of the shortfall in revenue collections the Treasury Department anticipated late last year.
chat_bubble1 Comment
visibility3602 Views
U.S. House energy committee scrutinizes PREPA deal
January 13, 2016
WASHINGTON — A restructuring deal between the deeply indebted Puerto Rico Electric Power Authority and most of its creditors came under scrutiny during a Tuesday oversight hearing here by the House Subcommittee on Energy and Mineral Resources.
chat_bubble1 Comment
visibility4702 Views
García-Padilla: P.R. to make most of debt payment in Jan.
December 31, 2015
The government of Puerto Rico will make most of its $1 billion debt payment due Jan. 1, defaulting only on some $37 million of the amount, Gov. García-Padilla said Wednesday.
chat_bubble0 Comment
visibility4341 Views
Puerto Rico’s economic activity drops 0.5% YOY in Nov.
December 30, 2015
Drops in electric power generation, gasoline consumption and cement sales kept Puerto Rico’s economic activity in negative territory in November, according to the Government Development Bank’s Economic Activity Index (GDB-EAI) released Tuesday.
chat_bubble0 Comment
visibility3067 Views
PREPA, creditors agree to financial restructuring plan
December 24, 2015
The Puerto Rico Electric Power Authority announced early Thursday that it has reached an agreement with creditors holding approximately 70 percent of its financial debt.
chat_bubble0 Comment
visibility3934 Views
Treasury may still collect from bankrupt businesses
December 22, 2015
The offensive launched by the Puerto Rico Treasury Department in November to crack down on retailers that collected sales and use tax revenue, but failed to remit it to the agency has unleashed a string of bankruptcy filings by those businesses, which appear to have turned to the court for protection.
chat_bubble0 Comment
visibility3299 Views
Despite falling liquidity, gov’t to pay Christmas bonus
December 21, 2015
With an estimated $700 million in the Government Development Bank’s coffers and a Treasury Department that reported $488.6 million in revenue collections in November, Gov. Alejandro García-Padilla announced Sunday public sector employees will receive their Christmas bonuses, as established by law.
chat_bubble0 Comment
visibility3415 Views
PREPA saves $312M via operational ‘transformation’
December 16, 2015
In the 15 months it has been working with stateside firm AlixPartners, the Puerto Rico Electric Power Authority has accrued $162 million in annual benefits, plus another $150 million in one-time benefits through a comprehensive operational overhaul, Chief Restructuring Officer Lisa Donahue told board members Tuesday.
chat_bubble0 Comment
visibility3149 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA