GAO finds $1.9B Puerto Rico surplus, warns of unresolved PREPA debt
July 1, 2025
While Puerto Rico strengthens its financial position, pending electric utility restructuring and population loss remain key threats to long-term stability. #NewsismyBusiness
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Puerto Rico resident seeks class action over alleged debt collection violations
April 29, 2025
The plaintiff’s attorneys argue that more than 1,000 people could be eligible to join the proposed class. #NewsismyBusiness
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PREPA bondholders insist on being paid $3.7B that doesn’t exist
April 25, 2025
Puerto Rico’s electrical system has failed to resolve core underlying problems that drove it to physical and financial ruin. #NewsismyBusiness
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Puerto Rico consistently ranks last in ‘State of the States’ analysis
February 7, 2025
Puerto Rico remains a significant outlier; its 59% liabilities-to-GDP ratio is nearly double that of any other state. #NewsismyBusiness
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Most consumers plan to take on debt this holiday season
December 2, 2024
Recent debt data for Puerto Rico indicates that local consumers are likely to take on additional debt this holiday season. #NewsismyBusiness
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Survey: Demand for credit counseling in Puerto Rico rises by 167%
October 22, 2024
Credit card debt and inflation are pushing more people in the U.S. and Puerto Rico into financial stress. #NewsismyBusiness
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Workers fear retirement more than death, survey finds
September 23, 2024
A LiveCareer survey reveals widespread financial anxiety and concerns over lifestyle changes. #NewsismyBusiness
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Puerto Rico bankruptcies up nearly 20% YOY in August
September 12, 2024
So far this year, 3,710 petitions have been filed at the U.S. Bankruptcy Court, representing a 33.9% jump when compared to the same period last year. #NewsismyBusiness
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IEEFA: Puerto Rico utility’s annual budget deficits persist after 6 years of federal oversight
April 8, 2024
The U.S.-based clean energy think tank warns a potential $2.5 billion bond issue for PREPA could significantly impact the financial burden on households. #Newsismybusiness
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Fitch affirms Liberty Communications of Puerto Rico ratings at ‘BB-’
March 13, 2024
Its negative outlook remains due to “slower pace of deleveraging than initially expected and high competition.” #NewsismyBusiness
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IEEFA: Oversight Board warns Puerto Rico bonds could be worthless
February 7, 2024
In July 2017, the Oversight Board rejected a debt agreement for PREPA, explaining that the deal was not in the best interests of Puerto Rico. #NewsismyBusiness
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Urban Edge Properties cuts $44M in debt for Las Catalinas Mall property
September 1, 2023
The company secured a new 10-year $82 million mortgage provided by Banco Popular de Puerto Rico. #NewsismyBusiness
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Op-Ed: New Puerto Rico bond deal: Another unsustainable transaction that makes matters worse
December 23, 2022
A careful review of the 400 pages of explanation and the 96-page plan confirm why this plan is unsustainable.
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Gov’t restructures $131M in CRIM obligations to municipalities
August 8, 2022
The debt is related to loans that the CRIM was granted in 2001 and 2002.
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Op-Ed: PREPA debt plan, a gimmick to use federal funding to pay off legacy debt
March 8, 2022
IEEFA says PREPA's debt plan prioritizes bondholders at the expense of building reliable energy and future oversight is needed.
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