Puerto Rico bond guarantors are seeking to replace the leaders of the island’s electric-power monopoly with a receiver and shift control over the bankrupt public corporation ahead of a planned privatization, WSJ Pro Bankruptcy reported. Assured Guaranty Corp., MBIA Inc. and Syncora Guarantee Inc.
Puerto Rico in Distress
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According to a new study commissioned by the Youth Development Institute of Puerto Rico and presented in Congress last week, 30 percent of Puerto Rican families with children lost their jobs or had their work hours reduced after the hurricane, according to an opinion piece published by The Hill.
Puerto Rico Governor Ricardo Rossello flew to New York this week on a mission: persuade potential tourists that the hurricane-ravaged island was ready for their return, the New York Times reported.
Two major holders of Puerto Rico bonds that opposed a restructuring deal for the bankrupt U.S. commonwealth’s Sales Tax Financing Corporation (COFINA) revenue bonds are now part of the agreement, the island’s federally appointed oversight board announced on Friday, Reuters reported.
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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.