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S&P cuts PR ratings on Recovery Act, ‘mounting fiscal, economic challenges’
Issued: July 12, 2014
Standard & Poor’s Ratings Services downgraded Puerto Rico’s general obligation (GO) rating deeper into junk territory and cut a range of other...
Congressman wants answers in Doral case
Issued: July 12, 2014
A high-ranking Republican congressman has waded into the legal wrangling between the Puerto Rico government and Doral Financial Corp. over $230...
PR creates government EB-5 center
Issued: July 12, 2014
The Puerto Rico government has enacted legislation to create a new public corporation ascribed to the Economic Development & Commerce Department...
PR to seek aid for moderate drought
Issued: July 11, 2014
The Puerto Rico government has declared a state of emergency to allow the U.S. territory to apply for federal aid to deal with abnormally dry...
Trial: dengue shot offers some protection
Issued: July 11, 2014
LONDON — The most advanced vaccine for dengue only offers modest protection but could still help millions of people avoid the devastating effects of...
Prepa driving force behind PR bankruptcy law
Issued: July 11, 2014
The administration of Gov. Alejandro García Padilla passed legislation enabling public corporations to use a bankruptcy-like process over concerns...
PR lottery rises to record $32M
Issued: July 11, 2014
Puerto Rico’s electronic lottery has risen to a record $32 million for Friday night’s drawing. ...
PR tax haul up 5.5% on corporate levies; $488M short of estimates
Issued: July 11, 2014
Puerto Rico tax revenues were up 5.5 percent in fiscal 2014 but trailed estimates by more than $488 million, the Treasury Department reported Friday. ...
PR reporter guest co-hosting ‘The View’
Issued: July 11, 2014
Puerto Rican TV reporter Ana Belaval is guest co-hosting ABC’s daytime talk show the “The View” next week. ...
Executive changes at OFG Bancorp
Issued: July 11, 2014
OFG Bancorp, the San Juan-based holding company for Oriental Bank, has announced some high-level executive changes. ...
Pierluisi eyes bankruptcy code changes
Issued: July 10, 2014
Resident Commissioner Pedro Pierluisi is eyeing changes to the U.S. Bankruptcy Code to allow Puerto Rico government entities to restructure their...
Feds bust PR mayor for corruption
Issued: July 10, 2014
Río Grande Mayor Eduard Rivera Correa was arrested Thursday on federal corruption charges ties to a kickback scheme involving municipal contracts. ...
New auto sales slide 15.7% in June
Issued: July 10, 2014
Local new auto sales hit the third straight speed bump and the sixth over the past seven months in June, which is traditionally a solid month for the...
S&P slashes Prepa rating by 4 notches
Issued: July 10, 2014
Standard & Poor’s Ratings Services pushed the credit rating of the Puerto Rico Electric Power Authority (Prepa) further into junk bond territory...
PR jitters drive out Assured, MBIA CDS
Issued: July 10, 2014
Ongoing news over Puerto Rico’s debt woes is leading to wider credit default swap (CDS) spreads for two of the largest monoline insurers, according to...
PR McDonald’s franchisees file FTC complaint
Issued: July 10, 2014
McDonald’s Corp.’s franchisees in Puerto Rico are challenging the fast-food giant’s 2007 sale of its stores on the island to Argentina-based Arcos...
Urban Train cuts, fare hikes on line
Issued: July 10, 2014
The cash-strapped Highways & Transportation Authority is moving closes to raising Urban Train fares and other fees as the cash-strapped public...
Fitch downgrades PR’s GO debt, cuts top-rated Cofinas into junk
Issued: July 9, 2014
Fitch Ratings has cut Puerto Rico’s general obligation bonds deeper into junk territory and dragged top-rated sales tax bonds down with them after the...
Blattner Energy opens office in PR
Issued: July 9, 2014
Blattner Energy, a power generation contractor and provider of renewable energy construction in North America, is tapping deeper into the Puerto Rico...
3 whales die along PR’s coast
Issued: July 9, 2014
Government officials in Puerto Rico are investigating the deaths of three pilot whales that stranded themselves in the island’s southwest region. ...
Hoyer: Congress open to helping PR
Issued: July 9, 2014
Congress is open to weighing assistance to Puerto Rico as the island grapples with a deep fiscal crisis amid a marathon economic downturn, a veteran...
Casa Pitusa Muebles files for Chapter 11
Issued: July 9, 2014
Furniture chain Casa Pitusa Muebles y Enseres has filed for bankruptcy. ...
EPA settles with PR auto crushing company
Issued: July 9, 2014
The U.S. Environmental Protection Agency has reached a legal settlement with W.R. Recycling of Cabo Rojo, Puerto Rico, resolving alleged violations of...
Prepa gets breathing room from banks
Issued: July 9, 2014
The Puerto Rico Electric Authority has negotiated a deal with creditors to postpone payments on lines of credit, giving the cash-strapped government...
Moody’s affirms ratings of PR banks
Issued: July 9, 2014
Moody’s Investors Service has affirmed all the ratings of three Puerto Rican banks in the wake of its deep downgrade of the island government’s...


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