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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...
Digital art exhibition opening in SJ
Issued: July 9, 2014
Local plastic artist and advertising art director Jampi Miró will open an exhibition of his latest work under the title “Jampi: en Pixeles” at Galeria...
Bond insurers hire advisers on PR
Issued: July 8, 2014
Bond insurers MBIA Inc. and Assured Guaranty Ltd. have contracted restructuring advisers after the Puerto Rico government approved a law allowing...
PR debt law linked to other territories
Issued: July 8, 2014
Municipal Market Advisors is urging investors to sell U.S. Virgin Islands and Guam bonds if Puerto Rico’s new debt restructuring law survives legal...
Culebra residents protest ferry lapses
Issued: July 8, 2014
A group of Culebra residents jumped into the water to prevent a ferry from docking Tuesday to protest the Maritime Transport Authority’s spotty...
US budget bill cites PR fiscal woes
Issued: July 8, 2014
A budget bill working its way through Congress points to Puerto Rico’s deep fiscal crisis. ...
Brink’s pulling out of PR, USVI market
Issued: July 8, 2014
Brink’s is pulling the plug on its Puerto Rico and U.S. Virgin Island’s operation because of tough market conditions. ...
NASA: $750,000 for UPR researchers
Issued: July 8, 2014
The University of Puerto Rico has landed $750,000 in funding from NASA to research technologies for the purification of wastewater while generating...
Farmers: PR rice ending up as pig feed
Issued: July 8, 2014
Some of Puerto Rico’s government-subsidized rice crop is ending up as livestock feed after being tossed from school lunches, according to the Farmers...
Hollywood comedy to shoot in PR
Issued: July 7, 2014
A comedy starring Owen Wilson and Zach Galifianakis will shoot some scenes in Puerto Rico. ...
CPAs group urges sales tax increase
Issued: July 7, 2014
The Puerto Rico College of Certified Public Accountants is calling for an increase in the 7 percent sales & use tax (IVU) to boost government...


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