Puerto Rico is now facing a $16 billion financing gap over the next five years, up from the $14 billion originally projected in September.
The CEO of Puerto Rican insurance company Ambac fired back at his critics in an exclusive interview with CNBC.
Puerto Rico's debt crisis entered a new phase when two of the island's top insurers filed a lawsuit challenging a step taken to pay bondholders.
Bankruptcy policies lawmakers are considering for Puerto Rico could have a chilling effect on the muni bond market, according to a major investor.
Top officials for the commonwealth have confirmed that it will not be able to make two out of the 13 total payments due Monday to bondholders.
Puerto Rico's governor says that the island will default on its debt in January or May.
Puerto Rico's governor unveiled an extraordinary fiscal measure in order to avoid defaulting on its debt.
Money managers, value investors and analysts are eyeing Dec. 1, when $355 million of notes issued by the Government Development Bank come due.
Puerto Rico could be completely illiquid by November, pushing it closer to defaulting on major debt payments, top officials said.
Puerto Rico's Government Development Bank for Puerto Rico said "the discussions did not result in a mutually acceptable arrangement."