Puerto Rico passed the so-called Recovery Act last year to give certain public corporations, with around $20 billion in debt, the ability to restructure financially in an orderly process. Puerto Rico is currently struggling with a total debt load of around $72 billion, which it says it is unable to pay. The Recovery Act was struck down by a federal court in Puerto...» Read More
S&P upgraded California's general obligation debt on Thursday to "AA-" from "A+," marking another sign of the state's financial recovery.
Alexandra Lebenthal, Lebenthal Holdings, joins "Power Lunch" to discuss Puerto Rico's bond crisis.
July 1- Municipal bond researchers at Franklin Templeton, whose funds are among the largest owners of Puerto Rico debt, on Wednesday predicted a "long and costly" legal battle as the Caribbean nation tries to restructure more than $70 billion in obligations. "At the very least, in our assessment, Puerto Rico can expect creditors to seek legal affirmation and...
FRANKLIN TEMPLETON ANALYSTS DON' T SEE PUERTO RICO'S PROBLEMS SPILLING OVER INTO THE REST OF U.S.
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CNBC's Kate Kelly reports utility company PREPA is nearing a deal to cover a $416 million payment.
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CNBC's Kate Kelly reports on whether the island is likely to make interest payments on nearly $2 billion in loans.
OppenheimerFunds, the largest holder of Puerto Rico debt, warned the island it stands ready to defend the terms of bonds it holds.
Discussing the debt issues in Puerto Rico, and the outlook for bond holders, with Michael Pepe, JHS Advisors, and Oliver Pursche, Bruderman Brothers CEO. Pepe has the trade.
With Puerto Rico saying it can't pay its $72 billion debt, bond investors worry whether bond insurers can cover a looming default.
NEW YORK, June 30- U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municpal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments. Puerto Rico's Governor Alejandro Garcia Padilla could be heading toward a fight...
NEW YORK, June 30- Puerto Rico's bonds fell sharply for a second straight session on Tuesday, a day after the island's governor said he wanted to restructure debt and postpone bond payments for years, as investors speculated about which classes of the securities were most at risk. Almost 10 percent of municipal bonds that traded Monday were Puerto Rico- related,...
CNBC's Jim Cramer explains why Puerto Rico is the big story concerning investors at this moment.
One report notes that Puerto Rico's close association with the United States is both a benefit and a curse when it comes to the island's economy.
June 30- Standard& Poor's Ratings Services lowered its credit rating on Puerto Rico to' CCC-minus' from' CCC-plus', hours after Governor Alejandro Garcia Padilla said the U.S. territory needed a period of bankruptcy to restructure its debt. Former IMF staffers-- engaged by Government Development Bank, Puerto Rico's financing arm-- issued a damning report on Sunday...
Alexandra Lebenthal, Lebenthal Holdings president & CEO, weighs in on the main issues surrounding Puerto Rico's municipal bond woes.
NEW YORK, June 29- To restructure government debt Puerto Rico will need to reach a negotiated settlement with creditors or modify its constitution, a long and complicated undertaking that may not succeed. "If they go to any holders of debt and say do you want to swap this for that, that doesn't necessarily imply any changes," said Charles Blitzer, who advises funds on...
Puerto Rico's bond crisis is raising questions close to home. Alexandra Lebenthal of Lebenthal & Company, provides perspective.
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