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  • Ambac CEO fires back over Puerto Rico strain Thursday, 14 Jan 2016 | 7:26 PM ET
    The Puerto Rican Capitol in San Juan

    The CEO of Puerto Rican insurance company Ambac fired back at his critics in an exclusive interview with CNBC.

  • Insurers throw latest punch in Puerto Rico fight Friday, 8 Jan 2016 | 2:27 PM ET
    The Puerto Rican Capitol in San Juan

    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.

  • US STOCKS-No gift for Wall Street on Christmas Eve Thursday, 24 Dec 2015 | 12:26 PM ET

    *Stock markets close at 1 p.m. ET. Dec 24- Wall Street was mixed on Thursday as a drop in energy stocks kept a lid on holiday cheer in a shortened Christmas Eve trading session. Equity markets will close at 1 p.m. EST on Thursday, ahead of the Christmas Day holiday on Friday.

  • NEW YORK, Dec 24- Puerto Rico needs debt restructuring authority under U.S. bankruptcy law to address what the Obama Administration has previously called an "escalating crisis," U.S. U.S. House of Representatives Speaker, Republican Paul Ryan, has instructed committees to work with Puerto Rico's government to come up with a solution to the island's financial...

  • Dec 24- U.S. stocks indexes were little changed on Thursday in a shortened trading session on Christmas eve, dragged down by energy stocks. Equity markets will close at 1 p.m. EST on Thursday, ahead of the Christmas Day holiday on Friday. I think we're going to trade in slow motion for most of the day, "said Peter Cardillo, chief market economist at First Standard...

  • SAN JUAN/ NEW YORK, Dec 18- Puerto Rico's debt-laden power utility, PREPA, has a tentative agreement with its bond insurers on a restructuring of its debt, according to two sources familiar with negotiations, but the deal is not official and still needs approval by PREPA's board. A spokesman for PREPA and a spokeswoman for Puerto Rico's government development bank...

  • Dec 18- Puerto Rico Electric Power Authority, the island's debt-laden power utility, reached a tentative deal with its bond insurers and certain bondholders to restructure debt, Bloomberg reported on Friday. PREPA's monoline insurers will provide an equity component that will offer about $450 million in the event of a default, Bloomberg reported citing two...

  • Dec 18- Puerto Rico Electric Power Authority, the island's debt-laden power utility, said it had extended to Friday a restructuring support agreement to allow a continuation of talks with its monoline bond insurers and supporting creditors. PREPA, facing more than $8 billion in debt, had said last Tuesday that it had extended the deadline for the restructuring...

  • SAN JUAN, Dec 1- Puerto Rico's power authority, PREPA, reached a tentative debt restructuring deal with bond insurers, two sources familiar with the matter said on Tuesday, but two Puerto Rican government sources said later there was no agreement. But on Tuesday night, a source close to PREPA and another close to Puerto Rico's Government Development Bank, both with...

  • Dec 1- Puerto Rico's power authority PREPA has reached a tentative debt restructuring deal with bond insurers including Assured Guaranty and MBIA Inc's National Public Finance Guarantee, according to two sources familiar with the matter. The deal still needs the approval of the PREPA board, the sources said, but has been signed by representatives for all...

  • Puerto Rico nears default as debt deadline looms Wednesday, 18 Nov 2015 | 10:49 AM ET

    Money managers, value investors and analysts are eyeing Dec. 1, when $355 million of notes issued by the Government Development Bank come due.

  • SAN JUAN, Oct 28- Insurers of Puerto Rico Electric Power Authority bonds on Wednesday delivered terms for a debt restructuring to the utility, moving it a step closer to an accord with its last key creditor class, a person with direct knowledge of the matter told Reuters. A spokeswoman for PREPA and its chief restructuring officer, Lisa Donahue, declined to comment.

  • NEW YORK, Oct 15- Puerto Rico's electric power authority, PREPA, has extended by one week an agreement with its bondholders and lenders that was to expire at the close of Thursday, while it is continuing to try to negotiate a deal with bond insurers who are holding out on a deal. Reducing PREPA's $9 billion in debt has been seen as a critical test for the U.S. territory as...

  • NEW YORK, Oct 1- Puerto Rico's electric power authority, PREPA, has extended by two weeks an agreement with its bondholders and lenders that was to expire at the close of Thursday, while it is continuing to try to negotiate a deal with its bond insurers, the utility said on Thursday. Reducing PREPA's $9 billion in debt has been seen as a critical test for the U.S....

  • NEW YORK, Oct 1- Puerto Rico's electric power authority is expected to extend a creditor agreement expiring at the end of Oct. 1 with a bondholder group, to allow debt restructuring negotiations with bond insurers to continue, a source familiar with the bondholders said on Thursday. Reducing PREPA's $9 billion in debt has been seen as a critical test for the U.S....

  • Sept 22- Puerto Rico's power authority PREPA said on Tuesday it reached a deal with lenders to restructure $700 million in matured debt, a key step in turning around the utility after it secured a similar deal with bondholders earlier in September. Reducing PREPA's $9 billion in debt has been seen as a critical test for the U.S. territory as it tries to forge a...

  • SAN JUAN, Sept 1- Puerto Rico's public utility PREPA and a key bondholder group have reached the framework of a debt restructuring deal that would include a repayment reduction, or a so-called haircut, of up to 15 percent for bondholders, three people close to the talks said. PREPA, buckling under $9 billion in total debt, has been trying to negotiate a restructuring...

  • Insured Puerto Rico debt holders in 'good shape'? Tuesday, 30 Jun 2015 | 3:15 PM ET
    A Puerto Rican flag flies from a building in San Juan, Puerto Rico.

    With Puerto Rico saying it can't pay its $72 billion debt, bond investors worry whether bond insurers can cover a looming default.

  • Investors scramble to avoid Puerto Rico losses Tuesday, 30 Jun 2015 | 11:56 AM ET
    San Juan Cemetery Puerto Rico

    Puerto Rico isn't turning out to be the golden investment opportunity hedge funds and other big money investors once thought it was.

  • Puerto Rico more important than Greece: Cramer Tuesday, 30 Jun 2015 | 10:25 AM ET
    A woman walks past clothes for sale and signs reading "Closing down sale" in Arecibo, Puerto Rico, June 29, 2015.

    CNBC's Jim Cramer explains why the Puerto Rico situation is more important than Greece or China.