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  • Puerto Rico to miss debt payment, signalling default Friday, 31 Jul 2015 | 8:10 PM ET
    The Puerto Rican flag flies near the Capitol building as the island's residents deal with the government's $72 billion debt on in San Juan, Puerto Rico

    Puerto Rico will miss a debt repayment Saturday, the government confirmed, as one of the largest ever US municipal debt restructurings beckons.

  • CHICAGO, July 31- Budget deficits are projected to persist for Chicago as pension and debt costs gobble up more revenue, according to an annual financial analysis released by the city on Friday. If Illinois fails to enact legislation easing Chicago's payments to its public safety retirement systems, the deficit could be even higher. Chronic structural budget...

  • Puerto Rico debt relief? It's tricky: Expert Friday, 31 Jul 2015 | 4:03 PM ET
    A rundown building in Old San Juan, Puerto Rico.

    Puerto Rico faces two options to resolve its debt crisis, and both look difficult as a payment deadline looms, one expert said.

  • NEW YORK, July 31- Puerto Rico on Friday planned to cover a payment due on debt owed by its development bank, a source familiar with the matter said, but the U.S. territory may still be short of the funds needed to pay all of the obligations due on Saturday. But Puerto Rico is expected to default on a $58 million payment on Public Finance Corporation bonds due Saturday...

  • Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt- totaling $72 billion- was unpayable and required restructuring. Puerto Rico has flagged that it will likely skip a $58 million payment due Aug. 1 on its Public Finance Corporation debt, which has weaker investor protection than some other bonds.

  • Puerto Rico nears default as debt reform beckons Friday, 31 Jul 2015 | 6:21 AM ET
    Puerto Rico capitol building

    Puerto Rico's expected default on debt due Saturday would be the start to what could end up becoming one of the largest municipal restructurings.

  • Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt- totaling $72 billion- was unpayable and required restructuring. Puerto Rico has flagged that it will likely skip a $58 million payment due Aug. 1 on its Public Finance Corporation debt, which has weaker investor protection than some other bonds.

  • Puerto Rico bonds: Great upside, but buyer beware Thursday, 30 Jul 2015 | 3:40 PM ET
    A Puerto Rican flag flies from a building in San Juan, Puerto Rico.

    High-yield Puerto Rican bonds hold upside, but big risks remain as the commonwealth could fail to meet its next payment deadline.

  • Puerto Rico's cash crunch Thursday, 30 Jul 2015 | 3:08 PM ET
    Puerto Rico's cash crunch

    CNBC's Kate Kelly reports on Puerto Rico's debt problems, and whether the Public Finance Corp. can come up with the money to pay its bondholders.

  • Safest muni investments Thursday, 30 Jul 2015 | 2:12 PM ET
    Safest muni investments

    Discussing Puerto Rico bonds and opportunities in the municipal bond market, with Daniel Solender, Lord Abbett partner.

  • Why Puerto Rico's debt crisis isn't contagious Thursday, 30 Jul 2015 | 12:30 PM ET
    A delivery man pushes a cart through a street of San Juan, Puerto Rico.

    Puerto Rico's growing debt crisis has raised fears about the safety of the municipal bond market, but those fears may be overblown.

  • CHICAGO, July 29- Chicago Mayor Rahm Emanuel on Wednesday proposed more than $2.5 billion of bond sales even as the city faces big budget deficits and the possibility that its already-low credit ratings could fall further. Under ordinances proposed to the city council, Chicago would sell up to $2 billion of senior lien general airport revenue bonds with $1.7...

  • Muni bonds: When does it make sense to go local? Wednesday, 29 Jul 2015 | 7:00 AM ET
    Workers extend an overpass on the New Jersey Turnpike in Bordentown.

    Many financial planners steer wealthy clients to municipal bonds as safe, tax-smart investments, but they can carry some unforeseen risks.

  • NEW YORK, July 29- Investors in U.S. municipal bonds are sitting on more cash than they have in years, in part because they're wary of the $3.7 trillion market at a time when interest rates are expected to rise. Between March 2014 and March 2015, cash rose by $6.2 billion to $31.9 billion, the biggest such jump in at least 10 years. "A lot of my investors who've been with me...

  • Puerto Rico default Q&A: 'Sell right now' Tuesday, 28 Jul 2015 | 11:18 AM ET
    The Puerto Rican flag flies near the Capitol building as the island's residents deal with the government's $72 billion debt on in San Juan, Puerto Rico

    As another key debt payment date closes in, here's a primer on what you should know, and who it will impact the most ahead of this week's deadline.

  • Yields reach 5.77 pct in initial Chicago bond pricing Thursday, 16 Jul 2015 | 10:02 AM ET

    CHICAGO, July 16- Underwriters initially priced $347 million of Chicago tax-exempt general obligation bonds on Thursday, with yields topping out at 5.77 percent for bonds due in 2039 with a 5.50 percent coupon, according to a pricing scale obtained by Reuters. Chicago is selling the tax-free bonds a day after nearly $743 million of taxable GO bonds were priced...

  • Puerto Rico fails to pay bond interest & principal Thursday, 16 Jul 2015 | 6:17 AM ET
    Capitol building in San Juan

    Puerto Rico failed to transfer funds to pay the principal and interest on its bonds, as the island tries to restructure its debt.

  • Pension fallout hits Chicago bonds, Cook County tax rate Wednesday, 15 Jul 2015 | 5:46 PM ET

    CHICAGO, July 15- The inability to curb public pension costs in Illinois led its biggest county to hike the sales tax rate on Wednesday and left its largest city, Chicago, facing hefty interest rates for its bonds. Underwriters priced nearly $743 million of taxable Chicago general obligation bonds with yields topping out at 7.98 percent for debt maturing in...

  • NEW YORK, July 13- Puerto Rico pleaded with creditors on Monday not to engage in lengthy litigation over its $72 billion debt, but provided little information about how a debt restructuring would affect them. Some top bondholders have already taken Puerto Rico to court over a restructuring law passed last summer which would have affected the island's public...

  • Puerto Rico bondholders meeting kicks off Monday, 13 Jul 2015 | 2:43 PM ET
    Puerto Rico bondholders meeting kicks off

    CNBC's Kate Kelly reports from the Citigroup building in Manhattan where hundreds of people are expected to hear about Puerto Rico's debt situation.