Hints and tips:
...Mr García Padilla has emphasised that he will prioritise essential public services over bondholder payments....
...Following back-to-back sessions of late-night debate, the island’s House of Representatives passed legislation giving governor Alejandro García Padilla the power to declare a state of emergency and halt...
...Melba Acosta Febo, president of the GDB, said that rumours that the bank would be shut down or privatised were false and that it intended to continue to negotiate with its creditors....
...The Working Group, which includes the head of the Government Development Bank, Melba Acosta-Febo, and Victor Suarez, Mr Padilla’s chief of staff, targeted $47bn of the territory’s bonds for restructuring...
...Melba Acosta Febo, president of the GDB, said the failure “reflects the serious concerns about the Commonwealth’s liquidity in combination with the balance of obligations to our creditors and the equally...
...At the end of June, Puerto Rico governor Alejandro García Padilla admitted that the island’s debt was “not payable”....
...Last month, governor Alejandro Garcia Padilla said his government would seek to restructure its liabilities, adding that creditors would have to “share the sacrifices” with the island’s residents....
...Puerto Rico’s treasury secretary, Melba Acosta Febo, and GDB chairman, David Chafey, said they were disappointed over S&P’s decision....
International Edition