Late Sunday evening brought devastating news to Puerto Rico: in an interview with The New York Times, Governor Alejandro Garcia Padilla decided that the debt load of the territory is not payable. The interview, prompted by the...
Read MoreAfter insisting that his administration did not have a bill ready to submit to the legislature to reform the grossly unfunded public teacher’s retirement system, Governor Alejandro Garcia Padilla has announced he will call...
Read MoreYesterday Moody’s announced its downgrade of the Puerto Rico Electric Power Authority bond ratings from a Baa2 to Baa3 classification, with a negative outlook. Moody’s rationale for the downgrade is the belief that...
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