Puerto Rico bond negotiations slog toward seventh year

Link: https://fixedincome.fidelity.com/ftgw/fi/FINewsArticle?id=202101251023SM______BNDBUYER_00000177-2bc5-dd67-a377-7bede5980001_110.1


Negotiations on Puerto Rico?s central government and electric power authority debts have extended for several years, leaving participants with clashing views of the length of time they have taken and the lack of resolution of the island’s debts.

A Feb. 10 deadline looms for the Oversight Board to at least submit a bond deal resolution proposal and several participants expect progress in the coming year.

Since the signing of PROMESA, the Puerto Rico Oversight, Management, and Economic Stability Act, Puerto Rico has been hit or at least shaken by Hurricane Maria, political protests forcing the exit of Ricardo Rossell?, earthquakes, and the COVID-19 pandemic.

Author: Robert Slavin

Publication Date: 25 January 2021

Publication Site: Fidelity Fixed Income