Puerto Rico News Digest For May 12, 2016

AGP MEETS WITH CREDITORS IN NYC

From News Is My Business:

"Puerto Rico Gov. Alejandro García-Padilla met with a group of unidenti-
fied advisors to the Commonwealth’s creditors to communicate, first hand,
the need for Puerto Rico reach a broad restructuring of its $70 billion public
debt to sustainable levels, his office said Tuesday. At the meetings, the go-
vernor emphasized that Puerto Rico is only willing to accept agreements lea-
ding to “sustainable long-term restructuring that will result in economic gr-
owth for the island...”

US HOUSE BILL ON PR FACES DELAYS

From Reuters:

"Republicans on a U.S. House of Representatives panel said they were ma-
king progress on a Puerto Rico debt relief bill that will take the same basic
approach as an earlier failed version, despite cancelling plans to unveil new
legislation on Wednesday...House Democratic leadership now expects legis-
lation from the committee before the end of the week. Competing forces have
fought over the bill and raised concerns that creditor rights and long-establi-
shed municipal bond market hierarchy would be set aside in a broader plan to
fix Puerto Rico's festering debt problems that have resulted in a breakdown in
the island's social services..."

NPP REP WANTS PROBE OF JETBLUE DELAYS

From Caribbean Business:

"New Progressive Party (NPP) Rep. Uroyoán Hernández announced Wednes-
day that he filed a resolution seeking to investigate the complaints of several
JetBlue passengers about the allegedly constant delays of the airliner’s flights
departing from the Puerto Rico capital. “During the past few weeks, we’ve
heard dozens of Puerto Ricans who’ve made their voices heard,” Hernández
said. “Whole families have had to wait for hours in the airport terminal ascri-
bed to JetBlue...because there are no pilots available and they must be flown
in from Orlando, Florida, or due to a mechanical failure in the plane. There’s
always an excuse...”

GOVERNOR SAYS BUDGET READY 'SOON'

From The San Juan Daily Star:

"Gov. Alejandro García Padilla said Tuesday that the budget for the next fis-
cal year “is being worked on in a responsible way” and that it will be delive-
red to the Legislature “soon.” In a written statement distributed by La Forta-
leza, the governor said he is “close” to presenting the budget to the Legisla-
ture. The statement came after Senate President Eduardo Bhatia criticized La
Fortaleza for the tardiness in delivering the budget..."

Puerto Rico News Digest For February 19, 2016

MAN KILLED IN ISLA VERDE HIT & RUN

A 43-year-old Nebraska man identified by police as Justin Zakrzewski was killed
last night as he attempted to cross Román Baldorioty de Castro Expressway in Isla
Verde. Zakrzewski was struck by a car in the San Juan-bound lanes of Baldorioty
de Castro shortly after 4:00 AM. The driver did not stop. The Expressway was shut
down by police at around 7:30 AM. Anyone with information which could lead to
the driver who struck Zakrzewski is encouraged to call Puerto Rico Police at 787-
343-2020.

HOUSE HEARINGS ON PR SCHEDULED FOR FEB. 25

From Caribbean Business:

"On Feb. 25, the eighth and ninth congressional hearings on Puerto Rico
will be held. The first hearing, entitled “Puerto Rico’s Debt Crisis and
Its Impact on the Bond Markets,” will be held by the House Committee on
Financial Services, Subcommittee on Oversight and Investigations, at 10
a.m. Resident Commissioner Pedro Pierluisi has been invited to participate
in the hearing. The witnesses for the hearing are expected to be announced
in the coming days. The second hearing, “The U.S. Department of the Trea-
sury’s Analysis of the Situation in Puerto Rico,” will be a full committee hea-
ring before the House Natural Resources Committee, and is currently also
scheduled for 10 a.m. Pierluisi will also be participating in the discussion."

PR DUE TO IMPORT ALL BLOOD DUE TO ZIKA

From Reuters:

"New guidelines barring the collection of blood in areas with outbreaks of the
 mosquito-borne Zika virus will be put to the test first in cash-strapped Puerto
Rico, where health officials have two weeks to start importing the island’s su-
pply. The U.S. Food and Drug Administration said earlier this week that areas
with active domestic transmission of Zika virus should stop collecting blood
locally. Puerto Rico has reported  a small number of cases of local transmission,
and U.S. health officials expect many thousands of residents to be infected once
the mosquito season reaches its peak this summer..."

FEDS CAPTURE 14 CUBANS ON MONA ISLAND

From Breitbart:

"The Air and Marine unit of the U.S. Customs and Border Protection (CBP)
service along with agents of the U.S. Border Patrol apprehended 14 Cuban
refugees on Mona Island, Puerto Rico. The Cubans had recently completed
a very dangers boat trip from Cuba through the treacherous Mona Passage...
Puerto Rican park rangers notified the Border Patrol station about the landing
of the boat with a group of illegal immigrants on-board. The boat was carrying
12 males and 2 females who all claimed to be Cuban nationals..."

T-MOBILE GROWS 10% IN 2015 IN PUERTO RICO

From News Is My Business:

"T-Mobile Puerto Rico executives said Thursday the wireless carrier experien-
ced a 10 percent growth on the island in 2015, while the industry as a whole
shrank by 2 percent. During the last quarter of the year, the carrier claims to
have achieved twice the sales of its nearest competitor...Washington-based pa-
rent company announced quarterly results this week, reporting a 1.1 percent in-
crease in total revenue during the fourth quarter of 2015, and an 8.4 percent jump
year-over-year for the 12-month period. The carrier reported adjusted EBITDA
of  $2.3 billion during the last quarter of 2015, and $7.4 billion for the year..."

Puerto Rico News Digest For February 1, 2016

SEVEN MURDERS OVER THE WEEKEND

Several killings over the weekend have driven the murder total in Puerto
Rico for the month of January to a total of 50. In Fajardo,  37-year-old Elis
M. Iglesia Rivera was shot to death at a pub around 10 PM on Sunday night.
A second man was injured in that shooting. Earlier that day, an anonymous
tip alerted Police to the murder of 26-year-old Ángel Núñez Hernández, who
was found dead on road PR-852 in Trujillo Alto. The other five killings regis-
tered this past weekend occured in Canóvanas, Cidra, Gurabo and Río Piedras,
where two murders were reported.

POLICE ARREST THREE IN PROSECUTOR MURDER

From The San Juan Daily Star:

"Puerto Rico police arrested three suspects and are looking for a fourth in the
murder of San Juan prosecutor Francelis Ortiz Pagán, officials announced Thurs-
day. The motive of the murder was an attempted carjacking, said Police Super-
intendent José Caldero. The authorities declined to identify the suspects in cus-
tody until charges were formally filed in court, Caldero said. The fourth suspect
has been identified as Rafael Aponte Peña. Ortiz Pagán was shot once in the face
and once in the back when she arrived at her Río Grande home in a white Mini
Cooper just after midnight on Tuesday, Jan. 19..."

PR RELEASES DEBT RESTRUCTURING PLAN

From Caribbean Business:

"As previously anticipated by Caribbean Business, the Puerto Rico government
has made public its debt-restructuring plan, a voluntary exchange proposal that
would reduce the commonwealth’s tax-supported debt from $49.2 billion to $26.5
billion and provide debt-service relief during the next few years, according to a
government statement released Monday morning. The commonwealth is now pro-
posing to creditors that they exchange their existing bonds for two new types of
security: a base bond, with a fixed interest rate and an amortization schedule; and
a “growth bond,” which is payable only if government revenues exceed certain
levels. The new securities would also provide enhanced credit protections, such
as a commonwealth guarantee and statutory liens and pledges with respect  to cer-
tain revenues..."

US HOUSE HOLDS PR HEARING TOMORROW

From News Is My Business:

"The U.S. House Subcommittee on Indian, Insular and Alaska Native Affairs
Committee will hold an oversight hearing on Feb. 2 to provide commentary on
a possible solution to the Puerto Rican debt crisis, emphasizing on improved
management policies and long-term sustainability...Witnesses will testify at this
hearing about the serious immediate challenges facing Puerto Rico and explore
possible short-term and long-term solutions, according to the memo the commi-
ttee chaired by Republican Rep. Don Young..."