Puerto Rico

Evertec Inc (NYSE: EVTC), a Puerto Rican transaction processing company, has seen its stock gain 15 percent over the past three months, prompting Goldman Sachs to announce its bear thesis was "wrong." The Analyst Goldman Sachs' James Schneider upgraded Evertec's stock...

Street estimates for Evertec Inc (NYSE: EVTC), which operates full-service transaction processing in Latin America and the Caribbean, may not be reflect the company's risks, according to Goldman Sachs.  The Analyst Goldman Sachs analyst James Schneider downgraded Evertec from...

Shares of Popular Inc (NASDAQ: BPOP), a financial holding company with exposure to Puerto Rico, has fallen more 15 percent since Sept. 18, but this has created a compelling buying opportunity, according to analysts at Barclays. The firm's Matthew Keating upgraded Popular's stock rating from Equal-...

Puerto Rico bonds took a huge hit last week when President Trump suggested the U.S. government may eliminate the nation’s debt in wake of its ongoing financial crisis. “They owe a lot of money to your friends on Wall Street, and we’re going to have to wipe that out,” Trump...

Puerto Rico is looking for answers to its devastating blackouts and leveled energy infrastructure. And Tesla Inc (NASDAQ: TSLA), the world’s panacea, is as eager as ever to be the solution. CEO Elon Musk responded Thursday to calls for intervention by confirming Tesla’s capacity to meet...

Earlier this month, 97 percent of Puerto Ricans who participated in a non-binding referendum voted in favor of Puerto Rico becoming the 51st U.S. state. Puerto Rico has been officially classified as a U.S. commonwealth since it was annexed during the Spanish-American War of 1898. The territory has...

Puerto Rico’s bankruptcy, with $74 billion in debt at stake, is the largest municipal default in history. Despite the scope of the U.S. territory’s financial troubles, one of the bond business’ most respected analysts said Puerto Rico's debt is unlikely to break the foundation...

Puerto Rico’s restructuring of $73 billion in debt — a bankruptcy four times the size of Detroit’s — has been a long time coming, analyst Cate Long said on Benzinga’s PreMarket Prep morning show Thursday. The territory’s bankruptcy is not a Chapter 9 filing, as...

Congress has until midnight on Friday night to avoid a partial government shutdown by passing a spending bill to fund government operations. While most investors are hoping to avoid the headache of a shutdown, at least one class of investors may be hoping negotiations continue to be hard-fought....

The Puerto Rico Electric Power Authority (PREPA) has agreed to a new debt deal with its creditors, but the U.S. territory is still teetering on the brink of bankruptcy. Earlier this month, PREPA and its creditors agreed to restructure $8.9 billion in debt in a deal that would save $2.2 billion over...

This election season, companies like Microsoft Corporation (NASDAQ: MSFT), General Electric Company (NYSE: GE) and Apple Inc. (NASDAQ: AAPL) have been criticized by both candidates for the massive cash hoards the companies have stashed overseas to avoid U.S. taxes. The companies claim U.S....

On July 1, 2016, Puerto Rico will default on more than $1 billion in general obligation bonds, the island's senior credits protected by a constitutional lien on revenues. -Puerto Rico Governor Alejandro García-Padilla. On Wednesday, García-Padilla wrote an article for CNBC...

Given Popular Inc (NASDAQ: BPOP)'s excess capital and valuation discount to U.S. peers, Barclays’ Matthew J. Keating believes the stock offers an “interesting” intermediate term investment option. Keating initiated coverage of Popular with an Equal-Weight rating and price target...

Puerto Rico's government is facing a lawsuit in New York by a group of hedge funds, which claim the U.S. territory is misusing an emergency fiscal-crisis law to avoid payments on a $3.5 billion in bonds. Puerto Rico approved "The Emergency Moratorium and Financial Rehabilitation Act" in April,...

Things keep going from bad to worse in debt-swamped Puerto Rico. The island nation missed yet another round of debt payments on Monday, and many investors are concerned about the ultimate impact of a financial collapse in Puerto Rico. In a new interview with WNYC, Puerto Rico Clearinghouse’s...