BTIG Analyst Sees Bond 'War' in Puerto Rico Debt Talks

The video discusses the financial crisis in Puerto Rico, focusing on the conflict between general obligation bondholders and Cofina sales tax bonds. The oversight board, established under the PROMESA act, is mediating discussions but faces challenges in reaching a consensual negotiation. With a looming May 1st deadline, the board may move towards a Title 3 bankruptcy-like process if negotiations fail. The fiscal plan, certified by the board, is under scrutiny from creditors and senators, who question its adequacy in addressing debt service needs. The government is accused of prioritizing essential services over debt payments, contrary to Puerto Rico's constitutional obligations.

What concerns have been raised by creditors and senators regarding the fiscal plan?

How does the current fiscal plan compare to the original plan proposed by Governor Ricardo Rozelle?