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WASHINGTON<\/span>, March 29, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ — Main Street Bondholders applauds the ongoing support from leading Puerto Rican elected officials in support of a consensual solution to Puerto Rico’s<\/span> debt crisis despite actions by House Natural Resources Committee Chairman Rob Bishop<\/span> (R-UT) to adopt a Super Chapter 9 approach to debt restructuring, and undermining the progress towards a consensual deal and the Puerto Rican Constitution.<\/p>\n Unlike Bishop’s Super Chapter 9 legislation put forth in the U.S. House of Representatives, a consensual solution would assure continued interest payments on Puerto Rico’s<\/span> obligations consistent with the priority of bonds established by the Commonwealth’s Constitution, and would promote voluntary negotiations between the island and its bondholders.<\/p>\n Without local leadership in Puerto Rico<\/span>, it will be impossible to secure a consensual deal that balances the legal rights of bondholders with respect for the Puerto Rican Constitution. Efforts in Congress to impose the Obama Administration’s Super Chapter 9 plan, by any name, are a severe hindrance to this ongoing effort and undermine the Puerto Rican Constitution. <\/p>\n Here is what members of Main Street Bondholders have said about these leaders:<\/b><\/p>\n “I was pleased to see gubernatorial candidate and Popular Democratic Party leader, <\/i>Dr. David Bernier<\/i><\/a>, produce a thoughtful and comprehensive proposal to address the Puerto Rico<\/span> fiscal crisis \u2013 one which respects the Puerto Rican Constitution and supports a path forward for bondholders and the government to secure a consensual agreement,” <\/i>said Main Street Bondholders member, Teresa Garcia<\/span>. “It gives me hope that some of our political leaders understand the gravity of this situation for the island’s future financial integrity and for our people.”<\/i><\/p>\n Main Street Bondholders member Joaquin Garcia de la Noceda\u00a0said of gubernatorial candidate for the New Progressive Party Ricardo Rossell\u00f3, “<\/i>Ricky Rossell\u00f3’s commitment<\/i><\/a> to respecting the priority and protections afforded to bondholders by our Constitution is an example for all Puerto Ricans to follow. He and <\/i>Representative Jenniffer Gonz\u00e1lez Col\u00f3n<\/i><\/a> have made clear the necessity to respect and uphold the Puerto Rican Constitution.”<\/i> <\/p>\n Main Street Bondholders member Maria Milagros Rodriguez<\/span> said of Resident Commissioner, gubernatorial candidate and president of the New Progressive Party Pedro Pierluisi, “I’m encouraged that Resident Commissioner <\/i>Pedro Pierluisi has committed<\/i><\/a> to prioritizing the Constitution and applaud his call for the Government to continue working with bondholders to reach a consensual solution to this crisis.”<\/i>\u00a0<\/p>\n “<\/i>House Speaker Jaime Perello<\/i><\/a> and <\/i>Representative Rafeal ‘Tatito’ Hernandez<\/i><\/a> have been strong in their support for the rule of law and for continuing negotiations with bondholders like ourselves within the existing legal framework,” <\/i>said Main Street Bondholders member Milagros Rodriguez<\/span>. “I am very pleased that they have acknowledged our eagerness to remain at the table.”<\/i><\/p>\n