“Debt-ravaged Puerto Rico is in default after forking over only a fraction due in a bond payment, Moody’s said in a statement Monday afternoon. An agency associated the government of the island, a territory of the United States, only made a partial repayment Monday to creditors on bonds issued through the island’s Public Finance Corporation. Puerto Rico’s Government Development Bank, of which Public Finance is a subsidiary, paid only $628,000 of the $58 million due. The fractional payoff shows Puerto Rico’s deepening debt crisis. The commonwealth is desperately trying to restructure its $72 billion debt.”
http://www.usatoday.com/story/money/markets/2015/08/03/puerto-rico-default/31071407/
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