“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/
Related posts:
Fugitive Chris Dorner against the LAPD: ‘He knows what he’s doing. We trained him’
Dutch chemical trader ordered to pay victims of Saddam Hussein’s gas attacks
Mad Latvia defies its own people to join the euro
Talk of CIA prisons censored at Guantanamo hearing
Left In The Dark: Copper Thieves Rob Detroit Freeways Of Light
Sessions Says to Courts: Go Ahead, Jail People Because They’re Poor
Former Bank of England Economist: Make Cash Illegal
Cameron Announces U.K. Plans for Debut Issue of Islamic Gilts
Lawsuit Accuses Fired Utah Trooper of Falsifying D.U.I. Arrests
Robber faces murder charge for victim's shooting of his accomplice
Arkansas man gets prison term for smuggling paddlefish 'caviar'
Suspected meth lab turns out to be sweet maple syrup
New U.S. Sanctions Imposed on Iran to Halt Gold Trading
A war the Pentagon doesn’t want
Judge: California can force-feed inmates on hunger strike