The losses from soured investments in Puerto Rico bonds are coming into focus for some of the world’s biggest mutual funds, and it is a brutal reckoning, the Wall Street Journal reported yesterday.
Puerto Rico in Distress
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Puerto Rico’s creditors are preparing for a lengthy fight to maximize their recoveries after its slide into bankruptcy, but other Wall Street investors are rooting for the U.S. territory to succeed in driving down its $73 billion debt load, The Wall Street Journal reported yesterday.
Puerto Rico's benchmark general obligation (GO) debt price fell to a record low in light trading as the prospect of a drawn-out restructuring of the island's $70 billion debt load spurred selling, Reuters reported yesterday.
There has been an exodus of families from Puerto Rico in the face of its economic collapse, so Luis Santaella School has a big problem: Only 146 children are enrolled compared with about 250 in the past, The New York Times reported today.