Bronx Borough President Ruben Diaz Jr. on Thursday sent a letter, in conjunction with more than 100 elected officials from across the nation, demanding immediate action from Congress to enact legislation that will allow Puerto Rico to enter bankruptcy.
OppenheimerFunds and Franklin Advisers, which represent Public Finance Corporation bondholders, sent a letter to Puerto Rico government officials demanding that they take “all necessary actions” to make the $58 million payment missed this week.
Investors in Puerto Rico debt got double-whammied by the island’s government Monday, which missed a $58 million debt payment as it had predicted it would, and separately told creditors it has temporarily suspended monthly deposits to its General Obligation (GO) bonds redemption fund.
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