The island's bankruptcy filings continued to drop in February, when 11 percent fewer cases were submitted to the court, versus the same month in 2011, according to preliminary numbers released Thursday by research company Boletín de Puerto Rico.

The island’s bankruptcy rate held on to its seventh consecutive monthly decline in October, when a total of 1,077 cases were submitted to the U.S. Bankruptcy Court. The figure represents 90 fewer filings and an 8.35 percent drop in comparison to the same month last year, research firm Boletín de Puerto Rico reported.