Standard & Poor's Ratings Services said Wednesday the legislation enacted giving Puerto Rico Gov. Alejandro García-Padilla the power to suspend debt service payments would lead to a further credit downgrade, to “default” status.
A decision by the Puerto Rico government to make the $354.7 million payment on Government Development Bank Senior Notes due today will come down to the wire and will depend on the outcome on talks ...
Puerto Rico is facing better odds of defaulting on its debt, Moody’s Analytics said Monday, adding that fiscal problems, high unemployment rate and a shrinking population are fueling the problem.
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