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Will Puerto Rico Default?

U.S. Territory Puerto Rico is unable to pay it's debts, and is unable to find a viable solution. Will the Caribbean island default on its debt?

50% of writers and pundits say yes
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Will Puerto Rico Default?  

Writers and pundits who say or about the topic, "Will Puerto Rico Default?"
last 24 hours | bloombergview
Puerto Rico's Precarious Position Isn't So Unusual - Bloomberg View
"...Like a state, Puerto Rico can't go into bankruptcy, at least not in any familiar way. That leaves the question of a federal bailout. Here Puerto Rico seems worse off than the states -- because it isn't constitutionally represented in Congress, and its residents can't vote for president. Political support for a bailout would have to come from the bondholders alone.It's tempting to speculate that investors in Puerto Rican bonds were a bit like investors in Greek debt. Both in some sense counted on the entity acting like a normal member of the confederation to which it belongs. Surely a U.S. commonwealth wouldn't be allowed to amass so much debt that default became a realistic possibility. And surely a euro zone country wouldn't come to the brink of default, and beyond...." see full article

1319 days ago | businessinsider
Puerto Rico is not Greece - Business Insider

"...The island isn't eligible to declare bankruptcy, as it's a commonwealth rather than a municipality. As such, the situation has become messy for its creditors, which include major US mutual funds.Given all the hoopla surrounding Greece's economic problems, investors and Americans in general are no doubt also worried about the aftermath of Puerto Rico's potential default and what it means for them...." see full article

1324 days ago | money.cnn
Puerto Rico makes July 1 bond payments. No default - CNNMoney

"...Many had started referring to Puerto Rico as "America's Greece," but creditors are breathing a little easier now. Puerto Rico had several debt payments to make by Wednesday, and it has made them, according to government statements and spokesmen. Puerto Rico paid back $645 million of general obligation bonds as well as $415 million for bonds associated with its troubled electric utility -- known as PREPA. It also managed to pay back a short-term bank loan of about $245 million...." see full article

1324 days ago | washingtonpost
Puerto Rico urges US to help save it from default - Washington Post

"...Some market watchers say investors should have recognized that investing in the island, whose per-capita debt load far outstrips that of any state in the union, was a dubious risk. Despite that, the governor's statements that the commonwealth's debts are unpayable,' will likely come as a surprise to many . . . bondholders who have willfully ignored the inevitability of a painful debt restructuring, said a report from Municipal Market Advisers, a firm that tracks the municipal bond market.On Monday, Fitch further downgraded Puerto Rico bonds, and prices for the island's 20-year commonwealth bond fell 11 percent, driving the yield to 12.2 percent. The problems in Puerto Rico raised concern that the island's crisis could harm the larger market for municipal bonds. But some analysts, noting that Puerto Rico's debt problems are far more severe per capita than those of any state, disagreed...." see full article

1325 days ago | forbes
Grexit, a Puerto Rico Default and Cash under the Mattress - Forbes
"...What these twin black swan events illustrate is that the unexpected can and does occur. One need not fall into the trap of black swan theory hindsight and overanalyze this, but rather simply understand that stuff happens, even if it is not expected, even reasonably.That's why we have life vests and fire extinguishers on boats. Just watch the Robert Redford film All is Lost to see how even a prudent and seasoned sailor can be overcome by unexpected events. So how do portfolio managers, large or small, not end up in an all is lost situation following one or more black swan events? The key continues to be the watchword of the prudent investor standard: diversification. And not just diversification, but diversification including a variety of asset classes that are more likely to survive financial black swans. This certainly means investments into real assets...." see full article

1326 days ago | blogs.barrons
Island Of Disenchantment: Why You Should Avoid Puerto Rico Debt - Barron's (blog)
"...Barron's Andrew Bary today argues that Puerto Rico debt is too risky to invest in, while S&Pnotes that its debt has sunk to new depths and Raymond James says Puerto Rico is a smaller Greece.Now two more concerned voices. Moody's Investor Service put out a bulletin reiterating that its current ratings on Puerto Rico's debt range from Caa2 negative down to Ca negative, and thus are consistent with a high probability of default. Those with the lowest of Puerto Rico's ratings, Ca negative, have expected loss rates above 40%, according to Moody's methodology...." see full article

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