Puerto Rico in Distress
Video Features
ABI Analysis
Allowing Puerto Rico to restructure its public corporation’s debts in bankruptcy would help give the island’s economy some breathing room and politicians some authority to undertake further economic reforms, according to a commentary in the recent edition of The Weekly Standard magazine. The only problem is that as a U.S. territory, Puerto Rico cannot use chapter 9.
Seven years after their ranks were decimated by the housing crisis, bond insurers are back in the spotlight as Puerto Rico struggles to stave off default, the Wall Street Journal reported today. Companies including Assured Guaranty Ltd., MBIA Inc.
Citibank has sold a $146 million loan it had with the Puerto Rico Electric Power Authority (PREPA) to a distressed debt investment firm, two sources said yesterday, in a sign of the growing uncertainty over the utility's finances, Reuters reported yesterday.
Other Resources
This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.