Puerto Rico to default on some debts, will pay GO debt

December 30, 2015 7:01 PM

26 0

Puerto Rico to default on some debts, will pay GO debt

SAN JUAN Puerto Rico will skip payments on some of its debt due Jan. 4, the island's second default this year, but will remain current on its most important debt, Governor Alejandro Garcia Padilla said on Wednesday.

The Caribbean island will pay $328.7 million due in general obligation debt, the governor told reporters. Default on GO debt would have been seen as a more serious move because those bonds have the strongest legal protections of any of the island's obligations.

Also read: Vale to refinance US$2bn of debt next year: CFO

Read more

To category page

Loading...