Puerto Rico to miss payment, default looms

August 1, 2015 3:06 PM

35 0

Staggered by a $72 billion debt load, Puerto Rico is expected to miss a debt payment due Saturday, setting the stage for what could be one of the largest U.S. municipal debt restructurings.

Puerto Rico's government said Friday it would not make a $58 million bond payment due over the weekend.

Also read: Saudi Arabia offers first global bonds in economic overhaul

Read more

To category page