Puerto Rico to miss payment, default looms

August 1, 2015 3:06 PM

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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: Swiss to issue bonds with face value of just over 4 bln Sfr in 2017

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