Puerto Rico 'very unlikely' to avoid Jan.1 default

December 22, 2015 9:00 PM

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Dec 22 Puerto Rico's governor Alejandro Garcia Padilla said on Tuesday it is "very, very unlikely" there will be no default on debt due Jan. 1 and that the U.S. territory was evaluating which bonds are to be paid.

"Making a total payment will be (very unlikely)," Garcia Padilla told reporters at an event in San Juan. "If a partial payment is to be done, which bonds should be paid? It is an evaluation that we are doing."

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