Puerto Rico has for years been dubbed "Greece in the Caribbean" because of high debt levels and a flagging economy.» Read More
CNBC's Michelle Caruso-Cabrera reports the S&P has downgraded Puerto Rico's general obligations bonds to junk status.
CNBC's Michelle Caruso-Cabrera looks at how Puerto Rico, an island with a population of 3.7 million, came to owe more than $70 billion. The government has raised taxes and cut pensions to help make up the shortfall.
CNBC's Michelle Caruso-Cabrera provides insight on Puerto Rico's debt, and what big names in business say about investing there.
CNBC's Michelle Caruso-Cabrera reports there is a special exemption law in U.S. securities law that if you live in a territory like Puerto Rico, you can invest in closed-end funds in which you get tax-free dividends.
Puerto Rico is in a struggle to borrow money—and it has to do it quickly if it wants to keep ratings agencies happy.
Puerto Rico Treasury Secretary Melba Acosta, and PR Government Development Bank Chairman David Chafey, discuss the pressure Puerto Rico is under from ratings agencies to borrow from markets over concerns of short-term liquidity needs. Puerto Rico has $70 billion in debt plus unfunded liabilities of $30 billion.
Puerto Rico is under pressure from ratings agencies to prove they can borrow money or face a downgrade, reports CNBC's Michelle Caruso-Cabrera.
The White House is not considering a financial bailout for Puerto Rico, an Obama administration official says.
Larry McDonald, Newedge USA senior director, and Dan Loughran, Oppenheimer Funds, discuss the threat Puerto Rico poses to the $4 trillion U.S. muni bond market. CNBC's Michelle Caruso-Cabrera provides insight.
Puerto Rico's territory is small, but its municipal bond market impact could be huge as it faces a potential default.
The willingness of Puerto Rico to pay is very strong, says Daniel Loughran, Oppenheimer Funds, explaining why he is still bullish on the country's muni bonds despite its "structural budget deficits."
Puerto Rico, heavily indebted and looking to borrow more money to cover its bills, is taking steps to calm wary investors.
Puerto Rican government representatives held a presentation for investors, as the commonwealth tries to calm them about its debt load.
Puerto Rico has $70 billion in debt. CNBC's Michelle Caruso-Cabrera reports Puerto Rico officials are making a presentation to assuage investor concerns.
If the US defaults on its debt, there's nothing much you can do to hedge against it, says Kyle Bass of Hayman Capital Management.
Kyle Bass of Hayman Capital Management does not believe the country will default but says there's nothing you can do to protect yourself if it does.
Puerto Rico has a lot of debt, considering its size, reports CNBC's Michelle Caruso-Cabrera. The country has over $70 billion in debt.
How can Puerto Rico fix its debt problem? Distressed investors are definitely sniffing around, explains Alexandra Lebenthal of Lebenthal & Co., weighs in.
Puerto Rico has over $70 billion in debt. What is the impact to muni-bonds? Alexandra Lebenthal of Lebenthal & Co., weighs in.
The island country has more than 600 muni bonds outstanding and within the next year $2.8 billion is due, reports CNBC's Michele Caruso-Cabrera.