Puerto Rico


  • How Puerto Rico came to owe $70 billion  Friday, 24 Jan 2014 | 6:00 PM ET

    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.

  • Puerto Rico debt; Buy in now?  Friday, 24 Jan 2014 | 2:12 PM ET

    CNBC's Michelle Caruso-Cabrera provides insight on Puerto Rico's debt, and what big names in business say about investing there.

  • UBS & Puerto Rico's debt  Friday, 24 Jan 2014 | 1:53 PM ET

    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.

  • Why Puerto Rico needs to borrow money—and soon Friday, 24 Jan 2014 | 1:06 PM ET
    A vacant building in the Santurce neighborhood of San Juan, Puerto Rico.

    Puerto Rico is in a struggle to borrow money—and it has to do it quickly if it wants to keep ratings agencies happy.

  • Problems in Puerto Rico: Debt crisis looms  Friday, 24 Jan 2014 | 10:43 AM ET

    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.

  • Should Puerto Rico be allowed to borrow?  Friday, 24 Jan 2014 | 7:44 AM ET

    Puerto Rico is under pressure from ratings agencies to prove they can borrow money or face a downgrade, reports CNBC's Michelle Caruso-Cabrera.

  • White House: No bailout for Puerto Rico Wednesday, 22 Jan 2014 | 5:06 PM ET
    A vacant building in the Santurce neighborhood of San Juan, Puerto Rico.

    The White House is not considering a financial bailout for Puerto Rico, an Obama administration official says.

  • Massive muni market faces PR default  Friday, 17 Jan 2014 | 3:14 PM ET

    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: Sand, rum and some risky bond income Wednesday, 6 Nov 2013 | 8:00 AM ET
    An abandoned building in the Isla Verde area of San Juan, Puerto Rico.

    Puerto Rico's territory is small, but its municipal bond market impact could be huge as it faces a potential default.

  • Puerto Rico's debt crisis hits muni bond funds  Tuesday, 29 Oct 2013 | 10:38 AM ET

    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 to investors: Your money is safe Thursday, 24 Oct 2013 | 12:56 PM ET
    Puerto Rico Gov. Alejandro Garcia Padilla

    Puerto Rico, heavily indebted and looking to borrow more money to cover its bills, is taking steps to calm wary investors.

  • Inside Puerto Rico's looming debt threat Tuesday, 15 Oct 2013 | 4:07 PM ET
    File Photo: Resident Commissioner Pedro Pierluisi (C) of Puerto Rico speaks alongside U.S. Rep. Jose Serrano (R), Democrat of New York, and Puerto Rican activists.

    Puerto Rican government representatives held a presentation for investors, as the commonwealth tries to calm them about its debt load.

  • Puerto Rico government addressing debt concerns  Tuesday, 15 Oct 2013 | 2:16 PM ET

    Puerto Rico has $70 billion in debt. CNBC's Michelle Caruso-Cabrera reports Puerto Rico officials are making a presentation to assuage investor concerns.

  • No way to hedge against these two risks: Kyle Bass Wednesday, 9 Oct 2013 | 10:59 AM ET
    Kyle Bass, founder of Hayman Capital.

    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.

  • Bass: Can't hedge from default  Wednesday, 9 Oct 2013 | 10:40 AM ET

    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 debt hammered  Tuesday, 8 Oct 2013 | 5:40 PM ET

    Puerto Rico has a lot of debt, considering its size, reports CNBC's Michelle Caruso-Cabrera. The country has over $70 billion in debt.

  • Distressed investors sniffing Puerto Rico: Pro  Tuesday, 8 Oct 2013 | 5:40 PM ET

    How can Puerto Rico fix its debt problem? Distressed investors are definitely sniffing around, explains Alexandra Lebenthal of Lebenthal & Co., weighs in.

  • Puerto Rico's debt & impact to munis  Tuesday, 8 Oct 2013 | 5:40 PM ET

    Puerto Rico has over $70 billion in debt. What is the impact to muni-bonds? Alexandra Lebenthal of Lebenthal & Co., weighs in.

  • Puerto Rico saddled with over $70 billion in debt  Tuesday, 8 Oct 2013 | 10:40 AM ET

    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.

  • Are muni bonds a risky bet?  Tuesday, 17 Sep 2013 | 1:35 PM ET

    Puerto Rico's weak economy and heavy debt load have made its bonds a risky bet for most investors. Barron's recent cover story singled out Oppenheimer's aggressive $6.5 billion bet on the country. Troy Willis, OppenheimerFunds, and John Lofreddo, MainStay High Yield Municipal Bond Fund, debate the move.