Puerto Rico Proposes 46% Reduction of Debt in Restructuring
Puerto Rico released details of a proposal to restructure the commonwealth’s debt that would reduce the burden by 46 percent under a bond exchange. The commonwealth’s tax-supported debt would be reduced to $26.5 billion from $49.2 billion and annual ...
Puerto Rico seeks bond swap in proposed restructuring deal
SAN JUAN, Puerto Rico (AP) — Puerto Rico's government says it is seeking a bond swap in a proposed restructuring deal with creditors as it struggles to find revenue amid a deepening economic crisis. Officials released details of the deal on Monday ...
UPDATE 1-Puerto Rico proposes up to $23 bln debt cut for creditors
(Adds details from plan, background on Puerto Rico economic crisis) With a 45 percent poverty rate and the steady exodus of its population to the United States, Puerto Rico is trying to crawl out of its economic morass before substantial debt payments come ...
Puerto Rico Non-Profit’s Tax Filings Raise Questions for Governor, Brother
Puerto Rico Governor Alejandro Garcia Padilla urged the public this week to ignore concerns about a corporate-funded charity that lists his brother as the sole employee, even as the media and ethics watchdogs have raised questions about the group’s ...
Puerto Rico proposes 46 percent debt cut in creditor plan - CNBC
CNBC | Puerto Rico proposes 46 percent debt cut in creditor plan CNBC Puerto Rico on Monday announced it had made an exchange offer to financial creditors to reduce a $49.2 billion chunk of its debt by about 46 percent, to $26.5 billion. The plan, the opening salvo in the U.S. Commonwealth's efforts to resolve its $70 ... |
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