Puerto Rico seeks huge debt haircut, creditors frustrated
NEW YORK/SAN JUAN | By Megan Davies and Nick Brown With $70 billion in debt, a 45 percent poverty rate and a steady exodus of its population to the mainland, the U.S. territory is trying to crawl out of an economic swamp before substantial debt payments ...
Puerto Rico Faces Hurdles Seeking a 46% Cut in Debt
Puerto Rico’s debt restructuring plan unveiled today is unlikely to get much traction from bondholder groups because it would require them to accept big losses on debt. Puerto Rico proposed to cut its $49.2 billion of tax-supported debt by 46% to $26.5 ...
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