Puerto Rico Files For Bankruptcy Protection In Largest Ever US Municipal Debt Restructuring

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Puerto Rico Files For Bankruptcy Protection In Largest Ever US Municipal Debt Restructuring

The Puerto Rico restructuring would be far larger than Detroit’s record-setting bankruptcy, with little to no details how long a court proceeding would last or what cuts would are imposed on bondholders. The island’s financial recovery plan covers less than a quarter of the debt payments due over the next decade.

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