Search results
Results from the WOW.Com Content Network
The Puerto Rican government-debt crisis was a financial crisis affecting the government of Puerto Rico. [a] The crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the government was unable to demonstrate that it could pay its debt.
Puerto Rico’s government formally exited bankruptcy Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay ...
Puerto Rico’s nearly five-year bankruptcy battle is ending after a federal judge on Tuesday signed a plan that slashes the U.S. territory’s public debt load as part of a restructuring and ...
Puerto Rico is one step closer to resolving its nearly five-year bankruptcy battle after a federal judge approved a restructuring plan that would reduce the
It is essential for Puerto Rico to reach restructuring deals to avoid a bankruptcy-like process under PROMESA. [12] An internal survey conducted by the Puerto Rican Economists Association revealed that the majority of Puerto Rican economists reject the policy recommendations of the Board and the Rosselló government, with more than 80% of ...
Puerto Rico’s nearly five-year bankruptcy battle is ending after a federal judge on Tuesday signed a plan that slashes the U.S. territory’s public debt load as part of a restructuring and ...
On June 29, 1993, it acquired Caribbean Federal Savings Bank of Puerto Rico, [3] followed by the Fajardo Federal Savings Bank [4] on August 5, 1998, then Continental Capital Corp. [5] on October 7, 1999, and finally Crown Group, Inc. [6] on June 7, 2002.
The so-called plan of adjustment covering $35 billion of bonds and claims and more than $50 billion of pension liabilities would allow Puerto Rico to exit a form of bankruptcy that commenced in ...