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Puerto Rico: Shutdown won't prevent July 1 default

Jun. 24, 2016 4:14 AM ETBy: Yoel Minkoff, SA News Editor2 Comments
  • Just a week before about $2B in bond payments come due, Puerto Rico's governor reiterated that the commonwealth will default on its general obligations even if he halted services on the island.
  • Alejandro Garcia Padilla is currently in Washington lobbying for Congressional approval of a bill that would set up a framework for the commonwealth to restructure its $70B in debt.

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