Puerto Rican offering should lead busy weak for municipals

|By:, SA News Editor

Puerto Rico's $3B debt issuance could happen as soon as tomorrow, reports Bloomberg. It would be the U.S. territory's first sale in two years and follows a cut in its credit rating to junk last month (by all three major agencies)

The muni market overall is expected to see $11B in long-term offerings this week, the busiest pace since late last year as 10-year muni bond yields fall to their lowest level since June.

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