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Puerto Rico Municipal Bonds

The debt crisis in Puerto Rico has been in a downward spiral for a decade.  The Puerto Rico financial news is worse every day.

There were great hopes for the future with the election of a new governor in November 2016.  But, the debt has not made any significant progress since then.

Puerto Rican bonds outstanding total around $70 billion.  Puerto Rico news reports that many groups of municipal bond holders are fighting to see who ends up getting paid; if anyone does.

A lot of problems around the debt crisis were blamed on UBS Puerto Rico, and the role they played in the whole mess.  They sold a lot of the municipal bonds, and ended up having to pay millions of dollars to bondholders.  This was after they lost a FINRA arbitration claim.

In other Puerto Rico bonds news… some brokers are still offering Puerto Rico municipal bonds.  You can’t consider them a good investment at this point, given the current events in Puerto Rico.