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.