Welcome, sign in or click here to subscribe.
Login: Password:
     


 

 

  Business

Subscriber content preview

October 5, 2017

Puerto Rico bonds sink, but bailout idea denied

By ALEXANDRA OLSON and KEN THOMAS
Associated Press

WASHINGTON — President Donald Trump helped sink Puerto Ricans bond prices with talk of wiping out the U.S. territory's debt but his budget director dismissed the idea of a bailout Wednesday as the bankrupt island fights to recover from Hurricane Maria.

The federal government lacks the authority to simply do away with Puerto Rico's staggering $74 billion debt, much of which is tied up in a court-supervised restructuring process after the territory sought a form of bankruptcy protection last year.


 
. . .


To read this story in full login or purchase a subscription.



--