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The Puerto Rican government-debt crisis was a financial crisis affecting the government of Puerto Rico. [a] The crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the government was unable to demonstrate that it could pay its debt. The downgrades, in turn, prevented the ...
Puerto Rico is one step closer to resolving its nearly five-year bankruptcy battle after a federal judge approved a restructuring plan that would reduce the
History. In May 2007, local economists expressed serious concerns when it was revealed that the Puerto Rico public debt equaled to 76% of its gross national product (GNP), making it one of the most indebted countries by percentage in the world, even more than the United States. [2] During the fiscal years 2016-2017 debt rose from 93% to 95% of ...
The United States District Court for the District of Puerto Rico (in case citations, D.P.R.; Spanish: Tribunal del Distrito de Puerto Rico) is the federal district court whose jurisdiction comprises the Commonwealth of Puerto Rico. The court is based in San Juan. The main building is the Clemente Ruiz Nazario United States Courthouse located in ...
May 3 (Reuters) - Puerto Rico announced a historic restructuring of its public debt on Wednesday, touching off what may be the biggest bankruptcy ever in the $3.8 trillion U.S. municipal bond market.
Puerto Rico’s government formally exited bankruptcy Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay ...
February 3, 2000. The Jose V. Toledo Federal Building and United States Courthouse is a historic post office and courthouse located at Old San Juan, Puerto Rico. It is a courthouse for the United States District Court for the District of Puerto Rico. It is also the site for oral argument before the United States Court of Appeals for the First ...
A federal judge on Tuesday approved a plan to restructure Puerto Rico's bond debt, which had plunged the U.S. territory into the country's largest municipal bankruptcy in history.Judge Laura ...