Federal officials are expected to announce incentives to boost Puerto Rico's economy in the next few months, a top legislator from the commonwealth said this week, responding to investor concerns about the island's rising debt costs and bleak growth, Reuters reported yesterday.
Puerto Rico in Distress
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Municipal-bond prices have fallen further than other debt amid rising U.S. interest rates this summer, exacerbating investor jitters spurred by Detroit's record-setting bankruptcy filing, the Wall Street Journal reported today. Bonds from some financially troubled issuers, like Puerto Rico and Chicago, have been particularly hard hit.
A Michigan county’s decision to postpone a $53 million bond sale highlights the difficulty fiscally strapped issuers everywhere may face in the wake of Detroit’s record bankruptcy filing, the Wall Street Journal reported today.
Guy G. Gebhardt has been appointed as Acting U.S. Trustee for Florida, Georgia, Puerto Rico, and the U.S. Virgin Islands (Region 21), and Judy A. Robbins, the U.S. Trustee for the Southern and Western Districts of Texas (Region 7), has been designated to serve as the U.S.