Hurricane Changes The Game For Puerto Rico Bond Investors

(Reuters) The impact of Hurricane Maria on Puerto Rico’s already shattered finances is changing the financial landscape as creditors rethink strategies two months after the storm, with many slashing positions and others settling in for a long wait. Some investors had bet on strong recoveries for the island’s triple tax-exempt bonds after Puerto Rico declared bankruptcy on much of its debt in May. But that has become too long a play for some, with the path to financial solvency decidedly longer since Maria hit on Sept. 20, killing dozens, crippling infrastructure and spurring a population exodus.

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