(CNBC) Prices for already beleaguered Puerto Rican debt fell to record lows on Tuesday as investors realized that the devastation from Hurricane Maria made it likely they would receive even less principal than previously thought.Puerto Rico’s 8 percent general obligation bond due in 2035, a benchmark for the island’s debt, plunged an additional 1.25 cents, or 2.36 percent, to 51.75 cents on the dollar, and it was unclear if that was the bottom.
Puerto Rico Bonds Plunge Again as Investors Face Lower Recovery Than Expected
This entry was posted in Syndicated. Bookmark the permalink.
