Puerto Rico

Puerto Rico’s bankruptcy, with $74 billion in debt at stake, is the largest municipal default in history. Despite the scope of the U.S. territory’s financial troubles, one of the bond business’ most respected analysts said Puerto Rico's debt is unlikely to break the foundation...

Puerto Rico’s restructuring of $73 billion in debt — a bankruptcy four times the size of Detroit’s — has been a long time coming, analyst Cate Long said on Benzinga’s PreMarket Prep morning show Thursday. The territory’s bankruptcy is not a Chapter 9 filing, as...

Congress has until midnight on Friday night to avoid a partial government shutdown by passing a spending bill to fund government operations. While most investors are hoping to avoid the headache of a shutdown, at least one class of investors may be hoping negotiations continue to be hard-fought....

The Puerto Rico Electric Power Authority (PREPA) has agreed to a new debt deal with its creditors, but the U.S. territory is still teetering on the brink of bankruptcy. Earlier this month, PREPA and its creditors agreed to restructure $8.9 billion in debt in a deal that would save $2.2 billion over...

This election season, companies like Microsoft Corporation (NASDAQ: MSFT), General Electric Company (NYSE: GE) and Apple Inc. (NASDAQ: AAPL) have been criticized by both candidates for the massive cash hoards the companies have stashed overseas to avoid U.S. taxes. The companies claim U.S....

Given Popular Inc (NASDAQ: BPOP)'s excess capital and valuation discount to U.S. peers, Barclays’ Matthew J. Keating believes the stock offers an “interesting” intermediate term investment option. Keating initiated coverage of Popular with an Equal-Weight rating and price target...

Puerto Rico's government is facing a lawsuit in New York by a group of hedge funds, which claim the U.S. territory is misusing an emergency fiscal-crisis law to avoid payments on a $3.5 billion in bonds. Puerto Rico approved "The Emergency Moratorium and Financial Rehabilitation Act" in April,...

Things keep going from bad to worse in debt-swamped Puerto Rico. The island nation missed yet another round of debt payments on Monday, and many investors are concerned about the ultimate impact of a financial collapse in Puerto Rico. In a new interview with WNYC, Puerto Rico Clearinghouse’s...

John Paulson's hedge fund, Paulson & Co., entered into a few risky investments that didn't pay off, as noted by ZeroHedge, which resulted in heavy losses and many investors fleeing the fund. Paulson invested millions of dollars into Greece in hopes that the struggling economy would...

Cate Long was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick. Trading municipal bond funds during a massive market-wide sell-off like the one seen on Monday may not be a top priority for most investors. However, Cate Long, a municipal...

Reuters released new comments from Moody's on Puerto Rico's debt crisis on Wednesday afternoon. According to Moody's, "probability of default is approaching 100 [percent]." The bond credit rating agency believes that a failure to pay would trigger significant losses....

Debt-riddled Puerto Rico managed to pay all of the $1.9 billion it owed to creditors on Wednesday. But the U.S. territory is still treading in deep water, and Governor Alejandro Garcia Padilla has openly labeled its $73 billion in debt "not payable." Benzinga caught up with JJ Kinahan...