Puerto Rico Defaults on $58M Debt Payment

- VOA News,August 4, 2015

The government of Puerto Rico has confirmed that it failed to make a $58 million debt payment that was due Saturday, a move that amounted to a default for the first time in its 117 years as a United States possession.

Puerto Rican officials had warned on Friday that they would not make the payment because the island legislature failed to appropriate the funds, but they argued it should not be considered a default.
 
But Moody's Investor Service said Monday the missed payment was the first in what it believes will be broad defaults on commonwealth debt.  

The territory did make a payment on the interest of about $628,000, saying it lacked the funds to pay the amount in full.

Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt, totaling $72 billion, was unpayable and required restructuring.  This includes debts, owed not just by the central government, but also those of public corporations, like utility companies, and cities.

Puerto Rico is the third largest issuer of state and local debt in the United States, behind only California and New York.

Much of the island's debt is held by individual U.S. investors in hedge funds, mutual funds or other investment accounts raising questions about how the U.S. economy might be affected now that Puerto Rico has fallen behind on its debt payments.

波多黎各拖欠5800万美元债务付款

- 美国之音,2015年8月4日

波多黎各政府证实没有支付于上周六到期的5800万美元债务还款,这是波多黎各归属美国117年历史上首次债务违约。

波多黎各官员上周五警告说,他们无法付款,原因是该岛立法机构没有拨款,他们争辩说这不应算作债务违约。

但是穆迪投资者服务公司星期一说,他们认为波多黎各将会出现大量债务违约,这次只是第一次。

波多黎各支付了大约62.8万美元的利息付款,表示他们没有资金付清全额。

波多黎各总督帕迪利亚今年六月表示无法偿还该地区高达720亿美元的债款,需要债务重组,令投资人震惊。这些债务不仅是中央政府欠下的,还包括公用事业公司等公共机构和城市。

波多黎各是美国第三大州和地方债券的发行者,仅次于加利福尼亚州和纽约州。

波多黎各债券的持有者大部分是在对冲基金、共同基金或者其他投资账户投资的美国个人投资人。现在波多黎各出现债务违约,这使得人们对美国经济可能会受到怎样的影响抱有疑问。