Puerto Rico

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...

While investors the world over are worrying about the outcomes of the Greece debt crisis, investors back home in the U.S. received another shock when Puerto Rican Governor Alejandro García Padilla announced on Monday that the small territory is facing problems in paying its nearly $72...

Standard & Poor's Ratings Services said Monday that it's a nearly sure bet that Puerto Rico will default within six months. "It appears to be inevitable," S&P said of a default, distressed exchange, or redemption of the debt, which is widely held by U.S. municipal bond...

Puerto Rico's governor says the U.S. territory is looking to renegotiate the terms of its $72 billion public debt it reaches the brink of financial insolvency. Governor Alejandro García Padilla told the New York Times that he "would love to have an easier option. This is not...

According to Puerto Rico Governor Alejandro Garcia Padilla, the country can no longer make payments on its $73 billion in debt, warning the island is perilously close to entering a "death spiral." In an interview published Sunday in the New York Times, Gov. Garcia Padilla stated,...

On Tuesday, Citi Research published a note titled, "A More Positive Reality Than Perceptions Would Imply," updating Puerto Rican leasing and sales activity for shopping centers and malls owned by four U.S. REITs. The Four DDR Corp (NYSE: DDR): $6.5 billion cap, 3.8 percent yield...

The previous governor of Michigan should have placed Detroit in bankruptcy years ago, according to Reuters financial blogger Cate Long. “It was a really bad move to let it fester as long as it did,” she told Benzinga. Long writes about retail fixed income markets, including...

On Friday morning, investors in Puerto Rico woke up to another huge negative surprise when Doral Financial (NYSE: DRL) announced that they would be revising their capital plan. The bank was informed that it may no longer include some or all of the tax receivables from the Government of Puerto...