Puerto Rico Halts Deposits for G.O. Bonds as Agency Defaults
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Puerto Rico halted deposits into the fund that pays its general-obligation bonds and one of its agencies defaulted for the first time, marking an escalation in the island’s fiscal crisis.
Puerto Rico disclosed in a filing with the Municipal Securities Rulemaking Board Monday that it’s temporarily suspending monthly payments into a fund that covers its $13 billion of general-obligation debt.