Clinton Calls on GOP To Let Puerto Rico Use Chap. 9 Bankruptcy

Congress needs to give authority to let “severely distressed” public corporations and municipalities restructure their debts, Hillary Clinton says at event in Puerto Rico

  • “"Not a single Republican has stepped up in Washington to support the leaders in Puerto Rico. And they’re not offering any alternatives either. And that is unacceptable”
  • NOTE: Puerto Rico’s Public Finance Corp failed to pay bondholders an additional $4m of interest due Sept. 1, the agency disclosed today
    • Puerto Rico’s Governor Alejandro Garcia Padilla in June said Puerto Rico and its agencies were unable to repay all of its $72b of debt on time and in full and said the commonwealth would seek to delay payments
Related Story: Puerto Rico Agency Fails to Make September Interest Payment