Puerto Rico's Benchmark Bonds Plunge to Record-Low Price: ChartBy and
Puerto Rico’s benchmark general obligations with an 8 percent coupon and maturing in 2035 dropped in Wednesday trading to 64.5 cents on the dollar, the lowest price since they were issued in March 2014, data compiled by Bloomberg show. The decline comes after island lawmakers approved a bill that would allow the governor to declare a moratorium on a wide range of debt payments, including on the constitutionally guaranteed securities. On Tuesday, when the Puerto Rico Senate passed the measure, trading volume in the benchmark debt reached the highest since Feb. 25.
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