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Default for the Long Haul

According to the AAFAF, payments to bondholders are suspended until January 2017

9 de julio de 2016 - 8:47 AM

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This content was published more than 9 years ago.
Now the government's assigned budget contemplates the payment of interests and its disbursement is at the Governor's discretion. (Archivo GFR Media)
Now the government's assigned budget contemplates the payment of interests and its disbursement is at the Governor's discretion. (Archivo GFR Media)

If you are a Puerto Rico bondholder and you sincerely hope to collect what you are owed in the near future, get comfortable because the Fiscal Agency and Financial Advisory Authority (AAFAF, for its Spanish acronym) yesterday disclosed that the government has suspended the payment of any bond issued by 9 agencies, including general obligations (GOs).

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